COP29: UN Sec Gen wants agreement on new ambitious climate finance goal

UN Secretary General, António Guterres has made appeal to Governments to instruct their ministers and negotiators attending ongoing COP29 to make sure they agree on a new ambitious climate finance goal this year.
He made the appeal in his remarks at the G20 session on sustainable development and energy transition in Rio de Janerio Brazil on Tuesday.
Guterres warned that unless we limit global temperature rise to 1.5 degrees Celsius, spiraling disasters will devastate every economy.
“Current policies would take us over three degrees. That means catastrophe. We must get on track for the 1.5 degree limit with countries accelerating their near-term emissions cuts, so that we can reduce global emissions by nine per cent every year this decade.
He noted that unfortunately, right now, emissions are still rising.
“So we must speed-up the just transition from fossil fuels to renewables. They are now the cheapest source of new electricity virtually everywhere.
“The end of the fossil fuel age is inevitable. Let’s make sure it does not come too late – and that it comes with justice. Affected workers and communities must be supported, and economies must be diversified, to ensure jobs and prosperity.
“The next round of national climate action plans is essential to putting the world on the right path.
The Sec Gen said every country’s new plans must align with 1.5-degrees – with unambiguous, absolute emissions reduction targets for 2030 and 2035.
“Cover the whole economy, all sectors, and all greenhouse gases. Contribute to global goals agreed at COP28 to triple renewables capacity, double energy efficiency, and halt deforestation – all by 2030. And align fossil fuel production and consumption plans with 1.5-degrees.
“All this must be achieved in line with the principle of common but differentiated responsibilities. But all countries must do more.
He challenged developed countries to support emerging and developing economies.
We must also take on climate disinformation.
He said Brazil and UNESCO, the United Nations is launching the Global Initiative for Information Integrity on Climate Change.
“We will work with researchers and partners to strengthen action against climate disinformation.
He appealed to governments to instruct their ministers and negotiators at COP29 to make sure they agree on a new ambitious climate finance goal this year.
“Failure is not an option. It might compromise the ambition in the preparation of the new national climate action plans, with potential devastating impacts as irreversible tipping points are getting closer.
“The preservation of the Amazon is a case in point. It would inevitably also make the success of COP30 in Brazil much more difficult.
“We must succeed in Baku, build trust and incentivise the preparation of high ambition national climate plans next year.
“That goal, the financial goal, in its different layers, must meet the needs of developing countries, beginning with a significant increase in concessional public funds.”