November 13, 2024
By Samuel Ogunsona
Again, the United Nations Secretary-General, Antonio Guterres, has urged the G20 nations, responsible for around 80% of global emissions, to take the lead in climate change negotiations.
This was contained in a statement delivered by the UN Chief at the ongoing COP29 Leader’s Summit of Small Island Developing States on Wednesday, November, 13, in Baku, Azerbaijan.
The Secretary-General emphasized that Small Island Developing States are disproportionately affected by climate change, facing rising seas, record hurricanes, and torn economies.
“Developed countries must honor their commitment to double adaptation finance to at least $40 billion annually,” Guterres stated.
According to him, “The G20 account for around eighty percent of global emissions.
“And it is an injustice that must end.
“Your nations – the Small Island Developing States – are demonstrating what climate ambition looks like. You are the first responders
“The world must follow you. And it must support you” He mentioned.
The Chief who emphasized on need to get serious with the loss and damage funds implemented on the first day at the last summit in Dubai stressed that small island countries in all means be protected from climate disasters.
He said, “You deserve support to deal with a crisis you have done next to nothing to create.
“We must get serious about loss and damage.
“We need significant contributions flowing to the Loss and Damage Fund – so it can have a meaningful impact.
“We also need a surge in funds for you to protect your people from climate impacts; impacts that are growing in strength and frequency.
“Every one of you must have the chance to build resilience. And to seize the benefits of adaptation to drive progress across the sustainable development goals.
“Developed countries must honour their commitment to double adaptation finance to at least $40 billion a year by next year. This is an important step to closing the adaptation finance gap.
“But these measures can take us so only so far.
“Ultimately, we need more fundamental reform” he said.
The Secretary-General stressed the need for fundamental financial reform, including debt relief, SDG Stimulus, and improved access to concessional finance for developing countries.
“A new climate finance goal is essential to mobilize trillions of dollars, with increased concessional public funds and innovative financing sources,” Guterres mentioned.
