UN Chief urges developed countries to deliver substantial $100bn aid for climate action

United Nations chief Antonio Guterres has urged developed nations to mobilise substantial $100 billion aid for climate action. The mentioned fund is expected to bridge the gap of $20 million that erupted from 2019-2020. He also appealed to the world leaders to partake in actions that ensure COP26 is a success.

"Developed Nations need to implement the promise to mobilize 100 billion dollars for climate action in the developing world from 2021 to 2025," Guterres said. "We failed in 2019 and 2020. The organisation for Economic Cooperation and Development Calculations (OECD) said that we are about 20 billion dollars short," the UN chief added. "Today, I asked leaders to do what is needed to make sure COP26 is a success and that it marks a true turning point," he concluded.

Talking about the consequences of failing to fulfil the pledge, Guterres asserted that it would mean a "major... erosion of trust between developed and developing countries." He also pointed out that it is the responsibility of the developed nations to "bridge the gap." UN Secretary-General made his appeals while speaking ag the Informal Leaders Round-Table on Climate Action, where he mentioned that the international community needs to deliver on three fronts, one being the "promised $100bn a year for climate action."

Need to reach 'carbon-neutrality by mid-century': Antonio Guterres

Speaking about the climate crisis, Guterres said that in order to limit the temperature rise to 1.5 degrees, the world would need to cut down emissions by 45% within 2030. This will also pave the path for "carbon-neutrality by mid-century." However, as per his statement, "the commitments made until now by countries imply -- an increase of 16% in greenhouse gas emissions-- not a decrease of 45% -- an increase of 16% in 2030 compared to 2010 levels," he noted. He also highlighted that to achieve the set target of 1.5 degrees by Intergovernmental Panel on Climate Change (IPCC), there needs to be "a dramatic improvement in Nationally Determined Contributions from most countries."

Adding suggestions on how to phase out dependence on non-renewable resources, UN Chief said that governments "must shift subsidies away from fossil fuels and progressively phase out coal use." Raising concerns about the Paris Agreement target of maintaining global temperature rise within 1.5 degrees Celsius, he added, "if all planned coal power plants become operational, we will not only be clearly above 1.5 degrees but it also well above 2 degrees. Paris targets would go up in smoke." UK Prime Minister Boris Johnson was also present in the small representative close-door meeting held on the sidelines of the General Assembly.

The meeting and subsequent announcements came after IPCC hinted at "code Red for humanity." Besides, the current meeting will be followed by the COP26 Climate Change Conference. The global conference is scheduled to be held in Glasgow from October 31 to November 12.

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