Marina Silva, Minister of the Environment, told CNN Brazil that a possible lack of agreement at COP29 to finance climate actions would lead the global climate governance system to collapse, with dramatic implications for life across the planet.
“The question [central] of COP29 is financing. So, we have to solve this equation here, otherwise we risk collapsing the system”, said the minister.
In an exclusive interview, Marina recalled that Donald Trump’s election as President of the United States is also a factor that needs to be considered by the countries involved in the COP negotiations.
“Obviously each one of us, China, the European Union, Brazil, South Africa, the countries that know what is happening in the world right now, especially in the context of [fortalecimento de] a denialist vision that threatens to leave the Paris Agreement, as is the case of the future United States government, it is essential that we leave here united around the objective” of combating climate change, highlighted Marina.
The issue of financing, however, has generated a major impasse at COP29, whose discussions will begin over the weekend – although its end had been scheduled for the early evening of this Friday (22) in Baku.
The developing world made it clear during COP29, through scientific and economic studies, that it needs at least US$1 trillion per year by 2030 in aid from the richest nations to be able to take all the necessary actions to fight climate change. .
But developed countries – those that emit the most greenhouse gases and are therefore most responsible for global warming – have resisted until now.
This Friday, the Presidency of COP29, which takes place in Baku, Azerbaijan, released a final negotiation text proposing a financing target of US$250 billion per year until 2035, with “developed countries taking the lead” in delivering of money.
Furthermore, the text “invites” countries “to work together to enable the expansion of financing for developing countries for climate action from all public and private sources to at least US$1.3 trillion per year by 2035”.
The text was considered very bad by analysts who follow the climate debate.
Marina Silva told CNN Brazil that the issue needs to be resolved in Baku and should not be postponed to another time, such as, for example, COP30, which will be held in Belém, Pará, next year.
“This has to be resolved here, because this COP has as an indicator of success solving the financing problem”, considered the minister.
“We have to align financing with the mission of not exceeding [o aquecimento médio do planeta em mais de] 1.5 °C and avoid the collapse that is already happening in Rio Grande do Sul, the Amazon, Africa, Asia, Europe, the United States, everywhere”, he stated.
Negotiations for this COP will continue into the early hours of Saturday (23) and there is no forecast for their end. Marina Silva even highlighted that she is prepared to spend the night searching for an agreement.
2024 is expected to be the hottest year on record, according to the WMO
This content was originally published in Marina Silva tells CNN that failure at COP29 would lead to climate governance collapsing on the CNN Brasil website.
Source: CNN Brasil
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