Matthew Dalton of The Wall Street Journal reports that in order to strike a climate deal, poor nations say they need trillions of dollars from rich ones.
- The developing world, where most of the future greenhouse gas emissions will come from, is integral in the fight to combat global climate change.
- Historically, international climate negotiations have stalled because of the divide between rich and poor nations. The upcoming meeting in Glasgow, Scotland is no different.
- While poorer countries are demanding trillions of dollars to reach a climate deal, policies rooted in economic freedom will best help these countries meet their economic and environmental needs.
“Developing nations want a big portion of the money to come as government grants, not loans from private investors that would saddle them with debt. They’re demanding control over how the money is spent, wary of dictates from wealthy governments and financiers in the U.S. and Europe.”
Read the full article here.