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Economic losses to be a focus in UN climate talks

Nations may focus on human and economic losses at climate talks, Economic Times By Urmi Goswami, ET Bureau, Nov 06, 2017, BONN: As officials from 196 countries gather in Bonn to work on a collective plan to slow down global warming at the 23rd round of UN-sponsored climate talks, developing countries are highlighting the urgent need to step up efforts to address the serious human and economic losses already taking place due to climate change. Developing countries are calling for the urgent need to secure long-term finance flows to help poor countries take the measures required to tackle climate change and deal with .

Developing countries are suggesting that a quantified goal for long-term finances, beyond the $100 billion by 2020, be agreed on to help poor countries.

The G-77 and China, the negotiating group comprising 132 developing countries, is planning to focus on the need to proactively address the clear impact that climate change is already having. Their focus will be on ensuring the flow of finance, technology, and building capacities in developing countries to deal with climate change. The group will also push for increased discussions of adaptation that will help countries to adjust to changes that are already underway. The G-77 will focus on the extreme weather events in the past year to make its case at the opening assembly on Monday.

Sources indicated that in its address to the opening assembly, the G-77 and China will focus on extreme weather events in the past year to make its case at the opening assembly on Monday. The developing countries group, represented by Ecuador, is expected to draw attention to the “serious human and economic losses” to urge greater focus on efforts by countries, particularly industrialised ones, in the period before 2020. Climate change impact, the G-77 stressed, will not wait until 2020, when the Paris Agreement with its national climate action plans come into effect. This year’s meeting is taking place in the shadow of extreme weather events— hurricanes, floods, droughts, and forest fires— across the globe. These drive home the message that the impact of climate change is no longer in the future and instead are a clear and present danger.

The other clear learning is that while climate change impact does not discriminate between rich developed and poor developing nations, the latter are more vulnerable. The rich industrialised countries have the resources and resilience to recover and rebuild. For poor, developing countries these extreme events present major setbacks. ……..

November 6, 2017 - Posted by | 2 WORLD, business and costs, climate change

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