Realistic action plan needed to avert global climate change disaster

If the world’s richest countries were to repurpose a portion of their $7 trillion subsidies, then the $100 billion pledge to help poorer nations cope with climate change woes, would help a great deal.

Prior to the 27th UN Climate Change Conference of the Parties (COP27) held in Egypt, President Abdel Fattah El-Sisi was upbeat in hosting what was billed as the “Africa COP,” asserting that the world understands better the extent of the disruptive climate impacts and what was required.

But the upshot of the two-week talks was a vague “loss and damage” fund. It fell far short of what the vulnerable nations were yearning for, in addition to the wavering on the steep carbon emission cuts promised by wealthy nations.

The global north, begrudgingly agreed to a compensation kitty, aware that it would be a hard sell to their voters who may not easily accept bankrolling efforts to curb climate change.

Besides, a watered-down statement that appeared to erode commitments made in Glasgow was read. A vague agreement that rich countries should pay poor ones for climate-related “loss and damage,” wrote the Economist.

The unwavering was evident before the COP27 when the biggest emitters were a no-show at the Africa Adaptation Acceleration Plan Summit in the Dutch port city of Rotterdam.

The centrepiece of the plan by the Africa Union is jobs, raised incomes and improvement of living standards. $1.3 trillion is required over two decades for climate adaptation and mitigation. There is just too much rhetoric on sustainability and climate adaptation.

As we gear up to COP28 at the Expo City in Dubai from November 30 to December 12, the cloud of unfulfilled promises hangs over the talks.

A World Bank report “Detox Development: Repurposing Environmentally Harmful Subsidies” says the rich nations, instead, easily roll out ‘inefficient and environmentally damaging subsidies to agriculture, fishing and fossil fuels.’

The $7 trillion used in global subsidies is eight percent of the global GDP – redirecting them could unlock at least $500 billion per year towards more productive and sustainable uses, says the report.

It adds that, annually, countries spend six times more on subsidising fossil fuel consumption than their commitments made under the Paris Agreement to tackle climate change.

Addressing the United Nations Habitat Assembly, Kenya’s President William Ruto called for a stop to the climate talks.

There were no tangibles, he opined. He was referring to the unmet climate financing promises and the wavering on steep emission cuts.

All these signify a deficit in global cooperation and leadership at the expense of four billion people in vulnerable nations.

The urgency to cut CO2 emissions appears not to be a shared one even as consensus builds that the planet is heating up fast.

Reforming the global lenders to align their policies to support climate change actions will be a step in the right direction.

The writer is a communication consultant at Apex Porter Novelli. [email protected]