“After encouraging language proposed by India and supported by the EU and even US, the language in the draft around phaseout of fossil fuels is far too weak, referring only to ‘unabated coal.’ What we need is an equitable phase out of all fossil fuels if we’re going to ensure the world’s temperature does not rise above 1.5 degrees but this plan won’t achieve that.”
“The language on finance is similarly weak, which is particularly concerning given the lack of emphasis on equity throughout the draft. The global climate crisis cannot be resolved unless rich countries take action the fastest, including by providing finance for developing countries. It is the rich world’s failure to mitigate and provide climate finance that has led to the urgent need for a Loss & Damage finance facility to be agreed here at COP27.
“We urgently call on the presidency to recover this note.”
Michelle Higelin, Executive Director at ActionAid Australia: “Australia cannot let COP27 end without providing a significant boost to its climate finance and ensuring countries agree to the establishment of a loss and damage finance facility. Australia currently funds just one-tenth of its global fair share of climate finance. This is simply not good enough.”
“If Australia wants to re-establish itself as a climate leader in the Asia-Pacific and co-host COP31 with the Pacific, it must immediately end all new fossil fuel subsides and redirect this money to fund climate finance and loss and damage financing.
ENDS
Contact Milly Atkinson Handley, [email protected]
About ActionAid
ActionAid is a global women’s rights organisation supporting women living in poverty and exclusion in more than 40 of the world’s poorest countries. We want to see a just, fair, and sustainable world, in which everybody enjoys the right to a life of dignity, and freedom from poverty and oppression. We work to achieve social justice and gender equality and to eradicate poverty. www.actionaid.org.au