Climate adaptation finance is ineffective and must be more transparent
Published Date: 5/14/2021
Source: phys.org
In 2019, an international climate fund approved a ten year US$9.3 million project to support communities in the drylands of Mozambique that are affected by frequent droughts. This money seems a lot, but it really is not much for a country also affected by other climate-related events such as cyclones. Indeed, the World Bank estimates Mozambique needs at least US$400 million a year to protect itself from climate change. The difference between the amount of money that developing countries, such as Mozambique, need and what they get from developed countries begins to highlight some of the problems related to financing responses to climate change.