developing nations
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Developing nations urged to enhance transparency in climate finances
Mukhtar Babayev calls for improved financial accountability in climate actions as developing nations seek significant funding.
In short:
- At the upcoming COP29, a new global goal for climate finance will be established, with transparency as a key focus.
- Babayev emphasizes the creation of a "transparency mechanism" to foster trust and effective climate action among nations.
- Current challenges include the discrepancy in reported emissions and actual emissions, and the misuse of funds designated for climate initiatives.
Key quote:
“It’s very important to build this correct, good and honest trust between the parties.”
— Mukhtar Babayev, ecology minister of Azerbaijan
Why this matters:
At previous COP meetings, discussions around climate finance often centered on the commitments of developed nations to support developing countries in their climate mitigation and adaptation efforts. However, transparency has frequently been a stumbling block, with concerns about the adequacy and reliability of reported financial flows. The focus on transparency at COP29 aims to build trust among countries and ensure that funds are used effectively and reach their intended targets.
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Europe calls for accelerated end to fossil fuel dependence
The European Union Parliament has passed a resolution advocating for the rapid phase-out of fossil fuels.
In short:
- The resolution bolsters the long-standing efforts of small island nations and developing countries, who have been vocal about the immediate need to address fossil fuel reliance in climate negotiations.
- The resolution sets a precedent for other nations and international bodies to accelerate their transition to sustainable energy sources.
Key quote:
“There can be no doubt that the parties coming to COP28 need to do everything possible to limit the global warming increase and keep the 1.5 target alive.”
— Fatumanava-o-Upolu III Dr Pa’olelei Luteru, chair of the Alliance of Small Island States
Why this matters:
The EU resolution presses climate negotiators to remain focused on a fossil fuel phaseout during the COP28 summit in Dubai, which starts Thursday. The US has not joined the resolution, and has faced criticism recently for expanding fossil fuel production and natural gas exports, notes Berwyn. Should the US commit to a rapid phaseout of fossil fuels?
For a different perspective on international climate talks, read Ruth Greenspan Bell's op-ed for EHN: It’s time to re-think the United Nations’ COP climate negotiations.
AI-based tools helped produce this text, with human oversight and editing.
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