enter a critical 24 hours as efforts are needed to pull back from the brink of collapse by agreeing an acceptable global goal of scaled-up finance for developing countries.
Instead of setting a global goal for at least $1 trillion in new funds for developing countries to tackle the climate crisis, the text contained only an “X” where numbers should have been. UK secretary for energy security and net zero, Ed Miliband, who has been helping the host country in trying to put better shape on the text, highlighted the risk of a backward step on mitigation – actions to cut emissions – based on the draft text released on Thursday morning.
Ambition meant stopping the status quo, including vested interests wishing to retain the current fossil fuel system, he said – a position endorsed by a high ambition coalition of countries from North and South America, the EU, Asia, Africa and “small islands and big”. Asked if he was angry with the stance of Arab countries, he said he didn’t wish to point fingers but Arab countries were threatened by climate change too, notably extreme heat. It was in their interests to move to a clean energy system that would bring climate justice where “you will never fight over renewable power”.
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