By Maria DemertzisThe global fight against climate change suffers from a problem that holds back international action in many areas: countries make promises and set goals, but then fail to stump up sufficient financing to make them happen.That is why a new initiative, known as the Bridgetown Initiative BI , put forward by the government of Barbados, and best explained here, should not be ignored. It is an attempt to differentiate between different climate objectives and to then suggest how the work towards these different objectives can be financed. The motivation behind this initiative is that climate finance is both scarce and expensive, particularly for very poor countries.The BIs first suggestion, which was indeed adopted by the 2022 United Nations climate summit, was for a loss-and-damage fund to help the most climate-vulnerable countries and to deal with climate justice. The initiative encourages the inclusion of a natural disaster clause which would stipulate <a href=https://www.stanleycups.com.mx>stanley mexico</a> a temporary suspension of interest rate payments on debt owned by the country hit by climate disaster. This would provide liquidity to the na <a href=https://www.stanleycup.com.se>stanley sverige</a> tion hit by the disast <a href=https://www.stanley-cups.fr>stanley cup</a> er.Additionally, the money that a nation would need for rebuilding should not be given in the form of loans but rather in the form of grants. The BI argues that when faced with such natural disasters, debt finance is inappropriate as it would add to the piles of debt in what are typically already very highly indebted countries.The BI even suggests addin Voef TV, radio sports schedule for Jan. 6
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