by Shaun Tandon
“WASHINGTON — The US administration said that assistance to poor countries worst hit by climate change was crucial to US credibility as it struggled to convince a skeptical Congress.
Wealthy economies — namely the United States, Japan and European Union — have promised billions of dollars to poor countries in what has become a key component of a future global treaty on climate change.
Chief US climate negotiator Todd Stern on Wednesday told Congress that such investment was “in our national interest” and quoted a World Bank study saying that every dollar spent on disaster preparedness saved $7 in disaster response. (more…)