Where do we stand with NDCs? Enhancing action on climate change in 2020 – Green Climate Fund

I would like to congratulate UNFCCC for this timely event on enhancing action on climate change in 2020.

2020 is a critical year for raising NDC ambitions and was supposed to culminate at COP 26 this November. However, the Covid-19 pandemic is devastating human lives and economies worldwide and has also led to postponement of COP 26 to November 2021. Developing countries – already the most vulnerable to the impacts of climate change – will suffer the most from the job losses and economic crisis.

 

Our common challenge is to maintain climate ambition in the context of Covid-19 and foster a green, resilient recovery based on global solidarity. Addressing climate change can revive economies, create jobs and foster resilient development. As leaders consider stimulus measures, we have a rare opportunity to leverage such measures to both create jobs in the short-term and foster a paradigm shift towards low-emission, climate-resilient development.

 

NDCs already have many investments that meet the dual objectives of addressing climate change and reviving economies through job creation. For example, investment in energy efficient building can rapidly generate large employment opportunities, reduce energy poverty, and increase energy security and resilience to extreme weather events.  Similarly, investments in climate resilient agriculture, water management and sanitation will preserve livelihoods and foster ecosystem restoration while investment in shovel-ready climate resilient infrastructure will protect people, jobs, and assets.

 

To ensure that countries maintain momentum on NDCs in 2020, it is critical that NDCs are leveraged to ‘green’ national recovery measures. This can be achieved in 2 ways: First, by integrating priorities in NDCs which promote green resilient recovery into stimulus packages to secure financing; and second, by crafting new green resilient recovery measures to enhance NDCs.

 

Most developing countries, particularly least-developed countries (LDCs) and small island developing states (SIDS) do not have the financial resources to consider billion-dollar stimulus packages. Developing countries will need to use scarce public resources and innovative financial structuring to catalyze larger financial flows to ensure that these green stimulus measures do not compound the debt burden they face.

 

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The July CBFP Flash News is available! Please check it out...

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