Playing his cards close to the vest, India’s prime minister first promised they would soon ratify the Paris accord, then said the climate reparation money must be on the table first. Details are at GWPF:
INDIA LINKS RATIFICATION OF PARIS AGREEMENT TO CLIMATE FINANCE, DENIES IT WILL RATIFY DEAL THIS YEAR
The climate charade reminds me of what Russians said privately during the Soviet era: “We pretend to work, and they pretend to pay.”
No one mentions the size of the bill. Page 31 of India’s INDC submission states
India is going to fund at least part of this. But put this in context. In 2014 GDP was $2.066trn. Assuming 7% compound growth to 2030, $2.5trn is over 4% of GDP. I would guess India are looking towards $100bn a year to keep them compliant.
Errr, 100bn yearly by 2020 is the target for the entire UN adaptation fund. After India, what’s left for the others?