Environmental activists have urged developed countries to be transparent about their climate ambition and stick to their pledges regarding the implementation of Paris Agreement for the sake of a safer world.
“Developing countries are rightfully concerned about pre-2020 climate action, and developed countries need to show good faith by giving the issue the space it needs to discuss how to ratchet up our efforts,” said Jennifer Morgan, executive director of Greenpeace International, at a session of the ongoing UN climate summit on Monday.
“Emissions need to peak by 2020 at the latest. This means pre-2020 climate action is critical if we’re to limit global warming to 1.5 degrees [Celsius]. We have a small window of opportunity; the sooner we act, the better.”
The summit, the 23rd Conference of the Parties (COP23), is in progress in Bonn Germany, hosted by the United Nations Framework Convention on Climate Change (UNFCCC).
Germany has targeted a 40% cut in greenhouse gas emissions by 2020, but will fall far short of its target unless it ends its reliance on coal, the climate experts said.
Furthermore, new figures released by the Global Carbon Project, the organisation that monitors global carbon emissions, reveal that the carbon dioxide emissions are expected to rise this year by about 2% after three years of zero growth due to the slower pace of emission cuts in the EU and the US, as well as the higher emissions in China.
Experts said raising ambition to act on climate change and raising the large amount of finance needed to do it are completely inter-connected, which is why governments and the entire financial sector must see it as a single challenge.
At Monday’s discussion on climate finance, high-level representatives from across the sector highlighted their efforts to meet the goals of the Paris Agreement, adopted at COP21 in 2015, and underlined that this challenge of coordination and coherence needed to be quickly addressed.
The Paris Agreement sets the average global temperature rise well below 2 degrees Celsius and as close as possible to 1.5 degrees Celsius.
“At the heart of the climate challenge are two gaps we urgently need to bridge: the ambition and the investment gap,” said Eric Usher, head of UNEP Finance Initiative.