Developing world need $4T to cut emissions


With hurricanes, floods and other impacts of climate change becoming increasingly destructive, countries urgently need to step up their ambitions to cut emissions if they are to keep global warming within safe limits, experts said ahead of U.N. climate talks starting today.

About 163 countries have submitted plans on how they will contribute to meeting the Paris climate agreement goal to limit global warming to well below 2 degrees Celsius above pre-industrial levels. But put together, the plans are likely to lead to a 3 degree temperature rise this century, according to the United Nations. Nicholas Nuttall, spokesman for the U.N. Framework Convention on Climate Change, said the national plans delivered in advance of Paris, "were well known at the time to fall short of the Paris Agreement's long-term goals". But the agreement also calls for countries to take stock of international progress on climate action and ratchet up the ambition of their national plans accordingly. The first stock taking is set for next year, with the first more ambitious plans due in 2020.

As 195 nations meet starting today in Bonn for U.N. climate talks, they will be working to create rules to implement the Paris agreement, including on sometimes contentious issues such as how reductions of climate-changing gases should be reported and checked by other nations. But time is short, with global emissions of climate changing gases needing to peak by 2020 - just three years away - in order to keep warming to relatively safe levels, according to the World Resources Institute.

Many developing country plans to curb emissions and adapt to climate change depend on receiving enough finance to implement them. Wealthy countries have pledged to raise $100 billion a year in climate finance by 2020, to help developing countries cope with the impacts of climate change and reduce their greenhouse gas emissions. But more than $4 trillion is needed for developing countries to implement their plans, according to the Least Developed Countries (LDC) Group which represents the world's poorest 47 countries.

The group is pushing for the Bonn talks to come up with more promises of cash to fund the needed changes. Least-developed countries alone, in their climate action plans, have said they need at least $200 billion just to adapt to worsening climate impacts, including harsher droughts and worsening floods, Endalew said. Not finding it will be "a serious barrier to ambitious climate action", he said.