The COP25 talks are set to tussle over whether a new financing facility should be set up to compensate poorer countries for 'loss and damage' caused by extreme weather
Marshall Islands leader describes ocean inundations while Bangladesh’s premier says climate change is ‘an existential threat for all countries’Hope: Spanish Prime Minister Pedro Sanchez, left, and UN secretary-general Antonio Guterres at the UN Climate Change Conference in Madrid on Monday. The conference brings together leaders, activists, NGOs, indigenous people and others in an effort to focus global policymaking on concrete steps for heading off a further rise in global temperatures.
“We are bearing the brunt of damage”, despite having contributed very little to the greenhouse gas emissions heating up the planet, she said at an event with leaders of some particularly climate-vulnerable nations. Under the 2015 Paris Agreement, adopted by about 195 nations, governments promised to strengthen their national climate action plans every five years with the aim of keeping global warming to a lower agreed limit of 1.5The world has already warmed more than 1°C since pre-industrial times, scientists say, and is expected to pass the 1.5°C mark as early as 2030.
Other countries are unlikely to follow that lead until 2020, but Heine said the Madrid talks should end with a decision urging all countries to raise their game by the end of 2020.On Monday, the 48 countries in the Climate Vulnerable Forum also called for the creation of a UN special rapporteur on climate change and human rights, which they said they would fund with $50,000 from a new trust fund.
Climate-threatened countries often face paying higher interest rates when they borrow because of fears they will struggle to pay the funds back. That creates a “vicious cycle”, Hernandez said.
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