Friday, March 1, 2024

Fighting climate change needs fewer exemptions and more money

To prevent global warming, the world’s countries must reduce the exceptions to their climate agreements and invest more money – trillions of dollars a year – in aid of poor countries, said of the United Nations climate chief on Friday.

In an unusually frank conference at a university in Baku, Azerbaijan, the site of climate negotiations in the coming months, the executive secretary of the United Nations Framework Convention on Climate Change (UNFCCC), Simon Stiell, said that progress in the past was far from sufficient. Without the necessary money, improvements can “quickly dissolve into more empty promises,” he said.

Much of it depends on money: $2.4 trillion a year, Stiell said. This is the amount estimated by the High-Level Advisory Group on Climate Finance that developing countries – with the exception of China – should invest in renewable energy instead of fossil fuels, as well as measures to adapt, and recover from, damages caused. floods, hurricanes, droughts, heat waves and other climate change events.

The richest countries have pledged less than 5% of that amount in financial aid to the poorest, and in many cases have given less than that.

“It is now very clear that financing will be the determining factor in the success or failure of the global climate fight,” said Stiell. “We need streams – not trickles – of climate funds.”

UN environmental officials have stressed that the next two years are crucial to curbing climate change. The 2024 negotiations in Baku will be followed by an important meeting in Brazil in 2025, where countries will have to make new, stronger commitments to cut greenhouse gas emissions. To do this, officials say, money is the main driver of action.

“It’s past time for business as usual in all aspects of the global climate fight,” Stiell said.

After briefly praising last year’s climate agreement, saying that fossil fuels are causing global warming and the world should abandon their use in many cases, Stiell gave an unusual but subtle reprimand.

“Hiding behind exceptions in the text or avoiding efforts through selective translations would be completely counter-productive for any government because the effects of the climate hit the economy and population of every country,” said Stiell. His office refused to clarify what those exemptions are.

World Nation News Desk
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