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The Missing $1 Trillion
  + stars: | 2024-04-18 | by ( David Gelles | Manuela Andreoni | ) www.nytimes.com   time to read: +1 min
Discussions about how to reform lumbering multilateral bureaucracies can get tedious quickly. How to make more money available for developing nations that are being battered by extreme weather? And how to make sure poor countries don’t spend too much money servicing their debt? Experts estimate that at least $1 trillion a year is needed to help developing countries adapt to hotter temperatures and rising seas, build out clean energy projects and cope with climate disasters. “For many countries, they will only be able to implement strong new climate plans if we see a quantum leap in climate finance this year,” Simon Stiell, the United Nations climate chief, said in a speech last week.
Persons: ” Simon Stiell Organizations: World Bank, International Monetary Fund, United Nations Locations: United
“Climate and conflict are two leading drivers of (our) global food crisis,” the secretary-general said. And in Myanmar, prospects of ending hunger have gone into reverse because of conflict and instability, he said. Simon Stiell, the United Nations climate chief, told the council that climate change is contributing to food insecurity and to conflict. Framework Convention on Climate Change said the Security Council “must acknowledge more can be done rather than hoping the problem will go away — which it won’t.”The U.N.’s most powerful body should be requesting regular updates on climate security risks, he said. But climate change, environmental and security pressures have led to increased tensions and competition between herders and farmers for scarce resources including water and land, she said.
Persons: Antonio Guterres, , , Guterres, Simon Stiell, ” Stiell, Beth Bechdol, ” Bechdol, Bechdol, Mohamed Irfaan Ali, ” Ali, U.N, Vassily Nebenzia, Nebenzia Organizations: UNITED NATIONS, United Nations, , . Security Council, Security, Agriculture Organization Locations: Russia, , Gaza, Syria, Myanmar, United, Food, Central Africa, Africa, Haiti, United States, Yugoslavia, Libya, Afghanistan, Iraq, Russian
To keep Earth from overheating too much, the nations of the world need to put fewer loopholes in climate agreements and far more money — trillions of dollars a year — into financial help for poor nations, the United Nations climate chief said Friday. In an unusual and blunt lecture at a university in Baku, Azerbaijan, the host city of upcoming international climate negotiations later this year, United Nations Climate Change Executive Secretary Simon Stiell called gains made in the past not nearly enough. Richer nations have promised less than 5% of that amount in climate financial help to poor nations — and they often haven't even delivered that much. “It's already blazingly obvious that finance is the make-or-break factor in the world's climate fight,” Stiell said. “The time has passed for business-as-usual in all aspects of the world's climate fight,” Stiell said.
Persons: Simon Stiell, , Stiell, Richer, “ It's, ” Stiell, Anne Rasmussen, Jean Su, Su, Joanna Depledge, ___ Read, Seth Borenstein Organizations: United Nations, United, Climate Finance, United Arab Emirates, , Biological Diversity, Cambridge University, Climate, Associated Press Locations: United, Baku, Azerbaijan, United Nations, China, Nations, Brazil, Grenada, United Arab, United States, England, Dubai, AP.org
COP28 president Sultan Ahmed Al Jaber speaks during the Transforming Food Systems in the Face of Climate Change event on the sidelines of the COP28 climate summit at Dubai Expo on December 1, 2023. "We delivered world first after world first," the UAE summit presidency said in a further social media update. And we have language on fossil fuels in our final agreement." Many believed the COP28 summit could only be considered a success if it resulted in a deal to phase out all fossil fuels. COP28 President Sultan al-Jaber sparked a backlash earlier this month after he claimed there is "no science" behind calls for a phase-out of fossil fuels.
