World leaders at the CoP28 climate summit in Dubai have agreed in principle to a global fund to help struggling countries deal with the effects of climate change. But what does that mean in real terms?
In Start the Revolution Without Me, Bud Yorkin’s 1970 parody of Alexander Dumas’ historical classic The Corsican Brothers, Gene Wilder and Donald Sutherland play identical twins who are accidentally switched at birth on the eve of the French Revolution.
One set of twins is born to a family of peasants, the other to aristocrats.
They grow up in different worlds, one hard-scrabble and beset by poverty, the other a world of sophistication and plenty.
Sutherland grows up to become the haughty, sophisticated Pierre DeSisi and the somewhat more intellectually challenged Charles Coupé; Wilder grows up to become the haughty, aristocratic Phillipe DeSisi and the excitable, rough-around-the-edges Claude Coupé.
When the revolution comes to a head — sorry — both sets of twins find themselves mistaken again, but this time as adults. A running gag involves the dastardly Versailles villain Count du Monet, who Claude calls “Count de Money!” as an exasperated Pierre tries to correct his pronunciation with the more cultured — and accurate — “Du Moan-ay, Du Moan-ay.”
One of the criticisms of the annual United Nations CoP climate talks over the years is that they’ve been full of financial promises from Western nations to the developing countries, that part of the world most affected by climate breakdown caused by carbon emissions from the excessive burning of fossil fuels, without actually producing the money.
That looked to change earlier this week at CoP28 when world leaders at the UN climate summit in Dubai approved a disaster fund to help low-lying tropical island states and coastal regions vulnerable to flooding from rapidly rising sea levels.
Conference president Sultan Ahmed al-Jaber, whose day job is the UAE’s Minister of Industry and Advanced Technology — he heads the UAE’s national oil company and has control of his country’s vast oil reserves — says world leaders need to “proactively engage” fossil fuel companies as a keystone part of any solution to climate challenges.
This matters because, like it or not, oil companies are where the money is. Al-Jaber described the agreement as a “positive signal of momentum” in his address at Thursday’s opening ceremony, but not everyone is convinced.
The UN climate chief, Simon Stiell, took a more cautious position, noting that there must be a terminal decline to the fossil fuel era if the world is to stop “our own terminal decline.”
In a speech earlier this year at the United Nations Security Council’s first-ever meeting on the threat to international peace and security from rising sea levels, UN Secretary-General António Guterres declared that sea levels will rise significantly even if global warming is “miraculously” limited to 1.5 degrees Celsius (2.7 degrees Fahrenheit), the elusive international goal. Guterres warned the Earth is more likely on a path to warming that amounts to “a death sentence” for countries vulnerable to that rise, including many small island nations.
Guterres added that the threat is not just limited to low-lying island states in the tropics: some of the world’s largest cities are also likely to be affected. “mega-cities on every continent … including Cairo, Lagos, Maputo, Bangkok, Dhaka, Jakarta, Mumbai, Shanghai, Copenhagen, London, Los Angeles, New York, Buenos Aires and Santiago.”
More than 70,000 delegates are attending the CoP28 climate talks, among them world leaders of France, Japan, the UK and Brazil, as well as activists, lobbyists and prominent public figures such as Bill Gates and King Charles III.
The leaders of the world’s largest emitters of carbon emissions, the US and China, have elected not to attend, however.
So far, nations at CoP28 have formally approved the implementation of a “loss and damage” fund to compensate “climate-vulnerable” countries — this, after months of hard-fought negotiations over how the fund will work. The UAE sees itself as a bridge between the rich developed nations most responsible for historic emissions and the rest of the world, which has contributed less to global warming but suffers its worst consequences.
While talk of a climate fund is encouraging, island states most likely to be affected in the short term — Tuvalu and Vanuatu, to name just two — risk being completely submerged by rising sea levels water by the end of the century. Tuvalu and Vanuatu, together with the Maldives, Kiribati, the Bahamas, Antigua, Palau, Barbuda and St. Lucia, tona me just a few, can be forgiven for asking, Where de money?
