China and India to receive £1.5bn climate aid despite scrapping COP26 coal promises

China And India is expected to receive 1.5 billion pounds of climate aid despite the ruin COP26 Agreement on reducing dependence on coal power.

Rich countries agreed to double funding to prepare for developing countries Global warming Feather Glasgow conference earlier this month.

Despite being two of the fastest growing economies in the world, the United Nations designates China and India as ‘developing states’.

The analysis shows that both countries received a total of £700 million from developed countries in 2019, the latest figures available, as well as millions more from investment foundations and private donors.

But a pledge made in Glasgow could see their ‘optimization’ funding allowance rocket to £1.5bn – the equivalent of £38million to the British taxpayer bill.

China and India will enjoy a bonanza despite helping fulfill a key COP26 pledge. Instead of promising to ‘phasing out’ the use of coal, the convention only agreed to ‘phasing out’ its use.

The weakening of the pledge left COP26 president Alok Sharma disappointed and close to tears.

Critics said the system needed reform. John O’Connell, chief executive of the Taxpayers Alliance, said: ‘Taxpayers working the net zero target should not see that with the bill. With the highest tax levels in 70 years, family finances are already strained and wealthy countries cannot be expected to pay these green grants.

‘Ministers should thus address the effectiveness of eco-aid and avoid paying Britons to spend more.’

China emits more greenhouse gases than the overall developed world. According to the Air Quality Index, India is the most polluted country in the world.

Yet an analysis of the latest Adaptation climate funding contributions shows they accepted a total of £2.3bn from climate funding in 2019.

Of that, China raised £749 million, including grants and loans from nation states and private donors, including the Bill & Melinda Gates Foundation and the Children’s Investment Fund Foundation.

China’s Xi Jinping (left) refused to join Cop 26, while India’s Narendra Modi gave a speech a few days before his representatives helped to downplay steps to curb coal use.

Developed countries contributed £278 million, of which about £8 million was from Britain, and used it to develop a new power sector for Fujian, the southeast province of China, and improve crop production. had gone. India was contributed £1.6 billion in funding in 2019 from around the world, including foundations, private donors, states and investment groups, according to data published by the Organization for Economic Co-operation and Development.

Of this, approximately £409 million came from member states, including £12.6 million from the UK. It was spent on ‘promoting women in energy’ in India, the state’s solar power network and early warning weather systems.

Under the new funding arrangement, China could receive £24 million from the UK and up to £2.4 million from India next year.

Critics are also concerned about corruption. A recent report by Chr. The Michelson Institute in Norway found that the ten countries receiving the most climate finance, including China and India, were at ‘high risk for corrupt practices’.