![]() ![]() We need new eligibility systems to deal with this new reality. I'm also pressing to remove the obstacles that prevent small island states and least developed countries from getting the finance they desperately need to save lives and livelihoods. The Glasgow commitment on adaptation funding is clearly not enough to meet the challenges faced by nations on the frontlines of the climate crisis. ![]() That's why I have been pushing to get to 50% of all climate finance for adaptation. The second core finding from this report is slightly better news: investments in adaptation work.Īs climate impacts worsen – and they will – scaling up investments will be essential for survival.Īdaptation and mitigation must be pursued with equal force and urgency. These targeted mechanisms of support would be over and above existing sustainable development needs. I am calling for developed countries, Multilateral Development Banks, private financiers and others to form coalitions to help major emerging economies end the use of coal. Instead of slowing down the decarbonization of the global economy, now is the time to accelerate the energy transition to a renewable energy future.įossil fuels are a dead end – for our planet, for humanity, and yes, for economies.Ī prompt, well-managed transition to renewables is the only pathway to energy security, universal access and the green jobs our world needs. OECD countries must phase out coal by 2030, and all others by 2040.Īs current events make all too clear, our continued reliance on fossil fuels makes the global economy and energy security vulnerable to geopolitical shocks and crises. You cannot claim to be green while your plans and projects undermine the 2050 net-zero target and ignore the major emissions cuts that must occur this decade. Oil and gas giants - and their underwriters – are also on notice. Those in the private sector still financing coal must be held to account. They must now urgently do the same at home and dismantle their coal fleets. Today's report underscores two core truths.įirst, coal and other fossil fuels are choking humanity.Īll G20 governments have agreed to stop funding coal abroad. It will destroy any chance of keeping 1.5 alive. Science tells us that will require the world to cut emissions by 45 percent by 2030 and achieve net zero emissions by 2050.īut according to current commitments, global emissions are set to increase almost 14 per cent over the current decade. ![]() It is essential to meet the goal of limiting global temperature rise to 1.5 degrees. The world's biggest polluters are guilty of arson of our only home. This abdication of leadership is criminal. Unchecked carbon pollution is forcing the world's most vulnerable on a frog march to destruction – now. Many ecosystems are at the point of no return – now. Nearly half of humanity is living in the danger zone – now. With fact upon fact, this report reveals how people and the planet are getting clobbered by climate change. Today's IPCC report is an atlas of human suffering and a damning indictment of failed climate leadership. I have seen many scientific reports in my time, but nothing like this. ![]()
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