Time running out to avert climate catastrophe — UN

Despite some strides, the UN’s climate chief warned that humanity remains on track for a “ruinously high” rise in global temperature. 

This stark message came as crucial climate negotiations kicked off in Bonn, Germany.

The annual Bonn talks serve as a crucial stepping stone for year-end climate summits (COP). This year’s discussions, running until June 13th, focus on financing. 

The key issue: how much wealthier nations should contribute to help developing countries cope with climate change. 

A new, long-term goal for climate aid is targeted for agreement at the November COP29 summit in Baku, Azerbaijan.

UN climate chief Simon Stiell urged negotiators to maximize efficiency: “We cannot afford to reach Baku with too much work still to do.”

While international efforts prevented a catastrophic five-degree warming scenario, Stiell cautioned that the current trajectory of 2.7 degrees is still “ruinously high.”

The 2015 Paris Agreement aimed to limit warming to “well below” 2 degrees Celsius, ideally reaching a safer 1.5-degree cap. 

Incoming COP29 president Mukhtar Babayev emphasized the importance of progress at Bonn: “the foundation stones of tangible results at COP29.”

Financing also remains a major hurdle. Developed nations pledged $100 billion annually by 2020 to support clean energy and climate adaptation efforts in developing countries. 

This target was only met in 2022, with criticisms regarding the use of loans instead of grants. 

The next round of financial pledges extends beyond 2025, but key questions remain: how much,who pays, and where does it go first?

Disagreements persist, with some nations pushing for contributions from prosperous emerging economies like China and Gulf nations. 

Others tie their climate action commitments to the amount of financial assistance they receive. Countries are expected to submit updated climate plans by early 2025.

The Bonn talks highlight the urgent need for international cooperation and an increase in ambition. With millions of lives at stake, bridging the gap between progress and necessity remains a critical challenge for global climate action.

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