TheCable

Sharon Ikeazor, minister of state for environment, says developed countries need to fulfill their $100 billion pledge to support developing countries build resilience against climate change.

Ikeazor spoke on Wednesday at a briefing on the preparation for COP26 which will be held in Glasgow between October 31 and November 12.

She said although developed countries are close to achieving the $100bn target, they need to show more commitment to deliver on the promise.  

“We require the developed countries to honour the word made back in 2009 of mobilising $100 billion per year by 2020 to support climate action in developing countries,” she said.

“Recent announcements, including President Joe Biden’s pledge to double US climate finance, have brought developed countries closer to honouring the pledge.

“However, we need more done to restore credibility and strengthen trust between developing and developed nations.” 

The minister said the important issues that need to be discussed at COP26 include mobilising finance, scaling up adaptation, and how to deal with the impact of climate change.

“Also, another important element for discussion at COP26, is the question of how to deal with economic and non-economic harms caused by climate change impacts,” the minister said.

“The impact of climate action which cannot be avoided through adaptation or mitigation, known as ‘loss and damage’.

“As we look towards the firming up of increased finance for adaptation, we also look forward for progress in the operationalisation of the Paris agreement’s global goal on adaptation.”