At least half of climate finance should be spent on adaptation

At least half of climate finance should be spent on adaptation

The UN secretary-general has said that to mitigate the effects of climate change, the world must devote at least 50 percent of total climate finance to adaptation, such as protecting lands threatened by rising water levels. sea ​​and those who move whose homes cannot be saved, the UN secretary general said. Antonio Guterres Friday.

The problem is particularly acute in developing countries.

“Developing countries received only $ 16.8 billion in 2018, against adaptation costs of some $ 70 billion,” Guterres said.

“We need to commit to at least 50% of climate finance for adaptation. “

He said the cost of climate adaptation in developing countries is expected to reach $ 300 billion per year by 2030.

UN Secretary-General Antonio Guterres, who was addressing the Forum of Large Economies on Energy and Climate, said on Friday that the world was not doing enough to reduce carbon emissions, leaving us on track catastrophic climate change. is being postponed.

“The world is on a disastrous 2.7-degree warming path,” Guterres said. “We need a 45% reduction in emissions by 2030 to achieve carbon neutrality by mid-century. “

The latest Nationally Determined Contribution report, scheduled for release on the Friday before COP 26 in November, contains information on what countries need to do to meet the targets set in the 2015 climate agreement. signed in Paris. Even with this report, emissions continue to rise, Guterres said.

“Today’s data shows that emissions increased 16% in 2030 from 2010 levels,” he said.

In particular, Guterres called for the production of coal.

“If all the planned coal plants become operational, we will not only obviously be above 1.5 degrees – we will also be above 2 degrees. The Parisian targets will go up in smoke, ”said Guterres. “We need a coalition of solidarity – between countries which still rely heavily on coal and countries which have the financial and technological resources to support the transition.”

He also warned of a “high risk of failure of COP26”, citing the period from October 31 to November 12.

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