Focus turns to climate finance after flurry of COP26 pledges

Governments will push for an agreement on Monday on how to help vulnerable countries deal with global warming and compensate them for damage already done, a test of whether developing and rich nations can end a standoff over cash for climate change.

At the start of a crunch week for the UN climate talks in Glasgow, government ministers will get down to the nitty-gritty of trying to honour earlier promises to pay for climate-linked losses and damages and addressing questions of how best to help nations adapt to the effects of climate change.

Britain, which is hosting the COP26 meeting, will again try to set the pace, announcing $391 million in new funding, including support for countries in the Asia Pacific to deal with the impact of global warming.

That will come, the British government says, on top of the billions in additional international funding already committed by rich countries such as the United States, Japan and Denmark for adaption and resilience in vulnerable nations, many of which have experienced the worst effects of climate change.

But while developing countries want more money to help them adapt to higher temperatures that have caused more frequent droughts, floods and wildfires, developed nations have encouraged finance to go towards cutting emissions.

“We must act now to stop climate change from pushing more people into poverty. We know that climate impacts disproportionately affect those already most vulnerable,” said Anne-Marie Trevelyan, who was appointed by the British government to focus on adaptation and resilience.

“We are aiming for significant change that will ultimately contribute to sustainable development and a climate-resilient future for all, with no one left behind,” she added in a statement.

After a week when many pledges were made and richer countries were accused by some developing nations of breaking past promises, Monday’s session will focus on ministers’ arguments on dealing with adaptation, loss and damage.

ARR