‘Rich nations must deliver climate finance’

Antonio Guterres

New York: Demanding much bolder climate action from G20 nations, UN Secretary General Antonio Guterres on Thursday said that developed countries must uphold their promise to deliver $100 billion dollars in climate finance annually to the developing world before COP26.

His remarks during the UN Security Council briefing on the ‘Role of Climate Action in Maintaining International Peace and Security’ came in wake of inadequate climate action by many countries, especially rich nations, ahead of the COP26, the annual climate change negotiations meet at Glasgow from October 31.

We need a breakthrough on adaptation and resilience to deal with the already dire impacts of climate disruption on the lives and livelihoods of people all over the world. It is essential that at least 50 per cent of climate finance globally is committed to building resilience and supporting adaptation. Annual adaptation costs in developing countries are estimated at $70 billion, and they are expected to reach up to $300 billion a year by 2030, he said, adding: Huge gaps remain in adaptation finance for developing countries.

We simply cannot achieve our shared climate goals – nor achieve hope for lasting peace and security – if resilience and adaptation continue to be the forgotten half of the climate equation, Guterres warned.