Climate aid cash stumbles into tax haven debate

The effects of climate change on developing countries have created a huge financial burden. Policymakers aim to limit global warming to a rise of 2°C in the 21st century. In this scenario, the cost of adapting to and mitigating the impact of climate change would be in the range of $110-275bn (€79-198bn) per year for developing countries. Given their historical responsibility, accumulated climate
debt3 and the principle of common but differentiated responsibility, developed countries will have to shoulder most of the cost.

• Primary Source

European Network on Debt and Development (Eurodad): Cashing in on climate change? Assessing whether private funds can be leveraged to help the poorest countries respond to climate challenges, 2012 http://eurodad.org/wp-content/uploads/2012/04/CF-report_final_web.pdf

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