The balance of the first week of the Conference of the Parties on Climate Change (COP 27) tested positive for Colombia. This was confirmed by the Minister of Environment and Sustainable DevelopmentSusanna Muhammad, who also indicated that on behalf of the country it was possible to make a “vehemently called” to the world by proposing four key points for negotiations.
(See: A billionaire emits a million times more CO2 than anyone else.).
According to the portfolio manager, the parties relied on the inclusion of losses and damages, the recognition of the non-use of fossil fuels over time, the reconstruction of the international financial system and the cancellation on a scale of debt for climate action.
“The balance of this first week is very positive, the issue of losses and damages officially entered a negotiation for the first time in history. This means that the Convention begins to recognize that this is not just about mitigating the effects of climate change, nor about adapting, but that it goes much further.”, said the minister.
(See: Colombia would lose $4.3 billion a year due to climate change).
In terms of losses and damages, in recent days Minister Muhamad revealed the number of losses that Colombia could suffer per year, data that was positioned in $4.3 billion.
In turn, he expressed that it should be hCreate a specific fund that responds to climate catastrophes like the ones that Colombia is going through, For example, the situations presented over the weekend in Bogotá and the landslide located via La Calera, events for which President Petro called his cabinet of ministers to a meeting to assess the ravages of the rainy season.
In the same way, in Egypt, the country where COP 27 is being held, the portfolio leader pointed out that for the recognition of the non-use of fossil fuels, a globally agreed planned transition must be made, and in addition, he highlighted the proposal led by President Gustavo Petro, to make a significant debt forgiveness for climate action and achieve effective financing.
(See: The origin of the US$200 million for the Amazon that Petro promised).
“We are also talking about promoting a structural reform of the financial system because this is not just about the money that developed countries must put up to meet their commitments in the Paris Agreement. The scale of the problem will require deep financing and this implies a restructuring of the current form of international financingMuhammad said.
Similarly, in the forum of the newspaper The New York Times, The minister said that within the COP 27 They are proposing that climate change cannot be financed with debt, since the economic situation is going to remove capacity for action. “We are forming a block of several countries to define what percentage of the foreign debt of developing countries could be canceled next year”, he pointed out.
The Minister of Environment and Sustainable Development of Colombia, Susana Muhamad.
In the midst of COP 27, the document updating the Bilateral Cooperation Alliance between the United Kingdom and Colombia on Sustainable Growth was signed.
The strengthening of this alliance refers to 2019, which has allowed the implementation of programs such as Sustainable Forest Territories (Tefos), with a contribution of more than 60 million pounds for Colombia.
(See: Minambiente proposes to strengthen the bioeconomy: how it would work).
By 2022, an additional £7.8m was earmarked for enabling activities and pilot projects focused on climate action.
Colombia is consolidated as a strategic ally for the United Kingdom in the region for environmental issues.
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