With this call from the UN’s top official on climate change, the round of UN climate talks has begun in Baku, which will continue until November 22.
During the COP29 conference, the 29th conference of the United Nations Framework Convention on Climate Change (UNFCCC), member countries are trying to set a new funding target in the fight against climate change.
He said the idea that climate finance is a philanthropic act must be abandoned. Rapid climate change is affecting every person in the world in one way or another.
That would be on top of a $100 billion pledge set in 2009, which expires later this year and is believed to be short of funding needed for climate action.
Simon Steele said the UNFCCC process is the only chance to tackle the climate crisis and motivate each other to take action. “And we know this process is working, because without it, humanity would be headed for 5 degrees of global warming.”
‘No country is immune’
He gave several examples of why the new agreement on climate finance is important. According to him, if at least two-thirds of the world’s countries cannot reduce their emissions, every country will pay a terrible price.
Additionally, price increases due to climate disruptions could impact supply chains, which could disrupt the global economy. For example, declining water levels in the Panama Canal had a profound effect on shipping.
UN climate chief Simon Steele is from Grenada. His home island of Carriacou was heavily damaged by Cyclone Beryl in July this year.
He told delegates he was inspired by his neighbors, like 85-year-old Florence, and by the millions of others around the world who are facing the shocks of climate change and recovering.
Financing required
According to the UNFCCC chief, we cannot continue to disrupt lives and livelihoods in every country.
He asked, do people want to see the price of their food and daily necessities increase, their countries fall behind economically and instability deepen in the world?
According to Simon Steele, if the answer to all these questions is no, then shaping the climate finance agreement is even more important.
In this sequence, he emphasized the need for reforms in the global financial system, which would be necessary to overcome climate impacts.
The annual United Nations climate conference is being held in Azerbaijan’s capital, Baku, from November 11-22.
warmest decade
On the first day of the COP29 conference, the United Nations Meteorological Agency issued its latest update on the climate situation and a red alert. The United Nations agency has expressed concern that within a generation, the climate is changing rapidly, largely due to the increasing amount of greenhouse gases in the atmosphere.
The hottest temperatures on record were from 2015 to 2024. At the same time, frozen ice is melting, sea levels are rising, and ocean temperatures are rising.
The WMO reported that from January to September 2024, the global average temperature was projected to be 1.54 degrees Celsius higher than the pre-industrial period.
Extreme weather events such as floods, storms and droughts are affecting communities and economies around the world.