Developing countries publish five-point plan requiring climate finance before COP26- Technology News, Firstpost


Nations that are more vulnerable to the effects of global warming are urging rich countries on Thursday to fulfill their promise to fund the fight against climate change ahead of the groundbreaking UN summit.

Underlining the “worrying lack of urgency” at the recent G7 and G20 summits, dozens of countries said the COP26 talks in Glasgow later this year need help from communities already affected by extreme weather conditions.

The Paris Agreement aims for a more ambitious temperature cap of 1.5 ° C.  But six years after the agreement was signed, a number of issues remain unresolved.

The Paris Agreement aims for a more ambitious temperature cap of 1.5 ° C. But six years after the agreement was signed, a number of issues remain unresolved.

Thanks to the growing warnings of scientists and the international attention received by climate change, the pressure on agents to achieve meaningful results is enormous.

Glasgow’s to-do list is equally frightening.

In addition to finalizing the 2015 Paris Implementing Code, nations are also expected to deliver on their 2009 pledge to provide $ 100 billion a year to climate-vulnerable countries to reduce emissions and adapt to climate change.

“By 2020, at least $ 100 billion a year was promised, and the annual amounts would increase from 2025,” the countries wrote at COP26 in their five-point plan.

These include Kenya, Ethiopia, Gabon, Somalia, the Philippines, Bhutan, Tanzania and Bolivia.

“However, this goal has been missed and needs to be rectified urgently if developing countries can rely on richer countries at COP26 to hold on to their negotiations.”

They also called for at least 50% of funding to go to future climate change, as well as separate funding for the “loss and damage” already caused to poorer countries by the historical emissions of rich economies.

Under the Paris Agreement, nations committed to limiting global temperature rise to “well below” two degrees Celsius (3.6 Fahrenheit) to pre-industrial levels through large emission reductions.

The agreement also aims for a more ambitious temperature cap of 1.5 ° C.

But six years after the agreement was signed, a number of issues remain unresolved.

These include how the carbon market is managed and how climate finance is calculated and reported.

The plan, formulated with ministers, negotiators and climate campaigners from African and Southeast Asian countries, called on richer countries to make a “fair share” of emissions reductions.

This would include historical polluters, which are rapidly liberalizing their economies and paying the poorer countries, which are least responsible for the climate crisis, to do the same.

Lack of keeping promises

According to developing countries, rich emitters must also give priority to agreeing on the final details of the Paris Code.

“The lack of promises in these key areas of finance, adaptation and loss and damage is unacceptable,” said Fekadu Beyene of the Ethiopian Commission on Environment, Forestry and Climate Change.

“What’s the point of agreeing on new promises if we don’t keep them?”

Mohamed Adow, director of the Nairobi-based energy and climate economy brainstorming session, Power Shift Africa, said the countries ’five-point plan had“ fired the starting point ”for COP26 negotiations.

“These elements are required if we are to meet the challenges of the heating planet and its devastating climate impact,” he said.

According to the UN, emissions must fall by more than 7% a year by 2030 to keep the Paris temperature target of 1.5 ° C at bay.

Although emissions fell in 2020 due to Covid-19 lockouts and travel restrictions, global warming concentrations of carbon dioxide continue to rise.

According to Tasneem Essop, CEO of Climate Action Network, COP26 was an unprecedented test of the will of world leaders to survive the crisis.

“COP26 is both a moral and a practical test that defines the legacy of political leaders: it deserves an honor for them to steer the world during this critical time, or the shame of being involved in death.”

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