Summary:
Katowice (Poland): Climate finance is emanating to be the bone of contention in the developed versus developing scrimmage at the 24th session of the Conference of the Parties (COP24) being held here. “Instead of agreeing to submit information on how much money will provide, the developed world is demanding developing countries to put money on the table. Adds Singh, “Helping the victims of climate change is the need of the hour but once again, the issue continues to be pushed back.” This information is crucial for them to design their nationally determined contributions.”Taking the old stance of the United Nations, the developed nations are denying to acknowledge ‘loss and damage’ as a stand-alone pillar of climate action. In the case of loans, the recipients want to know the exact information on what part of the loan is grant equivalent..