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You are absolutely correct, but the developing nations’ response ignores the fact that there is limited money to share around.
The walk-out comes across a bit like they’re not really that bothered about addressing the problems. Otherwise they’d take the £250bn and have at it as best they can. IMO.
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There are multiple arguments going on there. Some is from the poorest nations complaining that China and India are now rich and powerful enough to be contributing more. But if you're from a small nation that is facing disappearing underwater - or having a lethal water shortage - this century and don't think what's on offer is going to make a difference, taking the money and doing the best you can is just about how you choose to die.
Um, some of this is a long running argument from developing nations saying that the state of the environment today was mostly caused by former colonial powers who left them in a state where they're not resourced to tackle the problem alone, especially since many of the solutions either rely on advanced technology or would require them to say under-developed. And they're making a loud noise now because they want to be heard before Trump assumes power and tears it all up. I guess you don't mean it that way, but you're sounding very Daily Express headline writer there.