POLICY
JAKARTA (FORESTHINTS.NEWS) - Indonesian Environment and Forestry Minister Professor Siti Nurbaya, in her role as Chair of the G20 Joint Environment and Climate Ministers' Meeting which took place in Bali (Aug 31), highlighted in her summary of the event two urgent climate actions that require leading roles from developed countries; limiting temperature increases to not exceed 1.5° Celsius and delivering on their promise for enhanced climate finance amounting to USD100 billion per year.
“G20 members recognize that the impacts of climate change at 1.5°C are much lower than those at 2°C,” the Chair pointed out.
“Climate resilient development may not even be possible in some regions if global warming exceeds 2°C, and thus the resolve to try to limit temperature increases to 1.5°C is urgent. In this regard, some members underlined the leading role of developed countries in undertaking a deep reduction of GHG emissions,” the Chair elaborated.
The second urgent climate action mentioned by the Chair is the need to align financial flows with sustainable development, nature and climate objectives, as well as to emphasize the many potential synergies in these areas.
"We will strengthen those synergies to maximize co-benefits," the Chair asserted.
“The protection, restoration, conservation, and sustainable use of nature,” she continued “are critical to achieve the UN 2030 Agenda for Sustainable Development and its Sustainable Development Goals in order to halt and reverse biodiversity loss.”
To that end, the Chair also underscored “the importance of support for developing countries through capacity building and the development, transfer, and deployment of technologies, as well as the mobilization of climate finance alongside the creation of coherent financial flows to facilitate low GHG emissions and climate resilient development.”
The Chair noted in her summary that, “while some members appreciate the progress made thus far and the increased the volume of mobilized climate finance, others have expressed profound regret that the commitment of developed countries to jointly mobilize USD100 billion per year by 2020, in the context of meaningful mitigation actions and transparency of implementation, was not met.”
Nonetheless, the Chair welcomed “the increased pledges made by many developed countries and the Climate Finance Delivery Plan: Meeting the USD100 Billion Goal, along with the collective actions contained therein and the emphasis on the importance of transparency in the implementation of their pledges.”
The Chair also referred to the Glasgow Climate Pact, in which parties urged developed countries to at least double their collective provision of climate finance to developing countries from 2019 levels by 2025, so as to achieve a better balance between mitigation and adaptation in the provision of scaled-up financial resources.
Specifying Article 9, Paragraph 4, of the Paris Agreement, the Chair said that, “some members have called on developed countries to continue to provide more information on these efforts through the progress report of the Delivery plan, while also hoping for the unlocking of multiple opportunities for targeted investments to protect against the adverse impacts of climate change.”
According to the Chair, “The majority of members are appealing for public and private financial institutions, multilateral development banks (MDBs) and international financial institutions (IFIs) to increase cooperation in developing countries for enhancing access to financial resources so as to deliver the scale needed to achieve effective climate actions.”
“In this regard,” the Chair went on “the majority of members reiterate their call for MDBs to follow up with their commitments, in line with their mandates, to mobilize increased climate finance, and step up their efforts to pursue alignment of their portfolios of activities and investments with the Paris Agreement within ambitious time frames.”
“Furthermore, financial flows need to remain consistent with a pathway towards low GHG emissions and climate-resilient development,” she cautioned.
“Many members recognize the key role of MDBs and IFIs in mobilising finance for addressing climate change, as well as the importance of mainstreaming mitigation and adaptation issues in their policies, investments and operations,” the Minister added.
“In light of this, many members further call on MDBs to set out plans by 2022 to mobilize private finance, in line with their mandates, and strategically de-risk investments in view of co-sharing risks with the private sector, including - where appropriate - through country-led processes and platforms,” she emphasized.
Continuing on the theme of climate action for enhanced climate finance, Minister Nurbaya said, “We want to stress the importance of the implementation of Article 6 of the Paris Agreement. This has the potential to enhance climate actions.”
“We also recognize the need for capacity building, particularly in developing countries, for the implementation of Article 6 and the enhanced transparency framework under Article 13 of the Paris Agreement,” the Chair acknowledged.
The Chair further underlined that such capacity building “will also increase the readiness for accessing climate finance resources so that the private and public sectors can support national and global climate objectives and international cooperation.”
