UN Climate Change News, Bonn, Nov 17 – As the UN Climate Change Conference ended up last week, governments worked hard to complete the final negotiation decisions, it’s good to be reminded of the new wave of climate action that has been announced during COP23 from countries, cities, states, regions, business and civil society.
The common message from all sides at this conference has been that action to get on track towards the objectives of the Paris Climate Change Agreement and to ultimately achieve the 2030 Agenda Sustainable Development Goals is urgent, time is really running out and everyone simply must do much better together to drive climate action further and faster ahead now.
Financing Climate Action
Major announcements included funds to support the poorest and most vulnerable, whose plight has been brought into sharp perspective by this year’s extreme weather.
InsuResilience Initiative additional 125 MUSD from Germany to support provision of insurance to 400 more million poor and vulnerable people by 2020. A G20 and V20 (vulnerable nations) partnership.
Adaptation Fund exceeds 2017 Target – thanks to Germany’s contribution of 50 million euros and Italy’s contribution standed at a total equivalent of USD 93.3 million dollars
Norway & Unilever 400 MUSD fund for public and private investment in more resilient socioeconomic development. Investing in business models that combine investments in high productivity agriculture, smallholder inclusion and forest protection
Germany and Britain to provide combined USD 153 MUSD to expand programs to fight climate change and deforestation in Amazon rainforest
European Investment Bank will provide 75 MUSD for a new 405 MUSD investment programme by the Water Authority of Fiji. The scheme will strengthen resilience of water distribution and wastewater treatment following Cyclone Winston, the world’s second strongest storm ever recorded, which hit Fiji in February 2016
Green Climate Fund and the European Bank for Reconstruction and Development signed up to free USD 37.6 million of GCF grant financing in the 243.1 MUSD Saïss Water Conservation Project to make Moroccan agriculture more resilient
World Resources Institute announced a landmark USD2.1 billion of private investment earmarked to restore degraded lands in Latin America and the Caribbean through Initiative 20×20
Ecuador to reduce 15 million tonnes of CO2 emissions in the forest sector
Gabon’s National Park Service to halt illegal logging to stop emission of 20 million tonnes of CO2
The next edition – COP 24, will take place in December 2018 in Katowice, Poland. It is in this city of Silesia, which still lives at the rate of coal activity, that the provisions of the “Rule Book”, the implementation guide for the COP 23 Paris agreement concluded in December 2015 in the scope to limit global warming below the 2 ° C threshold. The international community will have to finalize the rules for transparency of data exchanged by countries, accounting for greenhouse gas emissions and finally, monitoring climate finance. Let us hope this next step will be another occasion for other progress and improvements.