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UN Climate Chief Urges Countries To Deliver On $100 Billion Pledge

patricia espinosa

Executive Secretary Patricia Espinosa (pictured) has urged developed countries to make good on their promise to mobilize USD100 billion annually in climate finance to support the needs of developing nations.

Speaking at the UN Climate Talks taking place virtually from 31 May to 17 June, the UN Climate Chief expressed her frustration that the pledge of financial support, made in 2010, has not yet been met:

“We are still talking about this promise, despite greenhouse gas emissions continuing to be at their highest concentration ever; while extreme weather continues to decimate more parts of the world and with greater intensity; and while vulnerable people continue to suffer, continue to lose their livelihoods and their lives.”

Ms. Espinosa today addressed government delegates at an expert meeting on long-term climate finance.

Her call to action comes shortly before leaders of the world’s largest and most advanced economies prepare to gather for the G7 summit taking place from 9-11 June in Cornwall, United Kingdom, where the issue of building back better from the COVID-19 pandemic with greener, more sustainable economies will take center stage.

For many nations, securing the financing necessary to spur their own transition to a more sustainable future can’t happen without this promised support.

This includes action to cut greenhouse gas emissions and action to build resilience to the inevitable impacts of climate change, such as frequent and severe droughts, floods, and storms.

Meanwhile, the trillions of dollars being spent by governments for COVID-19 recovery packages have demonstrated that the $100 billion annually could be mobilized relatively easily with adequate political will.

Read rest at Mirage News

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