Focus turns to climate finance after flurry of COP26 pledges -Breaking
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© Reuters. An advertisement board can be seen at the UN Climate Change Conference (COP26), Glasgow, Scotland, Britain. November 7, 2021. REUTERS/Yves Herman2/2
Andrea Januta and Elizabeth Piper
GLASGOW, (Reuters) – Governments are pushing for Monday’s agreement about how to assist vulnerable countries in dealing with climate change and compensating them for the damage they have already caused. This is a way for rich and developing nations to see if there can be a compromise on cash for climate change.
At the start of a crunch week for the U.N. climate talks in Glasgow, government ministers will get down to the nitty gritty of trying to honour earlier promises to pay for https://www.reuters.com/business/environment/climate-finance-could-make-or-break-cop26-summit-heres-why-2021-11-01 climate-linked losses and damages and addressing questions of how best to help nations adapt to the effects of climate change.
Britain, which is hosting the COP26 meeting, will again try to set the pace, announcing 290 million pounds ($391 million) in new funding, including support for countries in the Asia Pacific to deal with the impact of global warming.
According to the British government, this funding will go beyond the already existing billions of dollars in international aid from rich countries, such as Japan and the United States. It is meant for the adaptation and resilience of vulnerable nations that have been most affected by climate change.
But while developing countries want more money to help them adapt to higher temperatures https://www.reuters.com/business/cop/whats-difference-between-15c-2c-global-warming-2021-11-07 that have caused more frequent droughts, floods and wildfires, developed nations have encouraged finance to go towards cutting emissions.
We must take action now to prevent climate change from causing more poverty. Anne-Marie Trevelyan was named by the British government as a specialist in adaptation and resilience.
In a statement, she said that “We aim for significant changes that will ultimately contribute sustainable development and climate resilience future for all”, adding that they are working together to achieve this goal.
After a week when many pledges https://www.reuters.com/business/environment/new-promises-glasgow-climate-talks-2021-11-02 were made and richer countries were accused by some developing nations of breaking past promises, Monday’s session will focus on ministers’ arguments on dealing with adaptation, loss and damage.
FIVE MORE DAYS
Only five days remain in the Glasgow talks for cutting deals necessary to preserve the possibility that global warming is limited to 1.5 C above preindustrial levels. This limit will prevent the risk of catastrophic climate effects. The richer countries want to prove they are able to fulfill earlier promises.
It is possible that developing countries are wary. Twelve years ago, at a U.N. Climate Summit in Copenhagen rich countries promised $100 billion per year to developing nations by 2020 in order to adapt to climate change.
At COP26, the richer countries said that they would meet the target by 2023, but some are hopeful of reaching it earlier.
Even more concerning for wealthy nations is the question of whether they should pay less developed countries compensation for damage and loss caused by their historic emissions. Unfortunately, no concrete commitments have been made in this area.
Emily Bohobo N’Dombaxe Dola is the facilitator of the Adaptation Working Group. This official youth constituency of United Nations Framework Convention on Climate Change said she became inspired to act after witnessing the devastating effects climate change had on Senegal.
In a statement, she stated that it was time for donors and governments to improve their efforts in equitable financing and plans for damage and loss as well as adaptation.
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