Global climate agreement unlikely without finance for climate-vulnerable poor nations, Mushahidullah

ISLAMABAD: Federal Minister for Climate Change Senator Mushahidullah Khan has welcomed imposing remark of the French president regarding the much-awaited global climate agreement, in which the latter has told rich countries, that a roadmap for ramping up climate finance for developing countries to $100 billion a year by 2020 is inevitable to agreeing the new global climate deal in Paris later this year.

The minister has also backed argument of the French president Francois Hollande that without any financial commitment by rich polluting countries including USA, UK, Germany, Canada, Poland, chances are dim for the global climate pact most likely to be reached in Paris in December this year among over 196 rich and poor countries, said a news statement released here on Thursday.

The French president expressed these views at the two-day 6th international Petersberg Climate Dialogue `Reaching for the Paris outcome', which concluded on May 19 in Berlin, Germany.

At UN talks in Copenhagen in 2009, rich countries promised to mobilise $100 billion per year by 2020 in climate finance from public and private sources to help poorer nations cope with worsening extreme weather and rising seas, and to develop their economies cleanly by using renewable energy.

As a part of the $100 billion climate fund moblisation pledge, the rich countries at UN-led donor conference last year on November 20 in Berlin, Germany, promised a total $10.2 billion to Green Climate Fund (GCF) against informal target of $10 billion in initial capitalisation set by GCF to help developing countries tackle climate change.

"But, it is a matter of grave concern for the developing countries including Pakistan that the rich countries have contributed so far around 42 percent of the $10.2 billion," the federal minister deplored.

Senator Mushahidullah Khan also joined the French president in the stance that developing countries, which are seriously in grip of negative impacts climate change due to rising trajectory of global carbon emissions by rich countries, won't accept an agreement if they do not get any financial support for adaptation and (energy) transition.

The Climate Change Minister underlined that finance is "key", and must be part of a package of support for developing countries to allow them to opt for low-carbon growth.

He said, "It is imperative for the UN's Green Climate Fund - which has pledges of $10.2 billion so far - to select the first projects it will back before the Paris climate talks in December this year, in order to develop trust between developed and developing nations.

This is really necessary because many developing like Pakistan, Nepal, Philippines, Vietnam, Bhutan and Afghanistan need money and want to hear about release of these major sums from GCF.