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A UN official said after a closed-door meeting on the sidelines of the General Assembly on Monday that it is expected that US President Joe Biden will announce “good news” to resolve the US$100 billion shortage of the Global Climate Fund.
Biden will speak at this world institution for the first time as President of the United States on Tuesday. Climate Envoy John Kerry represented Biden at a meeting convened by the United Kingdom and United Nations Secretary-General Antonio Guterres.
Before the Paris Agreement was reached in 2015, developed countries pledged to raise US$100 billion a year from 2020 to support poorer countries in adapting to climate change, but the current gap is about US$20 billion.
“We did hear from the American representative in the room…some good news is coming,” the UN official said, adding that “the American representative sent a very positive view and signal.”
“Of course, we don’t have details, but hope this will help clarify how the United States intends to step up its support to mobilize $100 billion.”
After a series of recent scientific reports painted a bleak picture of the earth’s future, the statement brought a glimmer of hope for the climate, as the world’s largest polluters continue to emit greenhouse gases at an alarming rate.
British Prime Minister Boris Johnson, who co-chaired the meeting, held accountability for leaders’ failure to deliver on their commitments to the fund, which aims to deliver US$100 billion annually from 2020 to 2025.
“Everyone nodded, and we all agreed that’something must be done’,” Johnson said, and his country will host the key COP26 The Climate Summit in Glasgow in November.
“However, I admit that I am getting frustrated because many of you are not doing enough,” he added in a comment shared by his office.
Last week, the OECD confirmed that only US$79.6 billion had been mobilized in 2019.
“We heard…weak signs of progress from some industrialized countries,” Johnson told reporters after the meeting, referring to Sweden and Denmark.
Both countries have announced that they will use 50% or more of their climate funding for adaptation in developing countries, which is another key goal of the United Nations.
“Let’s see what the President of the United States has to say tomorrow,” he added, hinting at upcoming news.
Transition from coal
As far as the United Kingdom is concerned, it hyped its $15 billion climate financing commitment for the next five years and announced on Monday that $750 million of it will be used to support developing countries to achieve net zero emissions targets and stop using coal.
“We are the ones who create problems-the industrial revolution began more or less in our country,” Johnson said.
“So of course I understand the feelings of injustice in developing countries… but I told them that this is why we have to get funding to help you make the progress you need.”
On August 31, 2019, a coal barge was waiting to be pulled on the Mahakam River in Samarinda, East Kalimantan Province, Indonesia.The Climate Fund aims to help developing countries reduce their dependence on coal [Willy Kurniawan/Reuters]This meeting is where Guterres warned that the world is in the “Catastrophic”To 2.7C (4.9F) After United Nations scientists released the latest blockbuster report last week, the earth has warmed.
This figure will break the temperature target of the Paris climate agreement, which aims to keep the temperature rising well below 2C (3.6F), and it is better to control it at 1.5C (2.7F) higher than the pre-industrial level.
Guterres told reporters that he described the meeting with Johnson as “a wake-up call to instill a sense of urgency into the grim state of the climate process before COP26.”
While recognizing that “developing countries need to take the lead,” the Secretary-General also called on “several emerging economies” to “double their efforts.”
This means countries such as China, India, Brazil, Russia, Indonesia, and South Africa.
The Paris Agreement requires net zero emissions by 2050 and substantial emissions reductions by 2030 to achieve the 1.5C target.
So far, the global temperature has only increased by 1.1 degrees Celsius. In recent months, the world has experienced a series of weather disasters exacerbated by climate change, from heat waves that melt asphalt to flash floods and untamed wildfires.
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