Developed countries' failure to commit to climate finance 'disappointing', UNFCCC says

ISTANBUL

The delivery of contributions from many developed countries to the climate finance pledge has been disappointing, the Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) told Anadolu Agency in an interview.

Speaking on the sidelines of the 26th session of the Conference of the Parties (COP26) to the UNFCCC, Patricia Espinosa said that although many developed countries failed to do their part in contributing to the $100 billion pledge for vulnerable economies, she was confident of its achievement in 2023.

"We have presented the $100 billion delivery plan, and it shows that the pledges did not become a reality in 2020, nor will it come together this year. I do know that there are efforts already from rich countries to try to put together the $100 billion for next year. Still, it is very disappointing that many did not deliver," she said.

In 2009, developed countries committed to the goal of jointly mobilizing $100 billion a year by 2020 to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation.

The goal was reaffirmed under the Paris Agreement in 2015 when the parties committed to continue delivering on the goal through 2025.

She called for a concerted effort to realize this goal.

"What happened in the past, we cannot change. So, we need to look to the future and see how we can address the different points that are also presented in the delivery plan on access to finance, an increase in public finance, and predictability and adaptation," she said.

Emission gap still very big

She also urged for participants to address the emissions gap in negotiations.

"According to the national determined contributions (NDCs) presented so far, we are still far from where we need to go. Although at the same time, analysis from new or updated data shows they are effective in reducing the expected emissions. Thus, we need to strengthen those NDCs because the gap is still very big," Espinosa said.

According to the UN, renewed NDCs would see emissions climb by 13.7% by 2030 before sharply dropping thereafter. However, emissions need to fall by 45% by 2030 to keep in line with the 1.5-degree goal of limiting the global temperature rise.

As Espinosa views climate change as a cross-cutting issue in all areas of the economy and society, she called for an acceleration of the process and for clarity in negotiations to have concrete decisions and commitments made towards a set goal in the future.