Index Investing News
Sunday, March 15, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

A Climate Summit Following Empty Promises & Funding Failures — Global Issues

by Index Investing News
November 4, 2022
in World
Reading Time: 6 mins read
A A
0
Home World
Share on FacebookShare on Twitter


  • by Thalif Deen (united nations)
  • Friday, November 04, 2022
  • Inter Press Service

UNITED NATIONS, Nov 04 (IPS) – The COP 27 climate summit is taking place amid a rash of political, economic and environmental upheavals, including missed funding and emission targets, increased pollution and climate devastation, rising global inflation, cuts in Western development assistance and the negative after-effects of the Covid-19 pandemic and the Russian invasion of Ukraine.

The summit—the 27th Conference of State Parties (COP27), scheduled for November 6 through 18– is billed as one of the largest annual gatherings on climate action, this time in the Egyptian coastal town of Sharm el-Sheikh.

The Brussels-based Centre for UN Constitutional Research (CUNCR) predicts COP27 “will likely face the same empty promises and no actions by most big countries responsible for climate change.”

In a message during the launch of the UN Environment Programme’s (UNEP) Adaptation Gap report released on the eve of COP27, Secretary-General Antonio Guterres warns “the world is failing to protect people from the here-and-now impacts of the climate crisis”.

“Those on the front lines of the climate crisis are at the back of the line for support. The world is falling far short, both in stopping the growth of greenhouse gas emissions and starting desperately needed efforts, to plan, finance and implement adaptation in light of growing risks”.

He also pointed out that adaptation needs in the developing world are set to skyrocket to as much as $340 billion a year by 2030.

“Yet adaptation support today stands at less than one-tenth of that amount. The most vulnerable people and communities are paying the price. This is unacceptable,” Guterres said.

Gadir Lavadenz, Global Coordinator, Global Campaign to Demand Climate Justice (DCJ), told IPS COP 27 cannot be another example of how power is usurped.

“It is outrageous to still see big corporations manipulating and dominating this process. Big polluters have a role to play, stop polluting and not use the climate COPs to greenwash their actions. COP 27 must deliver a strong message to the world that the multilateral system can still play a role in the climate crisis”.

Lavadenz also pointed out that the annual $100 billion target was not only evaded systematically by developed nations, but it has demonstrated to be insufficient to deal with the magnitude of our climate crisis and there is growing evidence of this.

“COP 27, unlike its predecessor, should move away from false solutions like geo-engineering, carbon offsets, nature-based solutions and others and instead focus on the matters that have the potential to impact the most vulnerable countries and groups”.

Finance is not about cold numbers, but about the lives at risk in this very moment and that have no means to deal with a problem caused by the consumerist culture of a small privileged portion of this world.

“COP 27 cannot be remembered as just another meeting, but as a moment to show progress and hope through real solutions”, declared Lavadenz, who is the Coordinator of a global network of over 200 grassroot, regional, and global networks and organizations advocating climate justice.

Flagging a new report from the UN Framework Convention on Climate Change (UNFCCC), UN Spokesperson Stephane Dujarric told reporters October 26 that countries are bending the curve of global greenhouse gas emissions downward, but the report underscores that these efforts remain insufficient to limit global temperature rise to 1.5 degrees Celsius by the end of the century.

The report shows that current commitments will increase emissions by 10.6 per cent by 2030, compared to 2010 levels.

This is considered an improvement over last year’s assessment, which found that countries were on a path to increase emissions by 13.7 per cent by 2030, compared to 2010 levels, “but it is still not good news”.

Just 26 of 193 countries that agreed last year to intensify their climate actions have followed through, pointing Earth toward a future marked by climate catastrophes, according to the U.N. report

Meena Raman, a Senior Researcher at the Third World Network, a member organization of Global Campaign to Demand Climate Justice (DCJ), told IPS the $100 billion target is supposed to be $100 billion per year.

“This target is not expected to be realised and is complicated by how climate finance is counted.”

She pointed out that the definition of what climate finance is in itself an issue being addressed at the COP.

“Given that many developing countries are in debt distress, the provision of more loans which need to be paid back presents a very major problem for those countries who need the finance”.

What is needed, she argued, is more grants for especially tackling adaptation needs and funds to address loss and damage.

Meeting the climate finance needs of developing countries through non-debt creating instruments is critical, including through the reform and re-channeling of Special Drawing Rights as outright grants for climate finance.

COP 27 must not be a lost cause. It is the time for implementing in real terms the commitments made by developed countries, Raman declared.

US Secretary of State Antony Blinken told reporters last week: “When we were together at COP26, (in Scotland in October-November 2021), we brought forward a declaration, a statement, for the elimination or the reduction of methane gas by 30 percent by 2030.”

“We are now looking at most countries committing to this. If everyone did this, this would be the equivalent of removing all vehicles and all the ships and all the planes that are currently out in the world in terms of emissions. So, we can have a real impact. We can do what is needed to maintain the 1.5 degree Celsius rise of temperature”, he declared.

IPS UN Bureau Report

Follow @IPSNewsUNBureau
Follow IPS News UN Bureau on Instagram

© Inter Press Service (2022) — All Rights ReservedOriginal source: Inter Press Service

Where next?

