In reality, this offer took not just two weeks of talks to prepare, but nine years - since article 9 of the Paris agreement in 2015 made it clear that the rich industrialised world would be obliged to supply cash to developing countries to help them tackle the climate crisis.
When it finally arrived last Friday, the initial offer of $250bn a year by 2035 was widely derided as too low. Early the following morning, the countries upped the figure to $300bn, which ended up being accepted, albeit amid acrimony and cries of "betrayal".
Even in signing the deal, rich countries prevaricated - the money could come not just in the form of the grants and very low-interest loans that developing countries need, but some could also come from a "wide variety of sources, public and private, bilateral and multilateral and alternative sources". Money will be "mobilised" rather than provided - a nice distinction that allows for the inclusion of private sector coinvesting to be counted alongside public money from government budgets and development banks.
Plus, rich countries will only have to "lead" in supplying this - some of the cash could come from big emerging economies, such as China or South Korea, or even petrostates such as the United Arab Emirates. And the headline figure of $1.3tn a year for developing countries by 2035 relies on the $300bn being supplemented with a much higher amount of private sector investment, and "innovative" forms of finance such as new taxes on fossil fuels and frequent flyers, none of which are close to being in place.
هذه القصة مأخوذة من طبعة November 29, 2024 من The Guardian Weekly.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 29, 2024 من The Guardian Weekly.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
If kids get protected from online harm, how about the rest of us?
The Australian government has proposed a ban on social media for all citizens under 16.
'It's not drought - it's looting'
Spain is increasingly either parched or flooded - and one group is profiting from these extremes: the thirsty multinational companies forcing angry citizens to pay for water in bottles.
Life in the grey Zone
Neonatal care has advanced so far that babies born as early as 21 weeks have survived. But is this type of care always the right thing to do?
Out of tune? Band Aid under fire for Africa tropes as it turns 40
Forty years ago this month, a group of pop stars gathered at a west London studio to record a single that would raise millions, inspire further starry projects, and ultimately change charity fundraising in the UK.
Deaths shine spotlight on risks of drinking on party trail
Vang Vieng is an unlikely party hub. Surrounded by striking limestone mountains and caves in central Laos, it morphed from a small farming town to a hedonistic tourist destination in the early 2000s.
Different strokes My strange and emotional week with an AI pet
Moflin can develop a personality and build a rapport with its owner - and doesn't need food or exercise. But is it comforting or alienating?
Strike zone Waking up to the rising threat of lightning
When the Barbados National Archives, home to one of the world's most significant collections of documents from the transatlantic slave trade, reported in June that it had been struck by lightning, it received sympathy and offers of support locally and internationally.
Cheap pints and sticky carpets: the old-school pub is back
In the Palm Tree pub, east London, barman Alf is taking only cash at the rattling 1960s till.
Brain gain Can a radical tax scheme convince the country's brightest to stay?
In the autumn of 2018, I moved to Lisbon for a month-long course at the Universidade .de Lisboa.
Fear and sympathy in small town divided over asylum camp
A year after anti-immigration riots, a site for asylum seekers faces hostility while some locals try to help new arrivals
