India and Brazil are well-postured to shape the global climate conversation at large as the developing world speaks up louder for climate action, said Andre Lago, President Designate of the upcoming COP30 in Belem, Brazil.
US is getting out of the Paris Agreement, but lots of states, lots of sectors in the United States remain fully committed to our goals on climate, Lago said addressing a press conference in New Delhi on Thursday. “There are 22 Governors in U.S. still on board with Paris Agreement, two-thirds of U.S. economy remains on track,” he said.
Lago stressed the requirement for climate financing to go beyond the United Nations Framework Convention on Climate Change (UNFCCC) and encouraged international financing institutions such as the World Bank and International Monetary Fund to fulfill more aggressively on incorporating climate solutions.
“We must widen our availability of money to finance transition towards fronts of adaptations and modifications,” Lago observed, emphasizing the need to take together countries forever separated by climate impacts like the ‘Loss and Damage’ construction.
After COP29 in Baku, when developing countries received only $300 billion annually through 2035—far less than the required$1.3 trillion—and Lago emphasized the need for increased financing mechanisms to deal with global climate problems.
As the world gears up for COP30, India and Brazil are anticipated to spearhead the debate on just climate action, and deliver tangible promises for developing countries most vulnerable to the impacts of climate change.