Tag: New Collective Quantified Goal (NCQG)

Global concerns escalate as India grapples with severe heatwaves BONN, Germany: The 60th session of the Subsidiary Bodies (SB60) to the United Nations Climate Change Conference (UNFCCC), commonly known as the 'Bonn climate talks,' has drawn attention to the alarming heatwaves engulfing India, where temperatures have soared to a blistering 50 degrees Celsius. Experts at the conference underscored that these extreme weather events are exacerbating due to the escalating effects of climate change, with global temperatures already surpassing pre-industrial levels by a degree. Addressing the urgent need for action, delegates emphasised the significance of adhering to the 2015 Paris Agreement goal of limiting global warming to 1.5 degrees Celsius. Negotiations focused particularly on crucial aspects of the New Collective Quantified Goal (NCQG), with a spotlight on climate finance—an issue of paramount importance for vulnerable nations like India. Trishant Dev, Programme Officer at the Centre for Science and Environment (CSE), stressed the necessity of fulfilling the long-standing commitment of $100 billion in climate finance, urging for the establishment of new goals to address escalating climate disasters. “One of the topline discussions at Bonn is climate finance and it has always remained a concern for developing countries like India. The $100 billion promised over a decade ago to be fulfilled, and this year a new goal must be set,” he stated. Similarly, Ashwini Hingne from the World Resources Institute (WRI) highlighted the criticality of climate finance and carbon markets, emphasising the need for predictability, effectiveness, and accessibility in financing mechanisms. “Climate finance and carbon markets are top issues this year. Availability of finance is critical for meeting both mitigation as well as adaptation needs of developing countries but there is a need to ensure that climate finance is predictable, effective, accessible and doesn’t burden developing countries with more debt. Therefore, on the New Collective Quantified Goal (NCQG), important issues of quantity, quality timelines and transparency in tracking of financing will need to be decided.” The World Weather Attribution (WWA) report revealed that climate change amplified this year's heatwave in Asia by one degree Celsius, resulting in devastating consequences across the region, including India. The lack of standardised methods for confirming heat-related mortalities has led to underreporting, exacerbating the severity of the situation. Mohamed Adow, Director of Climate at Power Shift Africa, urged global leaders to heed the alarming signals emanating from the heatwaves, stressing the urgency for decisive action at the UN climate talks in Bonn and the upcoming COP29 summit in Baku. He stated that the impacts of extreme weather disproportionately affect the most vulnerable populations, necessitating immediate and concerted efforts to mitigate climate change.

Global concerns escalate as India grapples with severe heatwaves

BONN, Germany: The 60th session of the Subsidiary Bodies (SB60) to the United Nations Climate…