India calls out lack of ‘predictable financing’ on climate change to developing countries
We only see innovative accounting not predictable financing, India's Permanent Representative to the UN said
India on Sunday called out the lack of ‘predictable financing’ to developing countries on climate change.
India’s Permanent Representative to UN Ambassador TS Tirumurti shared UN Secretary General António Guterres tweet, pointing out that the developed countries had pledged to provide US$100 billion per year by 2020. But it was 2022 and still they were nowhere close to providing critical climate finance to developing countries, he added.
“The pledge by developed countries was for providing US $ 100 billion per year by 2020 itself. It’s 2022 and still they are nowhere close to providing critical #climate finance to developing countries. We only see innovative accounting not predictable financing,” Tirumurti said in the tweet.
The UN Secretary General’s tweet said that wealthier countries must finally make good on the $100 billion climate finance commitment to developing countries and added that this promise cannot wait until 2023, it must happen this year.
“Wealthier countries must finally make good on the $100 billion climate finance commitment to developing countries. This promise cannot wait until 2023, it must happen this year. We're in an emergency. None of us have years to wait,” he had said in the post.
Earlier last week, Guterres had voiced concerns on five alarms for the globe in 2022 during the time when ‘the only certainty is more uncertainty’ and had urged nations across the world to establish a new, more optimistic and more equal path.
Pointing to the growing COVID-19 outbreak, a morally bankrupt global financial framework, the climate crisis, internet lawlessness, and degraded peace and security, Guterres told the General Assembly, “We face a five-alarm global fire that requires the full mobilization of all countries.”
While elaborating on the climate crisis alarm, the UN chief said governments have no option but to respond to the climate catastrophe in ‘emergency mode.’
The globe is far from meeting the Paris Agreement's goal of reducing global increase to 1.5 ° C over pre-industrial levels, he cautioned.
And to attain carbon neutrality by mid-century, global emissions must be lowered by 45% by the end of the decade, which will need ‘an avalanche of action’ in 2022, Guterres further said.
The UN Secretary-General called for the formation of alliances to give financial and technical help to countries, including some of the world's largest polluters that require aid in shifting from coal to renewable energy.