COP30 in Brazil is going to focus on the climate finance needs of developing countries, according to Reuters
In Lysandra’s garden
As world leaders struggle to pull the US out of the Paris Agreement, Brazil, host of this year’s COP30 global climate summit, sees an opportunity to highlight the voices of developing countries amid a bitter dispute over who will pay for the global transition. to clean energy sources.
At last year’s summit in Azerbaijan, a bitter battle between rich countries and low-income countries ended with rich countries pledging $300 billion a year to support developing countries by 2035. $100 billion is a fraction of the $1.3 trillion that developing countries need annually. The fight may continue this year.
“It was already difficult to get about $300 billion in negotiations with the United States,” newly appointed COP30 President Andre Correa do Lago said in an interview with international media.
Under President Joe Biden, the US has implemented new policies to combat climate change, strengthened efforts to strengthen the role of multilateral development banks such as the World Bank, and worked to increase financing for projects to curb global warming. Without all that action, Correa do Lago added, “it will now be difficult” to increase climate finance.
Despite those challenges, developing countries are “very united” in rejecting calls from rich countries to broaden the base of countries that finance efforts to prevent climate change and adapt to its impacts around the world, Correia do Lago added.
In recent years, European leaders have been calling for mandatory contributions from emerging economies that are big polluters and increasingly wealthy poor countries such as China and the Gulf states to help tackle climate change. China, the world’s second most populous country, is by far the world’s largest emitter of greenhouse gases.
“The developed countries do not want to increase the financial resources, but they want to lower their contribution to the donation of financial resources and this is natural and very wrong,” said Correa do Lago.
The US withdrawal has raised questions about which countries will help guide the outcome of this year’s World Climate Summit. The United States, among the world’s largest economies and emitters, such as the European Union and China, was central to negotiating the outcome of the COP meeting.
“Everyone expects China and the EU to work together to fill this gap,” state-run newspaper The Beijing News reported. “It’s a beautiful wish, but it’s hard to do.”
Correa Do Lago of the BRICS group – which brings together Brazil, China and other emerging economies – has called for more contributions from rich countries to help Brazil build a common understanding among developing countries. Largest emitters of greenhouse gases. Brazil will hold the presidency of BRICS this year.
Correa do Lago said: “We want to find more consensus and stimulate some discussions in the BRICS.
At last year’s Group of 20 summit in Brazil, Brazil and other developing countries blocked an attempt to include a call for developing economies to help with climate finance. Correa Do Lago was then one of the leading negotiators.
Correa Do Lago strongly defended what developing economies are doing on their own budgets to combat climate change, highlighting Brazil’s efforts to curb deforestation and greenhouse gas emissions and China’s trillions in clean energy technology.
“China is giving a lot of resources to the developing world by drastically reducing the cost of solar panels and reducing the cost of electric vehicles,” he said. These investments are more meaningful to poor countries than China’s symbolic contribution, he said. Sizes.”