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Climate Ambition Summit: 'Glaring gap' in support for Global South

Daniel Jukes/ActionAid
Climate pledges announced the Climate Ambition Summit, co-hosted by the UN and the UK on the fifth anniversary of the Paris Agreement, overlook the devastating loss and damage already being caused by the climate crisis.
It comes as new analysis by ActionAid finds that by ending G7 fossil fuel subsides by 2026 could create $101 billion to support the world’s poorest countries recover and build resilience to climate disasters.
Harjeet Singh, global climate lead at ActionAid International, says:
“Dismal levels of new support for developing countries to adapt and recover from climate disasters is a glaring gap in the announcements at the ambition summit. ....

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Ending G7 fossil fuel subsidies could generate $101bn to offset climate damages in the Global South by 2026

Nora Awolowo
New analysis by ActionAid International and The Robin Hood Tax Campaign
ActionAid International and The Robin Hood Tax Campaign are today (12 December) calling on G7 countries to make good on their commitment – enshrined in Article 8 of the Paris Agreement – to provide finance to support the world’s poorest countries to recover from the damage caused by the climate crisis.
The organisations argue that G7 countries can make significant strides in funding to tackle loss and damage by accelerating reductions in fossil fuel subsidies and redirecting support from polluting industries into a new ‘Climate Damages Fund’.
The new analysis comes as the UN and UK co-host today’s online Climate Ambition Summit on the fifth anniversary of the Paris Agreement. ....

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