The following is based on remarks delivered at the inauguration of the Climate Finance Center for the Global South in Belem do Para on July 9, 2024. The full text can be found here.
In my mind, such a center can help investigate four big problems.
First, the Global South is bearing the brunt of today’s major environmental challenges. Climate change and greenhouse gas emissions are only one part of the problem. In addition, the world confronts the reality of rising sea levels, more severe tropical storms, eroding biodiversity, recurrent heatwaves, plastic pollution, and water scarcity. A holistic approach to environmental challenges is needed.
Second, agreements on climate have not delivered enough. There have been only vague commitments on net zero, including at successive COP meetings without the necessary accountability. When tangible commitments are taken into consideration, climate finance efforts have not reflected the scale and urgency of the challenge.
Third, in what in some ways is good news, the technology to facilitate a global energy transition is now available and plentiful. But the Global South is at the back of the queue, and will be among the last to benefit from breakthroughs in renewable and other clean energy technologies.
Fourth, adaptation has taken a back seat. We know that climate change is a reality, but sustainable cooling, disaster resilient infrastructure, early warning systems, drought resistant crops, and desalination efforts are among the adaptation technologies that have not received sufficient attention or financing from established players in the Global North.