Current:Home > FinanceDeveloping nations suffering from climate change will demand financial help -Elevate Money Guide
Developing nations suffering from climate change will demand financial help
View
Date:2025-04-15 03:34:19
NAIROBI, Kenya — The chairperson of an influential negotiating bloc in the upcoming United Nations climate summit in Egypt has called for compensation for poorer countries suffering from climate change to be high up on the agenda.
Madeleine Diouf Sarr, who chairs the Least Developed Countries group, told The Associated Press that the November conference — known as COP27 — should "capture the voice and needs of the most climate-vulnerable nations and deliver climate justice."
Sarr said the group would like to see "an agreement to establish a dedicated financial facility" that pays nations that are already facing the effects of climate change at the summit.
The LDC group, comprised of 46 nations that make up just a small fraction of global emissions, negotiates as a bloc at the U.N. summit to champion the interests of developing countries. Issues such as who pays for poorer nations to transition to cleaner energy, making sure no communities get left behind in an energy transition and boosting how well vulnerable people can adapt to climate change have long been on the bloc's agenda.
Developing nations still face serious challenges accessing clean energy finance, with Africa attracting just 2% of the total clean energy investment in the last 20 years, according to the International Renewable Energy Agency. The U.N. weather agency recently estimated that global clean energy supplies must double by 2030 for the world to limit global warming within the set targets.
Sarr added that the bloc will push for funds to help developing countries adapt to droughts, floods and other climate-related events as well as urging developed nations to speed up their plans to reduce emissions. The group is particularly vulnerable to climate change because of their lack of ability to adapt to extremes, the U.N. weather agency said.
"We have delayed climate action for too long," Sarr said, pointing to the promised $100 billion a year in climate aid for poorer countries that was pledged over a decade ago.
"We can no longer afford to have a COP that is 'all talk.' The climate crisis has pushed our adaptation limits, resulted in inevitable loss and damage, and delayed our much-needed development," added Sarr.
The COP27 President also said this year's summit should be about implementing plans and pledges that countries have agreed to at previous conferences.
Sarr defended the U.N. conference as "one of the few spaces where our nations come together to hold countries accountable for historical responsibility" and pointed to the success of the 2015 conference in Paris in setting the goal of limiting warming to 1.5 degrees C (2.7 F).
veryGood! (9)
Related
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- A pivotal Nevada Senate race is unusually quiet for the battleground state
- Landmark Washington climate law faces possible repeal by voters
- Republican Mike Kehoe faces Democrat Crystal Quade for Missouri governor
- Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
- Democrats defend Michigan’s open Senate seat, a rare opportunity for Republicans
- Clemson coach Dabo Swinney challenged at poll when out to vote in election
- Savencia Cheese recalls Brie cheeses sold at Aldi, Market Basket after listeria concerns
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Democratic Rep. Angie Craig seeks a 4th term in Minnesota’s tightest congressional race
Ranking
- Stamford Road collision sends motorcyclist flying; driver arrested
- How tough is Saints' open coaching job? A closer look at New Orleans' imposing landscape
- Independent US Sen. Angus King faces 3 challengers in Maine
- Opinion: 76ers have themselves to blame for Joel Embiid brouhaha
- Grammy nominee Teddy Swims on love, growth and embracing change
- Taylor Swift watches Chiefs play Monday Night Football after end of US Eras Tour
- Prince William Reveals the Question His Kids Ask Him the Most During Trip to South Africa
- In Maryland, competitive US House race focuses on abortion, economy and immigration
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
Man arrested on suspicion of plotting to blow up Nashville energy facility
Erik Menendez’s Wife Tammi Menendez Shares Plea for His Release After Resentencing Decision
Sign of the times in front yard political wars: A campaign to make America laugh again
US appeals court rejects Nasdaq’s diversity rules for company boards
US Rep. Lauren Boebert will find out whether switching races worked in Colorado
MLB free agent rankings: Soto, Snell lead top 120 players for 2024-2025
Tropical Storm Rafael to become hurricane before landfall in Cuba. Is US at risk?