Cycling enthusiasts and ordinary people joined climate campaigners in 49 coordinated biking events in nine Asian countries as the COP27 climate summit began Sunday in Egypt.
CYCLING enthusiasts and ordinary people joined climate campaigners in 49 coordinated biking events in nineCOP27 is being held at the Red Sea resort of Sharm el-Sheikh from November 6 to 18. Pedal for People and Planet was held in the Philippines, Indonesia, Malaysia, Vietnam, Japan, Bangladesh, India, Pakistan and Nepal.
Nacpil said the fulfillment of climate finance obligations is part of reparations. The UN Framework Convention on Climate Change—a legally binding agreement that is the basis of the climate summit that is about to start in Egypt—specifies that developed country governments must provide climate finance to developing countries in recognition that developed countries have contributed the most to the problem of climate change.
“This 100-billion climate finance goal is miniscule, considering that the estimated climate finance needed between now and 2030 is at least $11 trillion. But rich countries are not even fulfilling their promise of this ridiculously low amount. They are spending several times more on subsidies for fossil fuels,” said Nacpil.
This year’s summit will also see negotiations regarding some points that remained inconclusive after COP26 in Glasgow, including “loss and damage” financing.
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