To counter China, G7 leaders agree to increase climate finance

To counter China, G7 leaders agree to increase climate finance

CARBIS BAY (UK): G7 leaders will commit on Sunday to increase their climate finance contributions to meet an overdue spending pledge of $100 billion per year to help poor countries cut carbon emissions and combat global warming. To be.
Seven of the world’s most advanced economies will again pledge to meet the target, as part of plans billed as a way to accelerate financing of infrastructure projects in developing countries and shift to renewable and sustainable technology.
At the G7 summit in south-west England, there was an apparent push by leaders to try to counter China’s growing influence in the world, especially in developing countries.
He signaled his desire to create a rival to Beijing’s multi-trillion-dollar Belt and Road initiative, but details were few and far between.
Greenpeace UK said host British Prime Minister Boris Johnson “simply reheated old promises” and that some green groups were not impressed with climate pledges until the nation came up with the money.
“Protecting our planet is the most important thing we leaders can do for our people,” Johnson said in a statement.
“As democratic nations we have a responsibility to help developing countries reap the benefits of clean development through a fair and transparent system. The G7 has an unprecedented opportunity to drive the global green industrial revolution, in which our Has the potential to change the way we live.”
It did not provide any details or numbers for the new commitments.
A spokesman for Johnson confirmed that all G7 nations would make their contribution and said he expected individual nations to determine the size of the increase “in due course”.
oath overdue
Developed countries agreed at the United Nations in 2009 to contribute $100 billion each year to climate finance by 2020 to poor countries, many of whom are battling rising seas, storms and droughts worsened by climate change. went.
That target was not met, which was derailed by the coronavirus pandemic, which forced the British government to postpone the United Nations Climate Change Conference (COP26) until this year.
G7 leaders are also expected to take action to cut carbon emissions, including measures such as ending almost all direct government support for the fossil fuel energy sector abroad and phasing out petrol and diesel cars.
“The natural world has become much less today. It’s undeniable. Our climate is warming rapidly. It’s beyond doubt. Our societies and nations are unequal and it’s sad to see that clear,” people British naturalist David Attenborough, counsel for. COP26.
Attenborough will address the leaders via video message on Sunday.
He said the question for 2021 was whether the world was on the verge of destabilizing the planet. “If so, then the decisions we make in this decade – especially those made by the most economically advanced countries – are among the most important in human history.”
Greenpeace UK’s executive director, John Sauven, described the track record of rich countries in honoring their commitments as “disappointing” and Johnson’s failure to take “real action to tackle the climate and nature emergency”.
“While a commitment to providing more aid to developing countries is absolutely vital, we are not taking anything away until they run out of cash,” he said in a statement.

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