UN climate chief Simon Steele has called on leaders of major economies to deliver a clear message on global climate finance at the G20 summit in Rio de Janeiro next week. The message is expected to help secure financial aid agreements for poor countries to combat the effects of climate change. British news agency Reuters reported this.
In a letter, Steele said, there should be a clear global message from the upcoming conference. It is the responsibility of developed countries to enable weaker countries to cope with climate change through grants, loan increases and debt relief.
Business leaders also responded to Steele's call. They said the lack of progress and focus on climate talks is alarming.
Brazil's climate official Ana Toni hopes for a strong message from the G20 summit. He believes that this message will play an important role in making the ongoing COP 29 conference talks in Baku successful.
This discussion on financing mechanisms to combat the effects of climate change will determine the direction of the global community's commitments and actions. Everyone hopes to move forward on the path of progress and solutions through the G20 summit.
Economists say developing countries need at least one trillion US dollars a year by 2030 to combat climate change. However, the concern is that the COP-29 negotiations have not made the expected progress on financing.
European experts have accused major oil-producing countries such as Saudi Arabia of stalling talks on changes to the energy system. Saudi Arabia has not commented on this.
Uganda's Energy Minister Ruth Nankabirwa says the money needed to transform the entire energy sector into an environmentally friendly system is lacking. As a result, the question remains whether change is possible at all.
