Report: Global South Needs $2T Annually to Fight Climate Crisis

    Photo: Reuters [via Al Jazeera]

    The Facts

    • According to a UN-backed report presented at the COP27 summit on Tuesday, developing and emerging countries, excluding China, need investments well beyond $2T annually by 2030 to cut their greenhouse gas emissions and deal with climate change.

    • In addition to helping poorer countries cope with the impact of extreme weather, the 100-page report, Finance for Climate Action, maps out an investment strategy to help reach the Paris climate treaty goals of limiting the rise in global temperatures to below 2°C.

    The Spin

    Narrative A

    We are in the middle of an interlinked climate, energy, nature, and food crisis. Despite small glimmers of progress, the world is still nowhere near the scale and pace of climate action needed to secure a net zero and resilient world by 2050. Governments must radically and rapidly strengthen their climate actions, as detailed in this new report, which shows how "behind the eight ball" we really are.

    Narrative B

    While climate change is an urgent issue, journalists and activists have an obligation to separate the facts from fiction and present them without inducing panic. The catastrophic framing of climate change does far more harm than good, not only by impacting the mental health of our youth but by alienating and polarizing large portions of the population and distracting from other important issues. Climate alarmism must be taken with a grain of salt.

    Nerd narrative

    There's an 85% chance there will be at least 2˚C degrees of global warming by 2100, according to the Metaculus prediction community.

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