May 7, 2021 — LONDON: Sorting out a “roadmap” for a 2025 target for climate finance from richer nations is important for climate talks in Glasgow, according to the European Union.
Rich countries are currently seen falling short of $100 million a year finance target for developing nations.
SO, IS A ROADMAP ENOUGH FOR EMERGING COUNTRIES?
KEY COMMENT, from Frans Timmermans, who is leading the European Commission’s work on the European Green Deal and leading international negotiations to strengthen the ambition of other major emitters by 2021:
Bearing in mind that Parties to the Paris Agreement have given themselves until prior to 2025 to set the new goal, it is important to allow for a broad exchange of views and expectations.
All the aspects linked to the post 2025 goal deserve due attention; the effectiveness and transparency of support; the contributors base; and how the donor support fits into the wider context of making finance flows consistent with a pathway towards low greenhouse gas emissions and climate resilient development.
In this context, COP26 in Glasgow could agree on a roadmap for continued deliberations on the post-2025 goal over the years to come.