Rich countries like Australia shouldn't balk at climate spending - it will soon pay for itself | Frank Jotzo

'Loss and damage' finance for developing nations and domestic support for clean energy industries may be politically difficult - but they are necessary investmentsFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe money conversation is always fraught at the Cop climate negotiations, and this year it is particularly difficult given economic trouble in rich countries. But the global energy crisis works in favour of clean energy transition and achieving more meaningful emissions cuts down the track.The world is still short of the Paris goal to provide $100bn in climate finance to developing countries. And only a fraction of the money provided is for dealing with climate change impacts, which is what developing countries need most. Financial needs for climate change adaptation in developing countries are estimated in the hundreds of billions of dollars per year. Continue reading...