WSJ: Billions in U.S. Funding Hasn’t Convinced Developing World to Ditch Coal
“South Africa and Indonesia are backtracking on commitments to burn less of the dirtiest fossil fuel
JOHANNESBURG—Wealthy nations are sending tens of billions of dollars to poorer ones for clean energy, the linchpin of a global strategy to cut greenhouse-gas emissions in the developing world.
But two of the most ambitious efforts yet—in South Africa and Indonesia—are now at risk of unraveling, sowing doubts about the rich world’s ability to push developing countries away from coal and other fossil fuels.
South Africa and Indonesia, among the world’s most coal-hungry economies, are backtracking on commitments they made to burn less of the fuel under agreements known as Just Energy Transition Partnerships, or JETPs, which offered them $28.5 billion from the U.S. and other wealthy nations. Officials are working to prevent the agreements from falling apart as governments convene in Dubai for COP28, the annual United Nations climate summit.
Resistance from pro-coal politicians in both countries and fears about the economic and technical viability of replacing the fuel quickly are jeopardizing the agreements. South African and Indonesian officials say the money from wealthy countries isn’t what they hoped: Most of it will come in loans, not grants, saddling the countries with more debt.
Climate funding “should be more constructive, not in the form of debts that will only increase the burden on undeveloped or developing countries,” Indonesia’s President Joko Widodo said last month.”
Europe In Deep Freeze As Kerry Warns Of Rampant Global Warming https://t.co/FrrDUbirVS
— zerohedge (@zerohedge) December 4, 2023
$3 Billion means nothing to Kamala.
"Continued progress will not be possible without a fight"
Vice President Kamala Harris urges world leaders to "do more" after the US announced a $3 billion pledge for climate aid to poor countries https://t.co/5hfD0CuX6j pic.twitter.com/x2EZ09JDbs
— Bloomberg (@business) December 2, 2023
NOW – Hillary Clinton: "We're seeing and beginning to pay attention and to count and record the deaths that are related to climate." pic.twitter.com/6hVv4qFB1T
— Disclose.tv (@disclosetv) December 4, 2023