Washington: As the US returning to the Paris Climate Agreement, all developing and poor countries, including India, are expected to receive more financial support to deal with climate hazards. Now America might take a step to provide financial grants for the Global Client Fund. The US has officially joined the Paris Agreement on 19 February. However, its process started a month ago. Climatologists believe that there will be two types of benefits. Firstly, US will contribute a large amount to the Global Climate Fund. Secondly, in the coming days it can declare to be carbon neutral. Actually, Global Fund was created to provide financial assistance to the poor and developing countries. But by 2020, the goal of depositing one hundred billion dollars per year in this fund could not be met. It is believed that the return of the United States may complete it.
According to a recent report by the Organization for Economic Cooperation and Development (OECD), in 2018, around 80 billion funds have been given by developed countries to combat climate hazards. This includes 62.2 crore public sources and 14.6 crore private funds. The organization claims that in 2020 it may have reached a hundred billion dollars. But Oxfam’s report is completely opposite. It says that in 2017-18, only $ 22.5 billion was actually given by developed countries. This year the Conference of Parties is scheduled to meet in Glasgow in November, which is under pressure to set climate targets afresh. But before that the US is holding a global climate conference in April, in which it can announce its new goals. It is possible that by 2050 it can declare its goal of becoming carbon neutral. There are two reasons for this. Many countries including China, European Union, Japan, Southern Africa have made such declarations. Secondly, despite the US ruling out of the Paris Agreement under the Trump regime, the provincial governments there served a target of reducing emissions by 50 per cent by 2030. So, if America sets a goal of being carbon neutral by 2050, then it will not be difficult for it.