Related news

Browse related news topics:

Latest news

Read the latest news stories:

  • COP27: A Climate Summit Following Empty Promises & Funding Failures Friday, November 04, 2022
  • Why Greta Thunberg Is Wrong to Boycott COP27 Thursday, November 03, 2022
  • Solar Power Brings Water to Families in Former War Zones in El Salvador Thursday, November 03, 2022
  • Campaign for a Fossil Fuels Non-proliferation Treaty Gathers Steam Thursday, November 03, 2022
  • Anti-Microbial Resistance Strategies Need Urgent Attention to Prevent Unnecessary Deaths in Africa Thursday, November 03, 2022
  • Solidarity and Negotiations to End the Ukraine War Thursday, November 03, 2022
  • Resurgence of ethnic clashes in Sudan’s Blue Nile region triggers death and destruction Thursday, November 03, 2022
  • Haiti ‘on the verge of an abyss’, warns UN rights chief Thursday, November 03, 2022
  • New UN course helps cut through the noise to bolster online safety Thursday, November 03, 2022
  • UN chief urges Security Council, speak ‘with one voice’ to secure peace Thursday, November 03, 2022

In-depth

Learn more about the related issues:

Share this

Bookmark or share this with others using some popular social bookmarking web sites:

Link to this page from your site/blog

<p><a href="https://www.globalissues.org/news/2022/11/04/32326">COP27: A Climate Summit Following Empty Promises & Funding Failures</a>, <cite>Inter Press Service</cite>, Friday, November 04, 2022 (posted by Global Issues)</p>

… to produce this:

COP27: A Climate Summit Following Empty Promises & Funding Failures, Inter Press Service, Friday, November 04, 2022 (posted by Global Issues)





Source link

Tags: ClimateEmptyFailuresFundingglobalIssuesPromisesSummit
ShareTweetShareShare
Previous Post

US jobs top forecasts, wages pick up in labor market despite Fed aggression

Next Post

China to make ‘substantial’ Covid policy changes soon: Ex-govt expert

Related Posts

Three Potential Succession Scenarios for Russia’s Modern Tsar – The Cipher Brief

Three Potential Succession Scenarios for Russia’s Modern Tsar – The Cipher Brief

by Index Investing News
March 12, 2026
0

The short answer is that a popular uprising in Russia is still highly unlikely. The FSB and other Russian security...

Lebanon ‘dragged back into turmoil’, UN envoy warns — Global Issues

Lebanon ‘dragged back into turmoil’, UN envoy warns — Global Issues

by Index Investing News
March 8, 2026
0

Just a week ago, Lebanon had been “in relatively good shape”, Jeanine Hennis‑Plasschaert, the UN Special Coordinator for Lebanon, said...

U.S. Navy submarine destroys Iranian warship

U.S. Navy submarine destroys Iranian warship

by Index Investing News
March 4, 2026
0

Key PointsThe United States Navy sank the Iranian frigate IRIS Dana with a submarine-launched torpedo in the Indian Ocean near...

Inside Israel’s ‘normal’: Triumphalism and calm mix after attack on Iran | Israel-Iran conflict News

Inside Israel’s ‘normal’: Triumphalism and calm mix after attack on Iran | Israel-Iran conflict News

by Index Investing News
February 28, 2026
0

Listen to this article | 4 minsinfoCommentators within Israel have described a sense of business as usual in the wake of the...

Potential ‘holy grail’ nasal spray that may protect against COVID-19, flu and pneumonia aims for human trials

Potential ‘holy grail’ nasal spray that may protect against COVID-19, flu and pneumonia aims for human trials

by Index Investing News
February 24, 2026
0

The tool may be the next step in the once-mythical idea of a universal vaccine, researchers said. STANFORD, Calif. —...

Next Post
China to make ‘substantial’ Covid policy changes soon: Ex-govt expert

China to make 'substantial' Covid policy changes soon: Ex-govt expert

Cardano (ADA) Investors Watch For Nov. 18, Hoskinson Teases

Cardano (ADA) Investors Watch For Nov. 18, Hoskinson Teases

RECOMMENDED

BA stewardess flown home in disgrace after boozy fight at £2,000-a-night hotel in the Maldives

BA stewardess flown home in disgrace after boozy fight at £2,000-a-night hotel in the Maldives

April 7, 2024
We should redesign our public security indicators to avoid wasting lives

We should redesign our public security indicators to avoid wasting lives

November 13, 2024
Xiaomi Surges Most in Year After Setting Up Showdown With Tesla

Xiaomi Surges Most in Year After Setting Up Showdown With Tesla

March 12, 2024
Welfare can discourage crime greater than it discourages work

Welfare can discourage crime greater than it discourages work

July 5, 2022
Investment houses join calls for dialogue on judicial system

Investment houses join calls for dialogue on judicial system

February 20, 2023
In Donald Trump’s Personal Phrases – a Partial Transcript of His Bitcoin 2024 Speech

In Donald Trump’s Personal Phrases – a Partial Transcript of His Bitcoin 2024 Speech

July 29, 2024
Adriatic Metals Inventory Lays The Basis For A Lengthy-Time period Winner (OTCMKTS:ADMLF)

Adriatic Metals Inventory Lays The Basis For A Lengthy-Time period Winner (OTCMKTS:ADMLF)

November 21, 2024
Succession’s Jeremy Sturdy Eyes Showing On London Stage – Deadline

Succession’s Jeremy Sturdy Eyes Showing On London Stage – Deadline

May 22, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In