I posted information about the Jubilee Debt Campaign to stop the coalition government from pushing unfair climate loans, and make sure that future climate finance is given as grants via the UN.
Then I discovered that it’s an old campaign from 2010. Sorry.
An update on the campaign is available on the World Development Movement website.
Two years of the Jubilee Debt Campaign has seen some success. The UK government has announced that it will:
- put £10 million towards the UN climate change adaptation fund
- give £70 million in grants to the World Bank’s climate change adaptation fund, and £15 million in loans.
The World Development Movement Climate Debt Blog reports that:
Although it’s disappointing that the money is going to the World Bank, the good news is that this time the UK has given the majority of its money, £70 million, as grants, not loans. This is a significant change from its previous policy.
However, the World Development Movement reports that the World Bank climate change adaptation fund is fundamentally flawed and appears to serve only the interests of rich countries. It judges that “the struggle for climate justice has a long way to go as long as the World Bank is involved.”