September 19, 2021: Prime Minister Boris Johnson boards RAF Voyager at Stansted Airport ahead of a visit to the United States.
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There is a six-in-ten chance that a deal on climate finance will be reached before the next COP26 climate change summit, UK Prime Minister Boris Johnson said.
In remarks to the media on a flight to New York this weekend, Johnson was asked about securing climate finance commitments and, according to the BBC, environmental targets over the next few days.
âDoing everything this week is going to be overkill,â he reportedly said. “But I think getting it all by the COP, six out of 10. It’s going to be tough, but people have to understand that it’s crucial for the world.”
Discussions around finance are expected to play a key role at COP26, which will be hosted by the UK in the Scottish city of Glasgow from October 31 to November 12.
According to the UN, developed countries have previously said they will “jointly mobilize $ 100 billion a year by 2020 to support climate action in developing countries.”
This goal turns out to be a challenge. Last week, the OECD said climate finance provided and mobilized by developed countries was $ 79.6 billion in 2019. This is an increase from the figure of $ 78.3 billion in 2018. , but remains below $ 100 billion.
âThe limited progress in global volumes of climate finance between 2018 and 2019 is disappointing, especially ahead of COP26,â said Mathias Cormann, OECD Secretary General, in a statement reacting to the numbers.
“Although properly verified data for 2020 will not be available until early next year, it is clear that climate finance will remain well below its target,” Cormann said. “More must be done.”
Johnson’s remarks were published by a number of media outlets and on Monday morning the BBC aired a snippet of the discussion. Johnson said that while the UK had made a “big, big commitment” and “drastically reduced our CO2,” it needed other countries to step up.
âWe’ve been broadcasting for centuries and these newly industrialized countries are saying ‘well, why should we pay such a high price?’ Thus, the 100 billion dollars a year that we must raise is intended to support these countries. [to] make the transition. ”
The UK’s official website for COP26 says it “will bring parties together to accelerate action towards the goals of the Paris Agreement and the United Nations Framework Convention on Climate Change.”
Described by the United Nations as a legally binding international treaty on climate change, the Paris Agreement aims to “limit global warming to well below 2, preferably 1.5 degrees Celsius, compared to pre-industrial levels.”
On Monday, Johnson and UN Secretary-General AntÃ³nio Guterres will hold what is described as an “informal leaders’ roundtable on climate action.”