As discussions at the 60th meeting of Subsidiary Bodies (SB60) in Bonn, Germany, have entered their second week, African countries continue to push developed countries to provide substantial funds for use in mitigating climate crisis-related challenges.
The African Group has since proposed a minimum of $1.3 trillion per year by 2030 to meet the climate finance needs of developing countries.
Speaking with The Daily Times on the sidelines of the meeting, African Group of Negotiators Chairperson Ali Mohamed, who is also working in Kenyan President William Luto’s office, said the African Group’s desire is to leave SB60 with a progressive draft text ensuring substantial, non-debt-inducing climate finance flows to developing countries.
“We are hoping that a draft text emerging from SB60 will lead to positive outcomes in future climate negotiations because funding is crucial for fostering non-carbon-intensive and climate-resilient development as climate change impacts are increasingly severe in least-developed countries,” Ali said.
- Advertisement -
On his part, the chief environmental officer in Malawi’s Ministry of Environment and Climate Change—who is also the current chairperson for 45 least developed countries— Evans Njewa said the meeting has centred on addressing the challenge of climate finance, particularly the New Collective Quantified Goal (NCQG).
- Advertisement -
“This goal, which needs to be set before 2025, aims to mobilise sufficient, equitable and sustainable climate finance to meet the needs of developing countries following the unmet 2009 CoP[Conference of the Parties] 15 commitment of $100 billion annually by 2020,” Njewa said.
He further said key points of contention during the meeting included means by which developed countries will fulfill their commitments, with a strong emphasis on avoiding loans that increase the debt burden on developing countries.
He has since called for clear and concrete proposals for climate finance, stressing the importance of non-debt-inducing support.
The ongoing technical discussions in Bonn aim to set up a clear and ambitious financing mechanism that ensures accountability from developed countries and prioritisation of real needs of the developing world.
- Advertisement -
The NCQG is expected to mobilise funds for adaptation, mitigation, loss and damage, with an emphasis on grants over loans, to prevent exacerbating debt issues in developing countries.
As the negotiations continue, eyes of the world are on Bonn, with hopes that the international community will rise to the occasion and deliver a robust and ambitious NCQG that addresses the needs of all nations and paves the way for a sustainable and resilient future.
