UN Unhappy for Failing to Get 72 Billion a Year Deal for Climate

by Alan Davison | June 27, 2021 5:31 am

The UN has criticized world leaders for not taking the forefront at fighting climate change by providing the much needed funds. The organization has said that financial aid is “critical” to help developing nations fight climate change and reduce fossil fuels. Unfortunately, the initiative by the organization to get funds has fallen in deaf ears and nothing is in the pipeline.

The United Nations head of climate change has blasted and counseled world leaders for taking too long to respond to their promise to fund the initiative. Patricia Espinosa said that the nations are “far away” from reaching an agreement that will help deal with the calamitous impacts of global warming. She said the adaptation is far behind as a key global summit is coming up in Glasgow.

Espinosa, who was Mexico’s foreign minister and now in charge of the climate policy at the UN, said “time is running out and the adaptation needs to be implemented.” She said that a lot may have been said at the G7 meeting held in Cornwall, but no progress has been made to meet the organization’s demands.

What Is the Paris Climate Deal?

The popular Paris Agreement projected a new strategy to help combat global climate change. The pact requires countries globally to make commitments and progressively come together to effectively fight climate change. In essence, it is a global action plan committed to fighting the impact of climate change and great leaders like then-president Barack Obama envisioned.

Unfortunately, many leaders have derailed the progress of the agreement with then-president Donald trump threatening to withdraw the USA from the accord. Many nations are now not honoring their commitment to provide $100bn a year deal to help developing countries invest in green technologies. Espinosa said that the UN climate conference is looming in a few months’ time and the organization is far away from making progress in its plans.

Following the election of Biden and Kamala Harris, the UN was confident that the USA will execute an order to rejoin the revolutionary Paris Climate Agreement. And on February 19, 2021, the country once again became a key player in the global climate solution. Meanwhile, world leaders and countries have been ramping up their efforts to drive the fight against climate change.

The Paris Agreement provides a framework on how each country should support one another. This is either financially, technically, or through capacity-building support. The agreement echoes developed nations should take the pole position in providing financial assistance to vulnerable countries.

The UN feels that much has not been done recently concerning crucial financial aid that all the nations have agreed to back. The head of the UN climate policy feels that global warming is taking a toll on us and a lot needs to be done immediately. The good news is G7 offered hope, and Espinosa said that she hopes there will be a clearer signal about the availability of the funds. She hopes each nation will play its part and see the $100bn fund mobilized and fulfilled.

Honoring this pledge is seen as a crucial step towards fulfilling the goal and vision of the Paris climate agreement. Espinosa went on to say that the UN and every nation out there cannot afford to fail in its mandate. A lack of success will make it hard to fulfill the key aspects of the agreement that include:

Long-term temperature goal whereby the involved parties should help limit global temperature rise to below 2 degrees Celsius. This vision will as well help limit the increase to 1.5 degrees.
Global climate neutrality and peaking where the parties have to aim to reach global peaking of GHGs (Greenhouse gas emissions) and as soon as possible.
Mitigation will also be possible if the parties establish binding commitment. Such initiative will help all parties to prepare, maintain, and communicate a nationally determined contribution (NDC).
The agreement also spurs parties to improve and conserve reservoirs and skins of the Greenhouse gas emissions including forests.
The Paris agreement also recognizes the chances of voluntary cooperation among involved parties to allow transparency, accounting, and environmental integrity.
It establishes a worldwide goal on adaptation that focuses on reducing vulnerability to change and strengthening resilience. This is all in the context of the temperature
The Paris agreement also focus on loss and damage and encourages ways to avert, and reduce adverse effects of climate change.
Climate change training, education, public participation and public awareness are all key aspects enhanced under the agreement.

How Does the Paris Agreement Work?

For the Paris Agreement to be implemented, you require social and economic transformation. Under the nationally determined contributions (NDCs), parties involved can submit their vision and plans for climate change. Countries can communicate their goals to reduce greenhouse gas emissions to reach the set goals.

There are also long-term strategies that every country has to submit to and help reduce climate change. These strategies will help provide a direction for future development. Countries have to support each other financially and through capacity-building, but this is a mandate the United Nations is finding challenging.

Despite the enhanced transparency framework (ETF) commencing in 2024, the UN is finding the progress quite slow as countries are taking long to provide funds. Climate change actions need to be increased significantly, and nations have to provide the necessary resources. Even though some countries have established carbon neutrality targets, better zero-carbon solutions have to be implemented.

What is the Way Forward?

With the many protests and promises at the recent G7 meeting, a lot needs to be done. Wealthier nations should be willing to contribute to the climate change initiative and motivate other nations. This is a condition Patricia Espinosa feels should be followed to have a good basis to a fruitful Cop26 in Glasgow.

She feels that every nation should play its role and give a sense of hope. Rachel Kyte, a former UN climate envoy and the dean of the Fletcher School at Tufts University in Massachusetts backs Espinosa’s opinions and suggestions. She feels that the G7 failed the UN by not agreeing on how to meet the $100bn promise.

Every nation has to make significant finance commitments and help build back a better world that president Joe Biden feels is achievable. With this mind, it will be easy to get the agreement necessary in the UN Climate Change Conference of the Parties in Glasgow.

The good news is the UN is working on all possible solutions to help see the success of the Paris Climate Agreement. It’s time to set up climate change adaptation and foresee the fulfillment of UN plans.

Source URL: https://www.newsinsider.org/763/un-unhappy-for-failing-to-get-72-billion-a-year-deal-for-climate/