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In run-up to COP 26, Petersberg dialogue and G7 start fleshing out commitments on adaptation
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Arguing that the world stands “at the edge of the abyss” on climate, UN Secretary General Antonio Guterres issued an urgent new call to ministers at the Petersberg Climate Dialogue that ended Friday to do more to balance climate finance for adaptation and mitigation.
Adaptation in the developing world alone was now estimated to cost US$ 70 billion a year, Mr Guterres said by video link, and this could rise to US$ 300 billion by 2030.
“I reiterate my call to donors and multilateral development banks to ensure that at least 50 per cent of climate finance is for adaption and resilience”, he added, noting that money for adaptation to developing countries currently represents only just over 20 per cent of all climate finance.
G7 Foreign and Development Ministers’ Meeting Communiqué (London, 5 May 2021) Share
I. Preamble
1. We, the Foreign and Development Ministers of the Group of Seven (G7), and the High Representative of the European Union, are meeting today at a critical juncture for our people, our planet, our security and our future prosperity. Democracy is under pressure globally; the pandemic continues to pose acute global challenges; new technological threats are mounting; and the catastrophic effects of climate change are increasing. We commit to strengthening open societies, shared values, and the rules-based international order. We affirm that free and fair trade, and the free and secure flow of capital, data, knowledge, ideas and talent is essential to our long-term prosperity. We affirm that liberal democracy and free and fair markets remain the best models for inclusive, sustainable social and economic advancement. We commit to tackling threats jointly and committing our resources to a
Women from the Campo del Cielo community upload photographs of the Pilcomayo River and share them with each other and experts to monitor flooding. Photo by Nanum Centers.
The Pilcomayo River frequently floods, creating a reoccurring disaster of lost lives and property for the rural communities of South America’s Gran Chaco region. Unlike most rivers, during the rainy season up to a third of the Pilcomayo’s volume is sediment carried in the water, and its path is unpredictable. When the muddy river floods its banks, it deposits that sediment in huge mounds of mud, at times burying entire houses and cars.
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Ministers from Antigua and Barbuda, Bangladesh, Bhutan, Brazil, Canada, Chile, Colombia, Costa Rica, Democratic Republic of the Congo, Egypt, Ethiopia, the European Union, Fiji, France, Gabon, Germany, Ghana, Grenada, Guinea, India, Italy, Jamaica, Japan, Malawi, Maldives, Marshall Islands, Morocco, Norway, Pakistan, Philippines, Rwanda, South Africa, Sudan, Trinidad and Tobago, Tuvalu, United States, United Arab Emirates, the Deputy Secretary General of the United Nations, and heads of the Asian Development Bank, Green Climate Fund, Asian Infrastructure Investment Bank, European Bank for Reconstruction and Development, African Development Bank, Adaptation Fund, Caribbean Development Bank, Global Environment Facility, Inter-American Development Bank, International Monetary Fund, World Bank, Organisation for Economic Co-operation and Development, The Society for the Promotion of Area Resource Centres (SPARC) India, The Indigenous Peoples’ Caucus and youth representat