Persons: Sultan Ahmed Al Jaber, Ludovic Marin, Licypriya Kangujam, Sean Gallup, Wopke Hoekstra, Alok Sharma, Sharma, CNBC's, Simon Stiell, We're, John Kerry, Selma de Montgomery, Avinash Persaud, Mikhail Gitarskiy, Sultan al, Jaber, he'd, Al Organizations: Food Systems, Dubai Expo, Afp, Getty Images, UAE Consensus, UAE, United Arab Emirates, Getty, Russian, BBC, Abu, Abu Dhabi National Oil Co Locations: Dubai, UAE, United Arab, United Arab Emirates, Pacific, Caribbean, Latin America, Africa, Asia, North America, Paris, United States, China, Denmark, Barbados, Moscow, Abu Dhabi
"We cannot save a burning planet with a fire hose of fossil fuels," Guterres said in a speech to the COP28 summit in Dubai. "The 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels. He urged fossil fuel companies to invest in a transition to renewable energy sources and told governments to help by forcing that change - including through the use of windfall taxes on industry profits. "I urge governments to help industry make the right choice – by regulating, legislating, putting a fair price on carbon, ending fossil fuel subsidies, and adopting a windfall tax on profits," he said. Reporting by William James, editing by Elizabeth PiperOur Standards: The Thomson Reuters Trust Principles.
Persons: Lalla Hasna, Luiz Inacio Lula da Silva, Antonio Guterres, Simon Stiell, Guterres, William James, Elizabeth Piper Organizations: United Nations, Thomson Locations: DUBAI, Dubai
By Alexander CornwellDUBAI (Reuters) - Britain's King Charles began a visit to the United Arab Emirates on Thursday, during which he will advocate for greater global action and accountability on climate change at the COP28 summit. It will be his first major speech on climate change since he became monarch in September 2022. Other world leaders including India's Prime Minister Narendra Modi and Britain's Prime Minister Rishi Sunak are also expected to attend the talks. After a year of record temperatures, the pressure is on for this year's summit to accelerate action to limit climate change. Countries, however, are divided over the future of fossil fuel - the burning of which is the main cause of climate change.
Persons: Alexander Cornwell DUBAI, Britain's King Charles, Narendra Modi, Rishi Sunak, Joe Biden, Xi Jinping, King Charles, Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Nahyan, Simon Stiell, Bola Tinubu, Irfaan Ali, Watt, Alexander Cornwell, Barbara Lewis Organizations: Reuters, United Arab Emirates, India's, Britain's, U.S, United Arab, Organization of, Petroleum, UAE Prime Minister, First Nations, Scottish, Heriot Locations: Gulf, Dubai, United Arab Emirates, United Nations, British, UAE
DUBAI, Nov 30 (Reuters) - Britain's King Charles began a visit to the United Arab Emirates on Thursday, during which he will advocate for greater global action and accountability on climate change at the COP28 summit. It will be his first major speech on climate change since he became monarch in September 2022. After a year of record temperatures, the pressure is on for this year's summit to accelerate action to limit climate change. Countries, however, are divided over the future of fossil fuel - the burning of which is the main cause of climate change. [1/6]Britain’s King Charles arrives to meet the students at Heriot-Watt University Dubai, during the COP28 summit in Dubai, United Arab Emirates, November 30, 2023.
Persons: Britain's King Charles, Narendra Modi, Rishi Sunak, Joe Biden, Xi Jinping, King Charles, Alexander Cornwell, Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Nahyan, Simon Stiell, Bola Tinubu, Irfaan Ali, Watt, Barbara Lewis Organizations: United Arab Emirates, India's, Britain's, U.S, United Arab, Organization of, Petroleum, Heriot, Watt University Dubai, REUTERS, UAE Prime Minister, First Nations, Scottish, Thomson Locations: DUBAI, Gulf, Dubai, United Arab Emirates, United Arab, United Nations, British, UAE
This reveals a stark gap between the course nations are charting and what science says is needed to avert the most catastrophic impacts of climate change. The hurricane’s intensification — a phenomenon linked to climate change — was among the fastest forecasters had ever seen. It found that if all long-term strategies were implemented on time, these countries’ emissions could be roughly 63% lower in 2050 compared to 2019. “COP28 is our time to change that.”At COP28, countries will complete the global stocktake exercise, where they assess progress on climate action. The process is intended to feed into the next round of more ambitious national climate action plans due to be submitted to the UN in 2025.
