The minister, who was addressing the national stakeholder consultations on Thursday before the UN climate meeting, said that, as with all Conference of the Parties, finance would remain a key issue at“There will be a renewed call for a scaled-up and predictable goal for climate finance at COP28,” Creecy said. “The deadline for agreeing upon this goal is 2024 and the success of this COP, and perhaps future climate talks, will depend on the outcome.
This particular COP comes at a time when the world as a whole is starting to “grapple with the impact of climate change on daily life”, the minister said. Creecy said the discussions on the outcome of the GST had started and focused on key political messages, and more importantly, on multilateral and national measures that need to be put in place to “accelerate our journey towards a more sustainable and equitable world”.
“We do not have a target, believe it or not, for adaptation or adapting to these impacts of climate change. We do not have agreed indicators, so that will be the big work for us during the COP.” “We want to see a push to accelerate the reduction of these greenhouse gas emissions, particularly from the developed countries. The Paris Agreement indicates that they should clearly take the lead on this.”Developed countries need to fulfil their previous climate finance commitment of $100 billion a year as this is a “trust building exercise”, Kekana said. If they fail to deliver on this goal there will always be a trust deficit, he said.
“Our view is that the new goal has to be based on the needs of developing countries because the $100 billion goal just dropped from the sky and is completely inadequate to meet our needs,” he said.