Today marks the start of the second week of the UN Climate Summit COP26 in Glasgow. During the second week, the high-level segment of the meeting will begin with negotiations at the ministerial level. After that, the countries will, among other things, negotiate the last parts of the Paris Agreement rulebook. A major focus will also be on the need to increase ambition in global climate action.
We are already in the midst of a climate crisis and now the countries of the world need to work together to reverse the trend and reduce emissions quickly. Environment and Climate Minister Per Polund says the outcome of the climate negotiations should point a way toward increased ambitions and tougher climate targets.
The results of COP26 will also be evaluated on the basis of whether developed countries have succeeded in achieving the goal of mobilizing $100 billion in climate finance by 2020-2025. The money will go to enable climate change countries from developing countries. British Presidency commissioned Per Polland to lead a ministerial dialogue on climate finance on Monday. The dialogue is taking place with Egypt and the starting point are the reports on forward-looking climate finance that donor countries have been invited to submit in accordance with Article 9 (5) of the Paris Agreement. This is the first time that this kind of dialogue has taken place within the framework of the Paris Agreement.
I am happy with the confidence to lead the conversation on climate finance and I look forward to together finding a way forward. Per Polund says the issue of finance is key to how well we can handle the climate crisis, if we solve the problem of climate finance, we’ll have good conditions to take bigger steps forward.
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