The top UN official reiterated his message during the recent G20 summit in Rio de Janeiro, Brazil: An ambitious financing target is not only necessary, it should be done immediately.
He issued a warning that “failure is not an option.” Sitting idle can have disastrous consequences.
With just 24 hours left for the official COP29 conference in the capital of Azerbaijan, the final round of talks is trying to consolidate financial resources amid differences.
An ambitious new climate finance plan aims to help developing countries most affected by climate change deal with floods, forest fires, droughts and other extreme weather events.
On Thursday morning, the first draft of the agreement was released, drawing mixed reactions from government representatives and civil society groups.
The draft mainly has two parts, showing proposals from developing and developed countries, and some other issues, including funding, are still being wrangled.
Time is running out
Calling for an understanding of the urgency of the occasion, the UN Secretary-General has warned that time is fast running out for an agreement at the COP29 conference.
He said there had been some progress in the talks and a picture of convergence on common ground was emerging, but major differences remained.
The consequences of the absence of any decisive action will be felt beyond the summit, as it will affect climate action in the coming days and complicate the preparation of an ambitious climate action plan for COP30 in Brazil.
towards the clear path
The UN Secretary-General stressed that resource mobilization and a comprehensive financial package are critical for developing countries to take action to limit global temperature rise to 1.5 degrees Celsius.
“This COP is an opportunity to ensure justice in the face of climate catastrophe.”
According to him, financial resource incentives will help countries move towards clean, affordable energy and reduce greenhouse gas emissions.
The Secretary-General emphasized strengthening resilience to disasters, which would require the provision of support funds for vulnerable populations.
In this sequence, it is necessary to restore trust between countries and demonstrate solidarity with international cooperation within the framework of the Paris Agreement.
Invest, not dole
The head of the United Nations said that climate finance is not a dole, but an important investment in the future of the world. “This is an installment toward a safer, more prosperous future for every nation on earth.”
He noted that multilateral development banks have pledged to increase their financing to $120 billion annually by 2030, and an additional $65 billion will be provided by the private sector.
This year, in September of this year, the General Assembly of 193 member states adopted the ‘Consensus for the Future’ at the UN headquarters in New York, in which it pledged to increase access to financial resources and the lending capacity of multilateral development banks. went
A call for unity
The Secretary-General warned that geopolitical rifts could affect progress, and so we need to soften our stance, move beyond differences and think in a broader perspective.
“There is an urgent need for this. It has immense benefits. “And time is short… failure is not an option here.”
In this continuation, he called on all parties to remain united, saying that the lives of future generations on earth are at stake and this should never be forgotten.