Following his return from the G20 Summit in Rio, UN Secretary-General António Guterres has reiterated the urgent necessity of setting an ambitious climate finance goal. During this critical period before the conclusion of COP29 in Azerbaijan, negotiations remain fraught over financial commitments to aid developing countries facing climate-induced challenges like floods and wildfires. Although progress has been noted, significant differences persist.
Guterres stressed that failing to reach a consensus could have catastrophic consequences, complicating future climate efforts, including preparations for COP30 in Brazil. He underscored the vital role of an ambitious financial package to help developing nations implement climate action aligned with the 1.5-degree Celsius target, stressing that this is an investment in a safer, more prosperous future for all nations—not charity.
The Secretary-General highlighted the multilateral development banks’ pledge to increase climate finance and emphasized the Pact for the Future, which aims to improve financial access and boost development banks’ lending capacities. He called for unity and collaboration across geopolitical divides, urging negotiators to focus on the bigger picture to ensure a liveable planet for future generations.
Guterres concluded with a powerful reminder of the urgency and stakes involved, asserting that COP29 must yield benefits not just for those in negotiations but for all humanity.
Original Story https://news.un.org/feed/view/en/story/2024/11/1157276
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