COP 29: “Climate finance for developing countries is essential”

by Andrea
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COP 29: "Climate finance for developing countries is essential"

Analysis

Francisco Ferreira, president of the environmentalist association Zero, warns of the importance of strong climate financing and the consequences of the US withdrawal from the Paris Agreement.

A which is ongoing until November 22, is considered crucial to achieving emissions reduction commitments by 2030 and to increasing climate finance. Francisco Ferreira, president of the environmentalist Association Zero, argues that one of the essential results of the current climate summit is the definition of robust financing for developing countries to combat climate change.

“The really important thing about this conference is that there is strong climate financing for developing countries. This is absolutely fundamental, not only to involve them, but above all, because it is vital in the energy transition of these countries to reduce,current and future emissions and also for climate adaptation. And we see, looking at Valencia, looking at Colombia, looking at many other places around the world, that climate change is having a dramatic impact onpeople’s lives, in their survival, obviously also in economies and, therefore, this is a vital aspect”.

The president of Zero reinforces the urgency of defining tighter emissions targets.

“We are on a trajectory of temperature rise of 3.1°C in relation to the pre-industrial era and we still want to try to ensure that the temperature does not go beyond 1.5°C”, recalls Francisco Ferreira.

extreme weather phenomena such as floods, storms and forest fires have intensified.

Public and government awareness

Francisco Ferreira highlights a which reveals the sensitivity of the Portuguese towards the need to combat climate change.

“Almost 100% of Portuguese people are aware of this situation”, notes the environmentalist, referring to a projection that places the Iberian Peninsula among the most affected areas in Europe with regard to the consequences of climate change.

As it relates to decision makers, in world leaders’ climate action plans “this awareness exists in most cases, but investments that are not as high a priority in the medium/long term as climate change are being put forward.”

The environmentalist believes that this limited vision calls into question an effective long-term approach.

The absence of strong leaders and the US withdrawal from the Paris Agreement

The absence of leaders such as the presidents of the USA and China is, according to Francisco Ferreira, relevant but not decisive. In any case, the environmentalist considers that with regard to the USA, the situation could be dramatic, as President-elect Donald Trump intends to leave the Paris Agreement.

“Indeed, the departure of the United States is dramatic, not only because it stops actively participating in financing, but also from the point of view of all the protagonism it has and it should have, because historically it is the main that cause global warming. “

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