https://arab.news/pjw2q
Belem, a port city in northern Brazil, will fall under the global spotlight this month when it hosts COP30, one of the largest annual UN conferences on climate change.
The Belem meeting comes a decade after the Paris Agreement, which set the goal of limiting global temperature increases to 1.5 C above pre-industrial levels. Scientists, economists, and ecologists have made clear that breaching that limit would have disastrous consequences for people and planet. Unfortunately, global temperatures have only risen, not decreased, since Paris.
The Conferences of Parties to the UN Climate Convention, or COPs, have taken important decisions in recent years to reach the 1.5 C target. But the principal obstacle in the way of implementation of the Paris Agreement is the inadequacy of climate finance.
Most least developed countries, which are also most vulnerable to climate change, have long complained about financing at these negotiations. The landmark decision at COP27 to establish a loss and damage fund to assist developing countries raised hopes. Two years later, COP29 in Azerbaijan agreed on a new global goal for climate finance, deciding to mobilize at least $1.3 trillion per year by 2035 from both public and private sources. Developed countries pledged to mobilize $300 billion in the same timeframe to assist developing countries.
