In a series of side events on the first day of the Paris climate conference, U.N. Secretary-General Ban Ki-moon launched the
Initiative on Resilience, a program designed to help the world’s poorest countries, which are especially vulnerable to the ravages of global warming. Finance to help developing nations adapt to climate change is potentially the dealbreaker in Paris. Developing nations expect a Green Climate Fund, which would cover adaptation and the cost of moderating their greenhouse gas emissions, to contain $100 billion a year by 2020. If the money is not on the table, they may ditch their promises on emissions — and scupper the deal. Germany, France, and other developed nations promised help in Paris. But the president of Angola, chairing a group of 48 African nations vulnerable to climate change, said $5 billion of such projects were already on hold for want of cash.Read more.