António Guterres-UN chief clearly said: “humanity is in the hot seat, the consequences are clear, and they are tragic. Children swept away by monsoon rains, families running from the flames, workers collapsing in the scorching heat. Therefore, he calls the leaders must lead now with dramatic, immediate climate action to limit global temperature rise to 1.5 degrees Celsius. The time is now; the leaders must lead; no more hesitancy, no more excuses, no more waiting for others to move first.
He then explained that it is still possible to limit global temperature rise to 1.5 degrees Celsius and to avoid the very worst of climate change; but only with dramatic, immediate climate action. He reiterated that accelerating temperatures demand accelerated action. He then added several critical opportunities ahead namely: the Africa Climate Summit, the G20 Summit, and the UN Climate Ambition Summit. He emphasized the leaders, particularly G20 countries that are responsible for 80 percent of global emissions must step up for climate action and justice. He then explained the urgency of why we need ambitious new national emissions reduction targets from G20 members, and on why we need all countries to act in line with his Climate Solidarity Pact and Acceleration Agenda. This is to hit the fast forward so that developed countries commit to reach net zero emissions as close as possible to 2040 and emerging economies as close as possible to 2050, with support from developed countries to do so.
The UN chief emphasized that all actors must come together to accelerate a just and equitable transition from fossil fuels to renewables as we stop oil and gas expansion and funding and licensing for new coal, oil, and gas. The financial institutions must end their fossil fuel lending, underwriting, and investments and shift to renewables instead. The same goes for fossil fuel companies must chart their move towards clean energy, with detailed transition plans across the entire value chain. There is no more greenwashing, no more deception, and no more abusive distortion of anti-trust laws to sabotage net zero alliances.
On the adaptation; as the extreme weather becomes the new normal, all countries must respond and protect their people from the searing heat, fatal floods, storms, droughts, and raging fires that result. The UN chief emphasized that it is time for a global surge in adaptation investment to save millions of lives from climate carnage. It requires unprecedented coordination around the priorities and plans of vulnerable developing countries. Developed countries must present a clear and credible roadmap to double adaptation finance by 2025 as a first step towards devoting at least half of all climate finance to adaptation. He added that every person on earth must be covered by an early warning system by 2027- by implementing the Action Plan launched last year (2022). All countries should consider a set of global goals to mobilize international action and support adaptation.
“On climate finance, all promises made on international climate finance must be ‘the promises kept’. Developed countries must honor their commitments to provide $100 billion a year to developing countries for climate support and fully replenish the Green Climate Fund. He further expressed his concern as only two G7 countries: ‘Canada and Germany’ who have made the replenishment pledges. He added that it is necessary to do a course correction in the global financial system so that it supports accelerated climate action. That includes putting a price on carbon and pushing the multilateral development banks to overhaul their business models and approaches to risk. It means that we need the multilateral development banks leveraging their funds to mobilize much more private finance at reasonable cost to developing countries and to scale up their funding to renewables, adaptation and loss and damage.
Related links: https://www.youtube.com/watch?v=og7QrAZJQP8