On paper they all agree. Financing the energy transition of the poorest countries for 100 billion dollars will be the main commitment of the G20 which opens on Saturday in Rome. That will be the concrete offer that the main 19 world economies in addition to the European Union will bring to the attention of developing countries present at COP 26 in Glasgow from 1 November. At least 20 billion would be missing from the appeal, but in the meantime, from the statements of the President of the United States Joe Biden, the President of the Commission Ursula von der Leyen as well as the Russian President Vladimir Putin, a sort of run-up to those who offer more on the climate emerges.
EU and member states main contributors to climate finance
According to von der Leyen, 80% of emissions harmful to the climate come from countries but concrete commitments are needed and “the G20 must be able to deliver 100 billion dollars a year to the most vulnerable countries for ‘climate finance’ starting from ‘next year, not from 2023 ”to combat climate change, climate adaptation and mitigation. According to the EU chief executive, the EU and member states are already the largest contributors to climate finance with over 25 billion dollars a year. “I have promised an addition of 5 billion until 2027 and I expect others to increase their ambitions too,” added von der Leyen. The EU, says von der Leyen, “is on the way to becoming the first climate-neutral continent by 2050. We have already reduced our emissions by more than 31% compared to 1990, with economic growth of 60%”. German Chancellor Angela Merkel and Federal Finance Minister Olaf Scholz intend to give a signal of continuity in the G20. Merkel and Scholz want to send a strong signal on the subject of fighting climate change before the world climate summit, COP26.
From the United States investments for the climate of 555 billion dollars
The United States is playing higher and announces an investment in the climate of the order of 555 billion dollars in the framework agreement of Joe Biden’s “Build Back Better” plan of about 1750 billion dollars for the relaunch of the country. And, the largest single investment in the history of our clean energy economy, highlights the White House, recalling the goal of cutting the reduction of greenhouse gases by 2030 by “over one gigaton, or billion metric tons, at least 10 times bigger than any law Congress has ever passed ”. The COP26 according to the envoy for the climate of Biden, John Kerry can represent a “victory” for the environment and life on this planet but we must act now.
Russia: carbon neutrality foreseen by 2060
As for Russia, Russian President Vladimir Putin expressed Russia’s readiness to cooperate with other countries on the front of energy security, the fight against climate change and to overcome the imbalances in the global economy. On November 8, Gazprom will finish filling Russian gas reserves and will therefore be able, Putin explained, to “gradually” increase the volume of gas in storage sites in Austria and Germany, in order to “fulfill contractual commitments to supply partners. Europeans for the autumn-winter period ». In view of the G20 and COP26, Putin also discussed the protection of the environment with the National Security Council. “At COP26, there are a plethora of topics on the agenda. Today we will face them too, ”explained Putin, who recently set Russia’s commitment to achieve carbon neutrality by 2060, not to mention goals for his country.
China: zero emissions but only by 2030
China also presented the expected plan to reduce greenhouse gas emissions, in view of the opening of the COP26 conference. The Guardian reported, underlining that “it shows little progress compared to the ambitions previously announced by China, disappointing observers of the fundamental climate talks”. According to the plan presented to the UN, “emissions would peak by 2030 and fall to net zero three decades later,” a time widely considered to be too late to ensure that the world limits global warming to 1.5 degrees above pre-industrial levels, key focus of the talks.