The 45 least developed countries call for more funding to combat climate change

The world’s 45 least developed countries (LDCs) stressed the need to set a new financing target that takes into accountto “the changing needs of developing countries” at the upcoming COP29, which will be held in November in Baku.

Ministers and heads of delegation from these countries adopted the Lilongwe Declaration for 2024 on Climate Change, which sets out the group’s priorities for the next meeting. climate summitthe LDC reported in a statement released late on Friday.

The text underlines “the critical importance of achieving deep reductions in global emissions, “significantly increase support for addressing climate change in vulnerable countries and emphasize the role of climate finance as a key enabler of climate action.”

“We want COP29 to deliver a bold commitment to address climate change. It’s not just about promises; it’s about providing the resources needed to protect lives and the livelihoods of millions of people on the front lines of the climate crisis”said the group’s president, Malawian Evans Njewa.

Funding is requested for damages caused by natural disasters

The LDCs, meeting last week in Lilongwe, the capital of Malawi, called for additional public funding, mainly in the form of grants, noting that their countries need between 5.8 to 5.9 trillion dollars (around 5.2 to 5.3 trillion euros) by 2030.

In particular, they stressed the “urgent need” for additional funding for key climate funds, including the LDC fund and the Green Climate Fund (GCF), “vital to address the severe impacts of climate change on vulnerable populations.”

In this regard, they demanded that financing to respond to losses and damages caused by natural disasters be included as a sub-objective of the new financing objective.that they are asking for COP29.

Finally, the LDCs reaffirmed their commitment to promote “key” initiatives to combat climate change and promote sustainable development.

And they expressed their “strong support” for a just transition that increases access to energy in their countries, but ensures that the shift to low-carbon economies “be equitable and inclusive, leaving no one behind.”

EFE