World leaders on Monday in Katowice, Poland renewed calls for action to deal with the impending fall out of climate change and swift implementation of the 2015 Paris Climate Change agreement.
The Bank announced that it was doubling its current 5 year investments to around $200billion to boast adaptation and resilience, recognizing climate change impacts on lives and livelihoods, especially in world’s poorest countries.
But the World Bank, in response to demands for increased funding to tackle climate change, announced that it was setting aside the sum of 200b USD in an action parked program for climate change adaptations over the next one year
Kristalina Georgieva, the Chief Executive Officer of the World Bank, who announced the donation, said the fund is to help weak countries undertake climate change actions for adaptation.
“ The climate change is an existential threat to world’s poorest and most vulnerable. The new targets demonstrate how seriously we are taking this issue , investing and mobilizing $200 billion over five years to compact climate change”
The Bank said the fund is made up of approximately $100 billion in direct finance from he World Bank and approximately$100 billion of combined direct finance from the International Finance Corporation IFC and the Multilateral Investment Guarantee Agency, as well as Private Capital mobilization by the World Bank group
The call is coming on the heels of the leaders observations that the zeal with which the 2015 Paris agreement for a sustainable global action against climate change, has weakened
This is also coming against the backdrop of revelation by the World Meteorological Organization, that the 20 warmest years on record have been in the past 22 years, with the top four in the past four years.
The Secretary General of the United Nation’s Organization, Antonio Guterres in his welcome speech, said recent special report from the Intergovernmental Panel on Climate Change finds that warming could reach 1.5 degrees as soon as 2030, with devastating impacts.
“ The latest UN Environment Programme Emissions Gap Report tells us that the current Nationally Determined Contributions under the Paris Agreement will lead to global warming of about 3 degrees by the end of the century.”
There was also revelations that concentration of carbon dioxide is the highest now, than it had been in the last 3 million years.
The 2015 Paris agreement was aimed at raising Increased transparency for the action to mitigate against global climate change even as the leaders observed that Global green house gas emission is rising again
The United Nation’s Secretary General, António Guterres, minced no words in sounding the warning with his observations that the world was indeed in trouble
and called for urgent actions to tackle climate change.
“ We are in trouble. We are in deep trouble with climate change” Guterres said.
The concern expressed by the world leaders emanates from the fears that the climate change is running faster than the world is acting
“ We must catch up sooner rather than later before it is too late”
Breaking heat, increased fire outbreaks, desertification, melting glaciers and other forms of unpredictable weather conditions are seen as danger signals calling for urgent action to mitigate the challenge.
According to Guterres “ It is hard to overstate the urgency of our situation, as for many people, regions and even countries this is already a matter of life and death.”
He noted that the world was not yet doing enough “even as we witness devastating climate impacts causing havoc across the world”
“ nor moving fast enough, to prevent irreversible and catastrophic climate disruption”
The leaders called for a deep and just solution to the climate change frame work, aimed at removing the planet from a great danger.
The Katowice dialogue is expected to hopefully lead to a new sets of agreements on how to operationalize the Paris agreement in a more realistic and firm manner.
Guterres in his message, listed four areas of concentrations that should guide actions such as , science demands a significantly more ambitious response, the Paris Agreement provides the framework for action, so we must operationalize it, we have a collective responsibility to invest in averting global climate chaos, to consolidate the financial commitments made in Paris and to assist the most vulnerable communities and nations and four, climate action offers a compelling path to transform our world for the better.
For him “ even though the “IPCC’s Special Report tells us that we still have time to limit temperature rise, that time is running out.”
He noted that Paris success was achieved because negotiators were working towards a common goal, and urged the Katowice summit “to maintain the same spirit of urgent collaboration here in Katowice with a dynamic Polish leadership in the negotiations.”
“Katowice must ensure that the bonds of trust established in Paris will endure.
“Incredible opportunity exists if we embrace a low-carbon future and unleash the power of the Paris Agreement.
“But we must start today building the tomorrow we want.”
The Katowice Climate Change Conference is the 24th session of the Conference of the Parties (COP 24) to the UNFCCC, the 14th session of the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol (CMP) and the third part of the first session of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA 1-3).
The conference also include the 49th sessions of the Subsidiary Body for Scientific and Technological Advice (SBSTA) and the Subsidiary Body for Implementation (SBI), and the seventh part of the first session of the Ad Hoc Working Group on the Paris Agreement (APA 1-7).
The conference will amongst other things help to finalize the rules for implementation of the Paris Agreement on climate change under the Paris Agreement work programme (PAWP, as well as a number of high-level events, mandated events, action events and roundtables.
Tony Ailemen, Poland