The spiritual grandchild of the Rio Earth Summit agreement of 23 years ago, the universal climate agreement (UCA), is the world's best chance to limit global temperature increase to two degrees Celsius. The universal hope is that it will be adopted at the global climate change summit in Paris, France, in December 2015. The UCA is important because it will record different countries’ commitments to reduce their carbon dioxide emissions, and, this time around, developing countries, too, will make commitments to reduce their emissions—and they are looking for how to fund the actions they will need to take.
How much money is needed by developing countries? Estimates are around US$ 450 billion per year from 2020 on: US$ 350 billion for reduced emissions and US$ 100 billion for adapting to the impacts of climate change. Some of this money will be provided by countries themselves. But to reach their emission reduction targets, a significant fraction will also need to come from developed countries in the form of official climate finance (OCF). These numbers may sound overwhelming, but context is paramount—they should be compared to net inflows of debt and equity into developing countries, which are estimated to be above US$ 1.2 trillion per year.
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Climate Diplomacy Week is a perfect opportunity to highlight positive climate action, set new goals and engage more and new actors in the fight against the devastating impacts of climate change. Each year, the week has its own character. Climate Diplomacy Week 2018, from 24-30 September, was marked by action – throughout the world, civil society participated in inspiring educational activities and engaged the wider public in the climate cause.
In a move that underscored Donald Trump’s isolation on trade and climate change, the two major economies inserted a reference to the Paris Agreement into Ceta.
Fourteen Latin American and Caribbean countries made history at the UN General Assembly on September 27 by signing the Escazú Agreement, a regional accord on public participation and access to information and justice in environmental affairs. It is the first region-wide agreement of its kind and has been touted a big step forward in recognising the rights of environmental defenders. Signatories now need to ratify the Agreement internally before it can enter into force.
Though India is now pushing for BIMSTEC, geography dictates that it cannot ignore SAARC. South Asia is extremely vulnerable to a range of climate impacts, ranging from shrinking glaciers and water scarcity to floods and rising sea levels. Responding to these risks is a complex task, also because often impacts affect more than one country and their severity exceeds the capacity of national governments. Climate change creates new challenges for regional organisations, and simultaneously increases their relevance.