Climate ministers meet in Copenhagen, support reform of World Bank Climate ministers and envoys convened the two-day Copenhagen Climate Ministerial on Monday, which is hosted by the incumbent Egyptian and incoming UAE Presidencies of the Conference of the Parties (COP), and Denmark's minister of energy and climate Dan Jorgensen.
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Copenhagen: Two days of climate dialogue concluded on Tuesday with the Copenhagen Climate Ministerial wrapping up in Copenhagen. During the ministerial, climate leaders from around the globe exchanged views and sought out common ground on issues such as mitigation, loss and damage, climate finance and adaptation. This way the ministerial serves as an important steppingstone to COP28.
Climate ministers and envoys convened the two-day Copenhagen Climate Ministerial on Monday, which was hosted by the incumbent Egyptian and incoming UAE Presidencies of the Conference of the Parties (COP), and Denmark’s minister of energy and climate Dan Jorgensen.
On second day, Climate ministers and decision makers from some 40 countries agreed there is currently a window of opportunity to reform multilateral development banks (MDB), in particular the World Bank, Danish Minister for Development Cooperation and Global Climate Policy, Dan Jorgensen, said. “We need a greening of the bank,” Jorgensen told a news conference on Tuesday, explaining that the World Bank should no longer focus exclusively on poverty reduction.
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“In the future, the bank should look much more at fighting climate change and at climate adaptation issues,” he said. Discussions also focused on innovative sources of finance for climate action, as developed countries are looking for ways to mobilise a so-far unmet pledge of $100 billion per year by 2025, after the goal was initially set for 2020.
A reform of the ways in which climate action is funded has been a major point of contention in global climate talks. While the meeting did not result in a particular formulation of what reforms of climate financing should look like, “it’s a growing request from a very large proportion of the parties and participants”, COP27 President Sameh Shoukry said.
Egypt’s Foreign Minister and COP27 President Sameh Shoukry, and COP28 President-Designate Sultan Al-Jaber were co-chairing the meeting with Simon Stiell, Executive Secretary of the UNFCCC, other UN senior officials and non-governmental stakeholders in attendance.
The political high-level meeting in the Danish capital focused on catalyzing the implementation of the outcomes from COP27.
“The Copenhagen Climate Ministerial is a milestone on the pathway to COP28 which will see the conclusion of the first-ever Global Stocktake – and aim to reignite momentum against climate change. Guided by the solutions laid out by the IPCC, this must be our moment to course correct and to usher in a complete and urgent response that accelerates all our efforts”, Dr Sultan Al-Jaber, COP28 President-Designate said.
The meeting tackled the main issues of adaptation, finance, mitigation and loss and damage through a threefold agenda that addresses: Implementing the Sharm el-Sheikh Implementation Plan (SHIP) and building on COP27 outcomes, commitments and pledges, setting the course for a successful COP28 in the UAE, and cementing Paris Agreements targets through the first Global Stocktake exercise.
“I am very pleased to co-lead once again the Copenhagen Climate Ministerial. Last year, Minister Dan JA,rgensen and the Danish government provided a dynamic and constructive platform for ministerial climate conversations. The ministerial is an opportunity for us to reflect on the instrumental breakthroughs, as well as key achievements that came out of Sharm El Sheikh and consolidate the unity of purpose in fighting climate change and driving further implementation and action through 2023, on the road to COP28 in the UAE,” said Shoukry.
“I continue to urge more ambitious climate action, remind us of the perils of backsliding, and to stay focused on implementation and outcomes.”
For the first time since COP27, ministers of climate and prominent political figures met in person to advance the COP process.
They are expected to push for further robust climate action that meets COP27’s milestone achievements and ambitions, and maintains the momentum for delivering at COP28, where the priorities will include: Operationalizing the loss and damage funding arrangements and fund; finalizing the outcome on Global Goal on Adaptation; Implementing the Mitigation Work Programme; launching the Just Transition Work Programme; and keeping the 1.5 ambition alive.
“This year’s climate negotiations are absolutely crucial for us to avert the most serious consequences of the climate crisis and keep the goal of limiting the global temperature increases to 1.5C alive. Bold decisions must be made now if we are to achieve the goals of the Paris Agreement.
The ministerial agenda comprised plenaries and breakout sessions, on climate adaptation, finance, loss and damage, mitigation, as well as the ‘Global Stocktake’, which will take place at the COP28”, Dan Jørgensen, Danish Minister for Development Cooperation and Global Climate Policy said.
The Global Stocktake is part of the ambition mechanism built into the Paris Agreement and will take stock of its implementation to assess the common progress of succeeding with the long-term goals of the Agreement.
-Dr. M Shahid Siddiqui (PhD), Follow via Twitter @shahidsiddiqui
