Technical assistance

UN chief urges nations to bridge ‘credibility gap’ at COP27

UN Secretary-General Antonio Guterres on Thursday urged rich and poor nations “to close the ambition gap, the credibility gap and the solidarity gap” when they meet next week in the COP27 UN Climate Summit in Egypt.

“It is time for a historic pact between developed and emerging economies,” he told reporters, stressing that richer countries should help poorer countries by financing climate adaptation measures.

He said he envisioned a pact in which wealthier countries would provide financial and technical assistance, “as well as support from multilateral development banks and technology companies, to help emerging economies accelerate their transition to energy. renewable”.

According to the United Nations Environment Program report, international funding currently flowing to developing countries is five to ten times less than needed and the gap is widening. Estimated annual adaptation needs are $160-340 billion by 2030 and $315-565 billion by 2050.

Under the 2015 Paris Agreement on Climate Change, developing countries have been promised $100 billion a year to fund initiatives to help them cope with the effects of global warming. To date, this objective has not been achieved.

The UN chief also called developed nations to keep their commitments made in Paris and to make an additional effort to reduce emissions in line with the objective of 1.5°C currently in “intensive care”.

Looking ahead to COP27, he expressed his hope that the conference will muster enough political will to ensure that “we gradually move from a life-saving perspective to a normal perspective.”

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Updated: 03 November 2022, 15:39