American officials had indicated before the Copenhagen summit that Barack Obama was not in a position to make a forward-looking commitment on finance for fear of triggering a backlash from Congress.
Late last year, the world's leading development banks made a joint commitment on financing the sustainable development goals.
Whoever finds themselves in government after 7 May must lead the way in tackling climate change at home and abroad: in the former, by committing to phase out coal emissions from the British economy by the early 2020s; in the latter, by standing strong on the need for new concrete commitments on climate finance at the UN conference on climate in Paris this December.
Accusing international donors, in particular Britain and the United States, of reneging on commitments to finance land reform, Mr. Mugabe has encouraged poor blacks to simply seize white-owned land for themselves.
More disturbing is the fact that some rich countries, notably the United States, have not yet made good on their commitments to finance debt relief.
Bain and THL argued that the six banks — Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, Royal Bank of Scotland and Wachovia — were refusing to honor their commitments to finance the deal on original terms.
Credit Suisse and Deutsche Bank, who signed on to the $6.5 billion leveraged takeover by private equity-backed Hexion Specialty Chemicals, never planned to honor their commitments to finance the deal, Huntsman alleged.
