The Fairness of Climate Funding: Just Another 60 Million Euros?

According to Finland's public broadcaster Yle, the financing of climate action is increasingly shifting onto the shoulders of EU countries. This is because the Trump administration is unlikely to be enthusiastic about participating in the whole effort, while China and former developing countries enriched by oil want to continue as recipients of funds rather than contributors.

China and the G77 group of developing countries have also proposed a new target for climate financing. According to their proposal made in Baku, Azerbaijan, a staggering $1.3 billion should be allocated.

It remains to be seen how the EU will respond to this emerging situation. Will it continue humbly to keep its purse open, or will it declare the situation unfair and therefore unfeasible?

In any case, Finland’s government has already decided to reduce its contribution to the green climate fund from 100 million euros to 60 million euros. As a Finnish taxpayer, I believe that if China and the G77 continue along the line they've currently set, that amount should be further reduced by another 60 million euros and the saved funds used to curb the national debt, even though that, too, may be but a drop in the ocean.

Previous thoughts on the same topic:
Russia Pays the Price for Its Foolishness
Correct minister, ridiculous facts
Advice to participants of the COP27 climate implementation summit