The Climate and Development Ministerial will bring
together countries and partners to work on solutions to
the flooding, drought and extreme temperatures faced by
many developing countries, as well as opportunities for
energy access, cleaner air and smarter cities.
The event co-chaired by the COP26 President, and
the Foreign Secretary, , will
be convened virtually. The UK’s International Champion
on Adaptation and Resilience for COP26 , will also take part alongside
representatives from youth groups, indigenous peoples
and financial institutions.
This is a key moment on the road to COP26 in Glasgow
later this year and aims to build consensus on
practical actions and solutions across four key areas:
-
Responding to Climate Impacts: better coordination
and international cooperation to address losses and
damages related to climate change
-
Fiscal Space and Debt Relief: alleviating fiscal
pressure in developing countries so that they are
more able to address climate change
-
Access to Finance: improving climate vulnerable
countries’ and communities’ access to finance to
decarbonise their economies and adapt to climate
change
-
Better Finance: addressing the challenge of how to
improve the quantity, quality and composition of
climate finance, in particular to mobilise funds
for adaptation and resilience and support the most
vulnerable
Ahead of the event, the UK Government is announcing
£500,000 of funding for the new Initiative for
Voluntary Carbon Market Integrity. High-quality
voluntary carbon markets could increase finance flows
to where it is most needed, helping to create greener,
more inclusive and resilient economies around the
world.
Also taking place today is the IEA-COP26 Net Zero
summit. Decision makers from more than 40 countries
will come together to focus on the need for
international collaboration to accelerate a clean
energy transition ahead of COP26. This is being
co-hosted by the IEA Executive Director Fatih Birol and
COP26 President .
In his speech later today, COP26 President is
expected to say:
“This is one of the most important events we are
hosting in the run up to COP26. We must acknowledge
that the people who have done the least to cause the
climate crisis are suffering the most.
“That is a searing injustice. And so developed
countries have a particular responsibility to support
the response of communities, which are most vulnerable
to climate change.
“It is absolutely vital that we find solutions because
we are running out of time to keep the crucial 1.5
degree target within reach.”
Foreign Secretary is
expected to say:
“Today is all about hearing from those countries that
are most vulnerable to climate change – those on the
front line of this fight.
“We need to consider where international systems can do
more to deliver urgent climate action.
“We know that lack of finance creates barriers to
countries implementing the Paris Agreement. Combined
with the challenge of recovering from the pandemic,
this threatens to set back progress.
“The UK is responding. We have committed £11.6 billion
over the next five years in climate finance.
“The way forward must be to engineer a green recovery
that delivers for people and planet.”
