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#WATCH | Kathmandu, Nepal: On Nepal formally approaching UN-backed Fund for Responding to Loss and Damage (FRLD) for urgent support, with recovery costs estimated in the range of $4–7 billion, Nepal Foreign Minister Shisir Khanal says, "Paris Agreement and Loss & Damage Fund are part of broader global agreements....

19,247 Aufrufe • vor 16 Tagen •via X (Twitter)

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🎙️Hear @AvinashPersaud15 of Barbados deliver a compelling and constructive intervention on behalf of developing countries on Saturday morning, November 4th, following the latest draft decision text at the #TC5 #LossAndDamage meeting. Summary text: We all owe the TC co-chairs, Richard and Outi, a great debt. They shall forever be welcome in Barbados when they need to revive and regain their sanity. We have all, across the aisle, worked hard for an outcome and clean text. We have recognised, understood and accommodated the challenges that individual countries and groups of countries face. - We have accepted that this process is not about compensation and liability. - We have accepted a World Bank FIF (interim) instead of a standalone Fund. - We have accepted convoluted safeguards on eligibility and allocation. But there comes a point when you retreat so far that nothing is left behind you. To accept this language on sources of funding would be to give credibility to a dangerous retreat of multilateralism that will unravel efforts on mitigation and adaptation. You can kiss goodbye to ambitious NDCs and NCQGs when we need them most. This would be less than nothing. We believe in substance over fossilised definitions, but let us be clear: developed countries, as defined in the Convention, account for 79% - nearly 80%. - of the greenhouse gasses in the atmosphere causing global warming. This has led to almost $200bn of loss and damage a year in the most vulnerable developing countries! For developed countries to accept no responsibility and to force us into a retreat to volunteerism from multilateralism will mean that this Fund will never seriously be of the size and importance to address the scale of the problem. In the spirit of global solidarity, we have sought the minimum we can live with, and without which we cannot agree to this text. The Governing instrument must have four things: 1. A recognition that what is agreed here is not prejudicial to what is being negotiated elsewhere in climate finance. 2. A recognition that developing countries are today bearing the bulk of loss and damage, and the purpose of this Fund is to support them. 3. A recognition of the scale of loss and damage that this Fund and Funding arrangements need to address. 4. A re-iteration of what was agreed at Glasgow: That developed country Parties, the operating entities of the Financial Mechanism, United Nations entities and intergovernmental organisations and other bilateral and multilateral institutions, including non-governmental organisations and private sources, are urged to provide enhanced and additional support for activities addressing loss and damage associated with the adverse effects of climate change. The Glasgow language was not a 'developing country text'. We felt it needed to be stronger, but we agreed to it. The idea that this language is irrelevant today because it was decided before a Fund existed beggars belief and all credibility. To say that binding, agreed, broad commitments made before a fund existed were necessarily greater than could be expected to stand after a fund is set up is illogical and questions and undermines the Glasgow Agreement. We accept Glasgow. Developed countries are rejecting it. These four things are necessary to accept the text here. It is less than nothing. Without these four minimum points, we would prefer to go to #COP28 to explain and argue our case. For further context read this:

Harjeet Singh (@harjeet11.bsky.social)

12,125 Aufrufe • vor 2 Jahren

Excellencies, Distinguished Delegates, It is an honour to address this Biennial Summit. We gather at a moment when the 2030 Agenda is in peril. It is estimated that we need to close a financing gap of $4 trillion annually if we are to meeting the Sustainable Development Goals. A succession of crises has exposed the fragility of our interconnected economies and revealed deep inequities in our capacity to respond. While some nations are able to mobilise trillions to shield their citizens and economies from pandemics and other emergencies, others are left constrained by debt and denied fair access to global capital. We should use this Summit to push for the full implementation of commitments made across various forums – from the Financing for Development process to the #G20 and Climate Change COP. We must strengthen coordination between the UN, the African Union, the G20, international financial institutions and other global financial actors, embedding inclusivity at the heart of global economic governance. To close the SDG financing gap, we need to undertake the following bold measures: Firstly, we need debt relief and restructuring that is faster, fairer and more comprehensive. Secondly, we need to mobilise affordable, accessible financing from a wide range of sources. Thirdly, we need to rechannel unused Special Drawing Rights to countries in need. Fourthly, we must scale up concessional finance through development banks. Lastly, we must reform global tax rules to curb illicit financial flows Beyond financial instruments, we need confidence that commitments will be honoured and that global rules will be shaped by all members, not just a few. Let us forge a new compact for financing sustainable development rooted in solidarity, equity and mutual accountability. South Africa stands ready to ensure this Summit becomes a turning point in our collective effort to build a sustainable, inclusive and resilient global economy. I thank you. #UNGA80 🇺🇳

Cyril Ramaphosa 🇿🇦

28,309 Aufrufe • vor 1 Jahr