A banner by demonstrators at COP26 called for more action by leaders otherwise such meetings risk degenerating into mere talk shows. Emblazoned “No more blah blah, your greed our death”, the demonstrators called for world leaders to accelerate their pace to combat the effects of climate change.
The effects of climate change have been evident over the past years—droughts, cyclones and floods—a cue of worse things to come.
The world needs solutions to the effects of climate change, otherwise such meetings will become talk shows.
Unlike previous meetings world leaders were unanimous the wheels have to move much faster.
UN secretary general António Guterres set the tone on Monday telling world leaders that addiction to fossil fuels is pushing humanity to the brink. He said it was time to say enough of treating nature like a toilet.
His moving speech jolted other leaders to action with the US and the EU announcing a global partnership to cut emissions of the greenhouse gas methane by 2030.
The Global Methane Pledge seeks to reduce methane emissions by 30% compared with 2020 levels and more than 100 countries have signed up the initiative.
The push to reduce methane emissions also comes as some of the world’s biggest economies have taken bold steps by dumping coal as a source of energy. They have also told their banks not to finance any coal-fired projects in developing countries as commitment to their drive towards clean energy.
Guterres said COP must be a moment of solidarity. He said the US$100bn a year climate finance commitment in support of developing countries must become a $100bn climate finance reality to restore trust and credibility.
According to the UN Climate Change Conference UK 2021 website the US$100bn a year climate finance must include building new markets for adaptation and mitigation and improving the quantity, quality and access to finance to support communities around the world to take action on the changing climate.
Some of the global powers took a lead with Germany announcing on Tuesday it would give South Africa over US$800m to help one of Africa’s biggest economies to phase out the use of coal. In total, South Africa secured US$8.5billion in funding to help it shift from coal energy. The deal which will also be financed by the US, UK, France and EU will invest in renewable energy and protect coal workers and communities. South Africa is the most carbon inefficient economy in the G20 with nearly 90% of electricity coming from coal. Meanwhile, American billionaire Jeff Bezos has pledged $2billion through his Bezos Earth Fund for land restoration in Africa. Two thirds of the land in Africa is degraded, but this can be reversed. The new pledge will be put toward landscape restoration and food systems transformation. The OECD estimates that $79.6bn of climate finance was mobilised in 2019. The UK is doubling its international climate finance commitment to help developing nations with £11.6bn over the next five years up to 2025/2026. For developing countries, they needed far greater resources to fight Covid-19, to build resilience and pursue sustainable development in addition to the US$100bn climate finance facility as Guterres observed this week.
It is a vital point which has to be taken on board as the one size fits all will leave other countries behind. However, leaders have to take note that countries are at different stages of development. Some citizens especially in Africa have no access to electricity and it would be difficult to convince those countries to dump thermal-powered stations which are catering for their power needs. There is a need for a fund to help developing countries to migrate to clean energy sources.