Persons: , , Simon Stiell, General António Guterres, Quetzalli, ” Stiell, Organizations: CNN, UN, United Nations, Reuters Locations: Paris, Hurricane, Acapulco, Mexico, Dubai, , COP28
Despite the clear human and environmental toll of global warming, countries are taking only “baby steps” to rein in greenhouse gas emissions, a senior United Nations official said, summarizing a new U.N. report card on the promises made by governments so far. The U.N. findings, published Tuesday, are the latest of several assessments that paint a dire picture in which the countries aren’t doing nearly enough to keep global warming within relatively safe levels. “Today’s report shows that governments combined are taking baby steps to avert the climate crisis,” said Simon Stiell, the executive secretary of the U.N. climate change agency. That’s roughly the level of warming that is projected if every country meets its climate goals. Saudi Arabia is of course one of the world’s biggest oil producers, and it is the burning of oil and other fossil fuels that’s warming the planet by releasing greenhouse gases into the atmosphere.
Persons: , , Simon Stiell Organizations: United Nations Locations: Saudi Arabia
Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) looks on during the opening session at the UNFCCC SB58 Bonn Climate Change Conference on June 05, 2023 in Bonn, Germany. The Bonn Climate Change Conference, which wrapped late Thursday, is designed to prepare decisions for adoption at the COP28 summit in the United Arab Emirates later this year. For many at the two-week-long event, the lack of progress on issues such as climate finance and the pace of cuts in carbon pollution left a lot to be desired. The UAE, the third-largest oil-producing member of the Organization of the Petroleum Exporting Countries, will host the COP28 summit from Nov. 30 to Dec. 12. WRI's Waskow said that, while the thorny issue of climate finance was not on the official agenda, "it clearly cast a shadow over the negotiations."
Persons: Simon Stiell, David Waskow, Waskow, WRI's Waskow Organizations: United Nations, Change, United Arab, World Resources Institute, Organization of, Petroleum Locations: Bonn, Germany, United Arab Emirates, UAE, Paris, Dubai
"The attention of many leaders has been going to other issues," said Espinosa, who led the U.N. climate change body - called the U.N. Framework Convention on Climate Change, or UNFCCC - from 2016 until July this year. "This is a very important conference in order to really get again the issue of addressing climate change very, very high up on the agenda," she told Reuters. Countries' national climate pledges put the world on track to warm by 2.5 degrees Celsius above pre-industrial levels, overshooting the 1.5C threshhold beyond which scientists say climate change impacts will significantly worsen. Executive Secretary of the United Nations Framework Convention on Climate Change Patricia Espinosa speaks during an interview with Reuters at a United Nations Information Center offices in Washington, U.S., December 7, 2021.
Race to Zero members agree to "phase out development, financing and facilitation of new unabated fossil fuel assets, including coal," in line with science-based scenarios. Environmental advocates are concerned that GFANZ members won't be held to that standard or others without their commitment to Race to Zero. The change comes amid tensions between GFANZ and Wall Street firms over how far they should go in their climate commitments. GFANZ said its affiliation with the United Nations will continue. United Nations climate chief Simon Stiell will join a group responsible for setting its strategy and priorities, and monitoring progress, GFANZ added.
The world is "nowhere near" hitting its targets to cut greenhouse gas emissions, putting it on track to soar past the limit for global warming countries committed to in the landmark 2015 Paris Agreement, the United Nations has warned. But the impact of countries' pledges to ramp up their climate fight is falling short, scientists behind the report warned. “We are still nowhere near the scale and pace of emission reductions required to put us on track toward a 1.5 degrees Celsius world,” Simon Stiell, head of the U.N. climate office, said in a statement. But it found that just 24 new or updated climate plans were submitted by countries since COP 26. “The fact that only 24 new or updated climate plans were submitted since COP 26 is disappointing," said Stiell.
The UN Intergovernmental Panel on Climate Change says a 43% reduction in emissions by 2030 is needed to limit warming to 1.5 Celsius above pre-industrial temperatures. "At the UN Climate Change Conference in Glasgow last year, all countries agreed to revisit and strengthen their climate plans," said Simon Stiell, executive secretary of UN Climate Change in a statement. "The fact that only 24 new or updated climate plans were submitted since COP26 is disappointing." The latter, which sees most emissions come from deforestation and peatland clearance, now says it will cut emissions levels by at least 31.89% by 2030. Last year's UN assessment found countries were on track to up emissions by 13.7% by 2030.
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