At crucial climate talks on Thursday, UN leader Antonio Guterres urged wealthy and developing countries to stop pointing fingers at one another and come to an agreement on paying for the losses sustained by vulnerable countries hit by natural disasters.
Developing an ambitious and genuine agreement on loss and damage and financial help for vulnerable nations would be the most effective method to restore confidence, according to Guterres, who also noted that there was an evident breakdown in trust between rich and emerging economies.
In his words, “This is no time for finger-pointing. The blame game is a recipe for mutually assured destruction.
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“The time for talking on loss and damage finance is over — we need action.”
The UN chief’s intervention comes as the climate talks are on the verge of collapse as affluent polluters and poorer nations— who are least responsible for global emissions— argue over the establishment of a “loss and damage” fund.
The G77+China, a 130-nation coalition, proposed that the fund be established at the COP27 and the specifics be worked out at the following UN negotiations in Dubai in 2023.
The United States and the European Union considerably modified their stance on loss and damage after delaying action by agreeing to address the subject at COP27.
Story was adapted from Channels.
