On Sunday, Dec. 3, developed nations agreed to raise $300 billion per year by 2035 for developing countries impacted by climate change. While this is a significant increase, it is still far too low and too slow. Economists from various sectors have stated that developing nations need climate finance of at least $1.3 trillion per year through 2035. The gap between the agreement and what is actually needed puts millions of lives at risk. Countries that have suffered from the impact of climate change, such as the Philippines, with six back-to-back devastating typhoons, need robust and immediate support from wealthier, developed nations.
Climate change is enhancing conditions conducive to more intense weather, which many poor countries are not prepared to handle because they lack the resources. Climate finance will help these countries adapt to and prepare for flooding, typhoons, and droughts, while transitioning to clean energy. Pope Francis emphasized at the start of COP29 that this meeting was a chance for the international community to prioritize the good of humanity and our common home, which God has entrusted to our care and responsibility. While this new agreement does more than double the previous commitment of $100 billion per year, it does not fully live up to the Holy Father’s call to action.
If you are interested in supporting CRS’s advocacy and humanitarian efforts, contact Linda Gall to learn more about the work of our State College CRS Chapter.