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Developed Nations Pledge €8.8bn to Green Climate Fund, But Critics Say It's Not Enough

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Developed Nations Pledge €8.8bn to Green Climate Fund, But Critics Say It’s Not Enough

Bonn, Germany — As climate concerns take center stage in global dialogues, developed nations have come together to pledge $9.3 billion (€8.8 billion) to the Green Climate Fund (GCF) with a shared objective of assisting impoverished countries in mitigating climate change effects. However, the announcement, made at a conference in the German city of Bonn, has been met with mixed reviews.

The Green Climate Fund: A Beacon of Hope

The South Korea-based Green Climate Fund, initiated in 2010, is a premier global initiative aimed at financially backing developing nations as they strive to reduce emissions, grapple with the repercussions of climate change, and shift towards cleaner energy alternatives. The funds allocated during the Bonn conference are intended to sponsor projects in developing and emergent nations spanning the years 2024 to 2027.

The German government, leading by example, committed a generous €2 billion to the cause. Additionally, states such as Austria, France, Denmark, Ireland, and Liechtenstein have significantly bolstered their financial commitments. Denmark, Ireland, and Liechtenstein have commendably doubled their pledges from the last donor conference in 2019.

However, notable by its absence was a fresh pledge from the United States. Although President Joe Biden previously declared $1 billion (€950 million) in climate finance for developing nations earlier this year, this absence from the most recent round of commitments has raised eyebrows.

Criticism

Despite the substantial figures being committed, the prevailing sentiment among non-governmental organizations (NGOs) is one of discontent. Their contention is that the current pledges are insufficient to counteract the devastating climate impacts on the world’s most vulnerable populations.

Harjeet Singh, spearheading the global political strategy at the Climate Action Network International, expressed his disapproval, particularly highlighting the conspicuous silence of the United States. He described it as “glaring and inexcusable.”

Backing this sentiment, Liane Schalatek of the Heinrich Böll Foundation in Washington emphasized that developed countries must step up their game. She stated, “Developed countries are still not doing their part to help developing countries and affected people and communities with urgent climate actions.”

COP28: The Road Ahead

The commitment to climate funding will undoubtedly be a focal point of discussions at the upcoming UN Climate Change Conference, COP28, scheduled to commence in Dubai at the end of November. As anticipation builds, Sultan Al Jaber, the president-designate of COP28, has already voiced concerns, stating that the present level of replenishment falls short of the exigencies of the current global climate scenario.

Svenja Schulze, the German Minister for Economic Development, echoed this sentiment and made a fervent appeal for more nations to make meaningful contributions. Schulze also pointed out that not only industrialized nations, but also countries that have historically profited from fossil fuels and emerging nations with substantial carbon footprints, such as China, should take responsibility.

Conclusion

As global temperatures rise and climate calamities become more frequent, the commitment of wealthy nations to financially support those most vulnerable becomes ever more crucial. While the pledges at the Bonn conference are a step in the right direction, many believe that a more concerted and inclusive effort is imperative to truly combat the looming climate crisis. The upcoming COP28 conference is expected to further illuminate the path forward, but for now, the call for more substantial action remains loud and clear.

©globalgreenhouse.eu

EU Emission Standards for Vehicles Hit Roadblock: Member States Dilute Proposed Norms

CO2

EU Emission Standards for Vehicles Hit Roadblock: Member States Dilute Proposed Norms

BRUSSELS – Ambitious emission reduction proposals for combustion engine vehicles have faced significant setbacks, as several European Union (EU) member states rallied to temper stringent guidelines initially advanced by the European Commission.

Last year, the European Commission unveiled revised pollution standards targeting combustion engine vehicles. With these vehicles projected to ply European roads long after the proposed 2035 sales ban, the intent was to significantly diminish emissions from tailpipes, brakes, and tires.

The Commission’s initial proposal envisaged a commendable 35% drop in nitrogen oxide emissions from cars and vans relative to current emission norms for non-carbon dioxide pollutants. Moreover, an ambitious 56% reduction from buses and trucks was on the cards.

However, Monday witnessed a marked deviation from these ambitious targets. Succumbing to pressures from automakers and select member states, the rotating EU presidency—currently under Spain’s purview—endorsed a watered-down compromise. The diluted norms retain existing emission thresholds and testing conditions for cars and vans. In contrast, only buses and heavy commercial vehicles will see stricter regulations. Additionally, the new agreement encompasses decreased limits on brake particle emissions and tire abrasion rates.

Though separate, these standards were designed to buttress the EU’s broader climate objectives specifically targeting CO2 emissions.

Héctor Gómez Hernández, the acting Spanish Minister for Industry, Trade, and Tourism, defended the compromise, stating, “The Spanish presidency has meticulously navigated the diverse demands of member states. This proposal, we believe, not only garners wide-ranging support but also achieves a judicious balance between manufacturers’ investment costs and anticipated environmental gains.”

The adopted position will soon enter negotiations with the European Parliament, pending the latter’s consolidation of its stance.

In a significant leap towards climate action, the EU had previously decreed a comprehensive ban on the sales of new gasoline and diesel cars and vans by 2035. This move, nestled within the EU’s “Fit for 55” package, mirrors the overarching ambition of slashing greenhouse gas emissions by 55% within this decade.

Further stipulations under this deal mandate automakers to curtail emissions from new cars by 55% come 2030, using 2021 as the reference point. This trajectory aims for a complete emission reduction—a 100% cut—by 2040.

Emissions should be reduced by up to 100% by 2040

The Commission, recognizing the longevity of vehicles, opined that establishing new pollution norms for the concluding generation of combustion engines was paramount. This stance emerges from the realization that vehicles released into the market pre-2035 will remain operational for several subsequent years.

The stakes are undeniably high. The EU estimates that emissions from transportation account for an alarming 70,000 premature deaths annually within the bloc.

The softened regulations raise critical questions about the EU’s commitment to environmental action and the influence of industry lobbies. As the global community grapples with unprecedented climate challenges, the efficacy of such diluted measures remains to be seen.