adminPARIS. — United Nations Framework Convention on Climate Change (UNFCCC) executive secretary Christiana Figueres yesterday called for support to meet the funding goals for the Adaptation Fund, which assists vulnerable communities in developing countries adapt to climate change.
The Adaptation Fund has received new commitments for 2015 amounting to almost $75 million including from Germany, Sweden, Italy, and the Walloon Region of Belgium.
Speaking at the ongoing climate talks at the 21st Conference of Parties (COP 21) to the UNFCCC, Figueres said the pledges were very close to the $80 million a year target which was set about two years ago.
“I would like to thank all those who have prior to and at COP21 pledged financial support to the Adaptation Fund.”
“The announcements at the UN climate change conference by Germany, Italy, Sweden and Wallonia now put us in striking distance of that $80 million aim.
“I would call on others to come forward with the final support needed in order to register yet another success here in Paris towards the overall goal of a low emission, resilient world,” she said.
According to a recently report that Oxfam published, current pledges to cut carbon emissions will cost developing countries 50 percent more than if global warming was limited to 2 degrees Celsius.
It also estimates that if the total sum given for adaptation to date was divided among all small-holder farmers in developing countries, each individual would receive $3, equivalent to the price of a cup of coffee.
Meanwhile the United States government said it will double grant-based, public Climate Finance for Adaptation to $800 million to assist vulnerable nations prepare for, and build resilience to, the impacts of climate change.
“As of 2014, the United States invested more than $400 million per year of grant-based resources for climate adaptation in developing countries.
“These investments provide support, through both bilateral and multilateral channels, to vulnerable countries to reduce climate risks in key
areas, including infrastructure, agriculture, health and water services,“ it said.
“Today’s commitment to double that figure by 2020 is a component of an existing commitment by developed countries to jointly mobilise $100 billion per year by 2020 from a wide variety of sources, in the context of meaningful mitigation actions and transparency on implementation,” it added.
Developing countries were promised $100 billion a year to assist mitigate climate change and adapt to its consequences but last year just 16 percent of the aid money was used to help the world’s poorest countries adapt to the impacts.
Scaling up international climate finance under the UN Framework Convention on Climate Change (UNFCCC) may lead to sufficient funding for adaptation. — New Ziana.
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