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CLIMATE CHANGE

G20 Nations, Accounting for 80% of global emissions, must lead climate change negotiations – Antonio Guterres

November 13, 2024 2 min read

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.

β€œDeveloped countries must honor their commitment to double adaptation finance to at least $40 billion annually,” Guterres stated.

According to him, β€œThe G20 account for around eighty percent of global emissions.

β€œAnd it is an injustice that must end.

β€œYour nations – the Small Island Developing States – are demonstrating what climate ambition looks like. You are the first responders

β€œThe 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, β€œYou deserve support to deal with a crisis you have done next to nothing to create.

β€œWe must get serious about loss and damage.

β€œWe need significant contributions flowing to the Loss and Damage Fund – so it can have a meaningful impact.

β€œWe also need a surge in funds for you to protect your people from climate impacts; impacts that are growing in strength and frequency.

β€œEvery 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.

β€œDeveloped 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.

β€œBut these measures can take us so only so far.

β€œUltimately, 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.

β€œA new climate finance goal is essential to mobilize trillions of dollars, with increased concessional public funds and innovative financing sources,” Guterres mentioned.