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POLICY
JAKARTA (FORESTHINTS.NEWS) - Indonesian Environment and Forestry Minister Professor Siti Nurbaya, in her role as Chair of the G20 Joint Environment and Climate Ministers' Meeting which took place in Bali (Aug 31), highlighted in her summary of the event two urgent climate actions that require leading roles from developed countries; limiting temperature increases to not exceed 1.5° Celsius and delivering on their promise for enhanced climate finance amounting to USD100 billion per year.
“G20 members recognize that the impacts of climate change at 1.5°C are much lower than those at 2°C,” the Chair pointed out.
“Climate resilient development may not even be possible in some regions if global warming exceeds 2°C, and thus the resolve to try to limit temperature increases to 1.5°C is urgent. In this regard, some members underlined the leading role of developed countries in undertaking a deep reduction of GHG emissions,” the Chair elaborated.
The second urgent climate action mentioned by the Chair is the need to align financial flows with sustainable development, nature and climate objectives, as well as to emphasize the many potential synergies in these areas.
"We will strengthen those synergies to maximize co-benefits," the Chair asserted.
“The protection, restoration, conservation, and sustainable use of nature,” she continued “are critical to achieve the UN 2030 Agenda for Sustainable Development and its Sustainable Development Goals in order to halt and reverse biodiversity loss.”
To that end, the Chair also underscored “the importance of support for developing countries through capacity building and the development, transfer, and deployment of technologies, as well as the mobilization of climate finance alongside the creation of coherent financial flows to facilitate low GHG emissions and climate resilient development.”
The Chair noted in her summary that, “while some members appreciate the progress made thus far and the increased the volume of mobilized climate finance, others have expressed profound regret that the commitment of developed countries to jointly mobilize USD100 billion per year by 2020, in the context of meaningful mitigation actions and transparency of implementation, was not met.”
Nonetheless, the Chair welcomed “the increased pledges made by many developed countries and the Climate Finance Delivery Plan: Meeting the USD100 Billion Goal, along with the collective actions contained therein and the emphasis on the importance of transparency in the implementation of their pledges.”
The Chair also referred to the Glasgow Climate Pact, in which parties urged developed countries to at least double their collective provision of climate finance to developing countries from 2019 levels by 2025, so as to achieve a better balance between mitigation and adaptation in the provision of scaled-up financial resources.
Specifying Article 9, Paragraph 4, of the Paris Agreement, the Chair said that, “some members have called on developed countries to continue to provide more information on these efforts through the progress report of the Delivery plan, while also hoping for the unlocking of multiple opportunities for targeted investments to protect against the adverse impacts of climate change.”
According to the Chair, “The majority of members are appealing for public and private financial institutions, multilateral development banks (MDBs) and international financial institutions (IFIs) to increase cooperation in developing countries for enhancing access to financial resources so as to deliver the scale needed to achieve effective climate actions.”
“In this regard,” the Chair went on “the majority of members reiterate their call for MDBs to follow up with their commitments, in line with their mandates, to mobilize increased climate finance, and step up their efforts to pursue alignment of their portfolios of activities and investments with the Paris Agreement within ambitious time frames.”
“Furthermore, financial flows need to remain consistent with a pathway towards low GHG emissions and climate-resilient development,” she cautioned.
“Many members recognize the key role of MDBs and IFIs in mobilising finance for addressing climate change, as well as the importance of mainstreaming mitigation and adaptation issues in their policies, investments and operations,” the Minister added.
“In light of this, many members further call on MDBs to set out plans by 2022 to mobilize private finance, in line with their mandates, and strategically de-risk investments in view of co-sharing risks with the private sector, including - where appropriate - through country-led processes and platforms,” she emphasized.
Continuing on the theme of climate action for enhanced climate finance, Minister Nurbaya said, “We want to stress the importance of the implementation of Article 6 of the Paris Agreement. This has the potential to enhance climate actions.”
“We also recognize the need for capacity building, particularly in developing countries, for the implementation of Article 6 and the enhanced transparency framework under Article 13 of the Paris Agreement,” the Chair acknowledged.
The Chair further underlined that such capacity building “will also increase the readiness for accessing climate finance resources so that the private and public sectors can support national and global climate objectives and international cooperation.”
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