Civil society condemn offsets and World Bank role in Climate Finance
JSAPMDD member Ahmed Swapan joined the panel of speakers in a press conference on April 5 hosted by Friends of the Earth International tackling the issue of climate finance.
Swapan said JSAPMDD denounces the appointment of the World Bank as trustee for the Green Climate Fund. "The World Bank does not have any credibility to be involved in climate financing given its long track record in promoting and funding fossil fuel projects that exacerbate climate change. In addition, it is involved in promoting false solutions to the climate problem," he said.
The press conference, which also launched a letter signed by over 100 national and global networks rejecting any role for the World Bank in climate finance, provided further analysis on the state of UN climate negotiations over provision of funding under any international agreement.
Michelle Maynard of the Pan African Climate Justice Alliance (PACJA) said that providing climate finance is a legal and moral obligation for rich countries.
"It is a legal obligation included in the UN Convention that every country, including the United States agreed to. It's a moral obligation arising from rich countries' climate debts – debts they owe from overusing their fair share of the atmosphere and from causing climate change and climate change harms," Maynard said.
Matthew Stillwell of the Institute for Governance and Sustainable Development pointed to the worrying trend where developed countries' proposed cuts are not consistent with the 2 degree target they agreed in Cancun and that they plan to achieve more than one-third of these inadequate efforts offshore in developing countries through "offsets."
"Offsets is a code word for cheating. Offsets cheat on environmental integrity, they cheat on developing countries' pledges to reduce emissions and they cheat on rich countries' obligations to provide adequate climate finance," Asad Rehman of Friends of the Earth EWNI concluded.