This projection, resulting from a report commissioned by the British Presidency of COP26 as the Glasgow Climate Conference approaches the debate on the responsibility of Northern Nations to the nations of the South.
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This is information on climate finances for which two opposite readings can have. A negative, with the confirmation that developed countries did not honor their promise to mobilize $ 100 billion a year, as early as 2020, to help developing countries cope with climate change. Another positive, because they should achieve it in 2023 and that this objective will be exceeded in 2024 and 2025. Despite the three years late, the sum of 100 billion could be achieved on average between 2021 and 2025.
These projections come from a Report published by the British Presidency of COP26 , Monday, October 25, six days from the launch of the UN climate conference in Glasgow (Scotland) , which is crucial to accelerate the fight against climate change. “I hope this report will restore confidence and create an impulse,” said Alok Sharma, the British President of COP26.
“Nothing to do with generosity”
The subject of climate financing is one of the crucial points on the agenda of the Climate Conference, and an explosive subject. In recent months, frustration has steadily grow among the countries of the South, facing northern countries that fail to keep a commitment yet taken twelve years ago.
This objective, Partly contained in the Paris Agreement of 2015 , which extends it over the period 2020-2025, has become the basis of trust between states and one of the engines of climate action. It reflects fairness issues, while developing countries are on the front line of global warming that they are not historically responsible. “North-to-south climate financing has nothing to do with generosity, it is an integral and essential part of a global policy,” recalls the German Secretary of State to the Environment, Jochen Flasbarth.
In 2019, states totaled only $ 79.6 billion, according to The organization of economic cooperation and development (OECD), due to a decline in bilateral public funding and private financing. If the data for 2020 will only be known in 2022, “the goal was almost certainly missed,” Alok Sharma conceded. It will not be reached in 2021 and 2022 either.
In July, Germany and Canada for working on a roadmap on the means to achieve 100 billion. The two countries, assisted by the OECD, identified the new financial commitments of the developed States, as well as those of multilateral development banks. In recent weeks, Multipen nations have put their hands in the pocket , like the United States, New Zealand, the European Union or Canada. The COP26 Presidency is still waiting for announcements by the end of the year.
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