G7 #climate outcomes not going down well with analysts + developing countries. "Peanuts" was how one minister from a major SE Asian country just described today's finance pledges to me. Pressure on @G7 to reconvene at UNGA in Sept to offer a detailed $100bn plan.
Reaction trickling in... this from respected Bangladeshi #climate expert @SaleemulHuq: 'The G7 leaders failed to rise to the challenge by simply repeating a pledge to deliver 100 Billion which they have made before and failed to deliver.
Similar sentiments from @TasneemEssop, head of 1000+ NGO coalition @CANIntl: 'the $100bn promised a decade ago is the minimum of what is needed to build trust before COP26 and meet past obligations. Rich countries must go beyond reiterating existing obligations'
Lack of @G7 hike on $100bn a 'huge disappointment for impacted and vulnerable countries like Pakistan' says Islamabad's #climate minister @aminattock... citing rising adaptation costs at home
The head of #Nepal's #climate ministry equally unimpressed... it's the ' moral and legal responsibility' of major donors to deliver on UN commitments, writes Radha Wagle
'It is critical that the G7 members now commit the resources required to realise the strategy, particularly through an increase in public financial support for the developing countries' - @lordstern1 adds his voice to those calling on @G7 to put $$$ where mouth is
"In the face of a perfect storm of planetary crises - the world's richest democracies have responded with a plan to make a plan" - @LaurenceTubiana, architect of Paris Agreement bbc.co.uk/news/science-e…
"The critical issue here is #climate finance..." @PEspinosaC told BBC this morning... "we are not seeing a clear signal from this G7 how delivery of the $100bn will come - that is unfortunate" - diplo speak for 'sort it out'
UN #climate chief also has a stark warning pre #COP26: 'if we do not see there is delivery [of $$] there will not be any appetite from developing countries to get into significant commitments'
It's (nearly) five years since the Paris Agreement was gaveled through… but was it any good? Tricky question. Based on emissions, temperature data and impacts, no. *But...* (thread)
The team at @SystemIQ_LTD have crunched the numbers & reviewed how far + fast sectors have shifted since 2015. Their take is the global economy could be a decade away from seismic tipping points that see the world move fast towards low carbon.
In 2015, zero-carbon technologies and business models could rarely compete with incumbent carbon-solutions. In 2020, zero-carbon solutions are competitive in sectors representing around 25% of emissions. In 2030 the figure’s looking like 70%.
Curious week. It's now very clear the world’s top 4 emitters – China, US, India, Russia – are all getting hit hard by #climate impacts which are having huge material & human costs…
This week China’s national climate centre warned the country is heating faster & contending with faster rising sea levels than the rest of the world cma.gov.cn/2011xwzx/2011x…
All that while China battles horrendous floods that have affected 63 million people, left 219 people dead or missing & caused at least $26 billion of economic losses.