Wealthy nations' investment in global decarbonization imperative to economy, experts argue

In their own interest, "coalitions of the willing" of industrialized countries should now step up climate finance for developing countries. The aim: to make their climate commitments, which must be updated in 2025 according to the Paris Agreement, as ambitious as possible. Proven CO2 reductions in the Global South should be rewarded with massive public grants—which would be highly profitable for donor countries due to avoided climate damage. This is the message of an article published today in the journal Nature, co-authored by Ottmar Edenhofer and Johan Rockström, scientific directors of the Potsdam Institute for Climate Impact Research (PIK).