A woman walks in the venue for COP28, or the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change, in Dubai, the United Arab Emirates, Dec. 12, 2023. (Xinhua/Wang Dongzhen)
“A greater increase in climate finance, as it relates to adaptation, has been sorely lacking,” Dennis Francis, president of the UN General Assembly (UNGA), has said.
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UNITED NATIONS, Dec. 18 (Xinhua) — “A greater increase in climate finance, as it relates to adaptation, has been sorely lacking,” Dennis Francis, president of the UN General Assembly (UNGA), has said.
During an interview with Xinhua on the heels of COP28, or the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change, Francis sorted out two pivotal realms: dealing with “loss and damage” and advancing climate finance for adaptation.
Francis expressed satisfaction regarding the progress made at COP28 in capitalizing the fund for loss and damage, a development he described as “most welcome.”
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However, Francis stressed the need for more climate finance for adaptation. Given the imbalance in climate funding, he advocated for a shift towards adaptation strategies to build resilience against climate change’s effects.
He acknowledged the enduring endeavors of developing countries to highlight this matter on the COP agenda.
“This year, we have seen the initiation of the process of capitalization of that fund,” he said, emphasizing its importance in assisting developing countries and the most vulnerable in coping with the financial strains brought on by climate change.
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“Only about 2 percent of the resources committed to climate change have gone towards adaptation, most of the money has gone to mitigation,” the UNGA president lamented.
While acknowledging the importance of mitigation in providing immediate relief to countries impacted by climate change, he stressed that the real challenge lies in adaptation.
“Adaptation will build resilience to climate change,” he said, pointing to the necessity of safeguarding public infrastructure for the basic functioning of societies.
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In addressing the issue of the 100 billion U.S. dollars commitment to climate finance, Francis said that “100 billion U.S. dollars was a long time in coming and, in fact, has not been fully subscribed. It’s close, but it’s not been fully subscribed as yet,” expressing hope for its full capitalization soon.
From the perspective of the UN General Assembly, Francis said, “Our interest would be to ensure, first of all, that the resources commitments given are honored.”
He called for ensuring broad geographical access to these resources, particularly for the most vulnerable and fragile countries.
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Francis reiterated the UN General Assembly’s commitment to seeing that the 100 billion dollars climate finance pledge not only serves as a political statement but translates into tangible and effective support for countries most impacted by climate change. â–
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