BAKU, Azerbaijan, April 29. Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Simon Stiell said at a meeting of G7 environment ministers in Turin, Italy, that there is no reason why the G7 states cannot work together to make bolder strides in global climate negotiations, Trend reports.
"The G7 can lead the way in major emissions reductions while both increasing and improving climate funding. This is important if we want to avert a global economic catastrophe," Stiell stated.
Meanwhile, this is the first major G7 climate meeting since the COP28 negotiations in Dubai in 2023.
The UN believes that emissions need to be cut almost in half in the current decade to maintain the global warming limit of 1.5 degrees Celsius.
To note, at COP28 in Dubai, countries agreed to triple global renewable energy capacity this decade and transition away from fossil fuels, but the agreement lacked important financing details.
Stiell urged G7 environment ministers to lean on their fellow finance ministers to see "a quantum leap in climate finance as a core business."
"Difficult financial conditions are not an acceptable justification for failing to deliver significant additional public climate funding commitments," he noted.
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