COP28 UAE and United Nations Framework Convention on Climate Change (UNFCCC) on Thursday pushed G20 countries to “transform” climate finance arrangements to work better as a system and to support private finance mobilisation at unprecedented levels while asking them to take a “greater leadership” on climate change mitigation.
Dr Sultan Al-Jaber, COP28 President-Designate and Simon Stiell, Executive Secretary of UNFCCC released a joint statement on the side-lines of the 4th Environment and Climate Sustainability Working Group Meeting with an appeal to the G20 countries to “lead the way” on delivering a “positive outcome” on mitigation at the COP28 climate conference this year.
With just 128 days to go for the COP28 meeting in UAE from November 30 until December 12, the leaders also called on G20 nations “to urgently prioritise” their revised commitments, whether NDCs, NAPs or on climate finance, including contributions to the ambitious replenishment of the GCF to align with the Paris Goals.
COP28 and UNFCCC also pushed the G20 countries to affirm their commitment to achieving the operationalization of the fund and funding arrangements.
“Those at the frontline of climate change need our support now, not in 5 years’ time. This is the benchmark for ambition. G20 should show that it can deliver for the most climate vulnerable, including the least developed countries and small island developing states,” Al-Jaber and Stiell said in the statement.
Delivering on the 2030 agenda will depend on making climate finance more available, affordable and accessible to developing countries, they said, adding that climate finance arrangements should be transformed to deliver at the necessary scale, to work better as a system and to support private finance mobilisation at unprecedented levels.
“We must leave Chennai on the right path and with a clear signal that the political will to tackle the climate crisis and launch a new era of development is within our grasp because it is only a short path to COP28. Every meeting counts, every outcome must bring us closer. The world needs its leaders to unite, act and deliver; and that must start with the G20,” they added.
Urging G20 nations to raise the importance of defining a Global Goal on Adaptation (GGA) and operationalizing the loss and damage fund and funding arrangements to an equal level, COP28 and UNFCCC also asked the countries to “lead the way” on delivering a positive outcome on mitigation at the COP28 climate conference this November-December
“Science demands a strong mitigation outcome at COP28 that drives a significant reduction in emissions and builds on the progress of previous COPs, and we call on the G20 to lead the way on the basis of both science and equity and lay the path to a strong and credible outcome that provides developing countries with the basis to undertake a just transition,” they said.
The joint statement also said G20 countries must take necessary steps to accelerate the inevitable phase-down of all fossil fuels in a responsible manner, in order to have an energy system free of unabated fossil fuels by the middle of this century while enabling access for all and promoting sustainable development.
The two leaders reiterated the importance of tripling global renewable energy capacity and doubling the rate of energy efficiency improvements across sectors by 2030.
Al-Jaber and Stiell expressed their hope that any progress achieved by the G20 drives decisively a strong outcome at COP28 under the Global Stocktake and capitalizes on the Just Transition Work Programme established at COP27.