10 July 2009
The G8 squandered the opportunity this week to put their money where their mouths are and deliver climate finance for poor countries to help in their response to climate change, Tearfund said today.
Following yesterday’s announcement, Tearfund now looks towards the G20 talks in September when the heads of state meet again, to see if they will respond to the challenge laid down by The Major Economies Forum to Finance Ministers to return to the G20 with finance proposals to support developing countries in responding to climate change.
Paul Cook, Director of Advocacy for Tearfund, said, ‘A massive opportunity to show leadership and ambition has been missed here. Adequate finance is the sticking point currently deadlocking negotiations and this week the group failed to recognize this.’
Christian relief and development agency Tearfund welcomes the commitment to 80 per cent cuts in carbon emissions by 2050 for rich countries, as a welcome indication of what can be achieved when leadership and ambition is demonstrated.
Tearfund also welcomed the reference to the need to keep global temperature rises below two degrees.
‘However, ambitious goals for 2020 emissions targets have sunk without trace and the financial bone of contention still remains,’ says Cook.
‘Without money that needs to be in the range of $150bn per year on the table for financing mitigation, adaptation and technology, the danger of climate negotiation deadlock still remains.
‘Rich nations must do better at the G20 Summit in September.’
G8 leaders were urged to sign up to a Global Framework for Action to reverse the current water and sanitation crisis that sees 1 in 8 people go without clean water and 2.5 billion without a decent toilet.
‘Instead of seizing the moment to deliver what was a simple ask, nice words were presented and a vague reference to a plan of action by the end of the year,’ Paul Cook states.
‘It’s inconceivable that these leaders can walk away from addressing such an appalling injustice. They cannot blame the financial crisis for this, as money was not asked for; just political will.
‘Unfortunately, what we have seen this week is a shocking abdication of leadership at a time when the G8, in the midst of a global economic crisis, were desperately needed to put their own interests aside and focus more on those who have never known anything else other than financial hardship,’ Cook concluded.