Climate Finance Negotiation
The DRC use its natural resources, such as oil reserves and rainforests, to gain leverage in international climate negotiations. It assumed trade of its oil and gas resereves for exploration. However, the famous energy companies didn’t bid. The intention was not on leasing out the reserves but to increase climate investment globally.
Donor countries have secured 500million for rainforest protection in the DRC and The REDD+ mechanism has been enshrined in the COP27 implementation plan
The developed world is guilty for climate change yet the impacts are felt or experienced to a greater extend by the least developed countries. There is need to strike a balance for sustainability or ensuring there is climate justice. The developed countries must without hesitation finance mitigation and adaptation projects in the global south. This will alleviate the impacts of climate change