To prevent the overheating of the earth, Countries around the world must reduce exceptions to their climate agreements and invest more money – trillions of dollars a year – in helping poor countries, the United Nations’ climate chief said last week. 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 calculated by the High Level Advisory Group on Climate Finance which developing countries should invest —excluding China—on renewable energy instead of fossil fuels, as well as measures to adapt to, and recover from, damage caused by floods, hurricanes, droughts, heat waves and other climate change events climate.
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 environment officials stress that the next two years are crucialstop 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, according to which fossil fuels cause warming and the world must abandon their use in many cases, Stiell formulated a rebuke as unusual as it is subtle.
“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.