COP26: UN defends billions in financial aid for countries like Brazil

RIO DE JANEIRO, BRAZIL – Promised in 2015, during the COP21 in Paris, the annual funding of 100 billion dollars to developing countries to facilitate the environmental transition and reduce emissions of pollutants, never left the paper.

At the time, the group of wealthy nations, including the United States, France, Spain, and Sweden, pledged to donate the annual amount until 2020 to collaborate to mitigate the impacts of climate change and investments in renewable energy.

On Monday, (1), in Glasgow, António Guterres, Secretary-General of the United Nations, reinforced the promise’s importance. “The implementation of the financing of US$100 billion per year for poor and developing countries is crucial,” he said during his speech at the opening ceremony of COP26.

Regarding rumors that this aid may not arrive until 2023, Guterres said the delay would hamper support for countries in the environmental transition for years to come.

In a less optimistic tone than other leaders attending COP26, Guterres called attention to the lack of action to halt the advance of climate change. “We should be saving the future of humanity and not continue to use fossil fuels as we are doing.

Responsible for 30% of the world’s greenhouse gas emissions, China has recently increased its use of coal for power generation.

The world’s largest coal producer, the country authorized the opening of more than 150 mines in September to increase production capacity by 220 million tons per year and escape the high global prices for natural gas.

With the world economic recovery, natural gas prices skyrocketed, and the operation of many hydroelectric plants was suspended, which also affected China.

The United States is considered the second-largest emitter of CO2 in the world (5.7 billion tons of cubic meters per year, 11% of the world total), followed by India (6.6%) and the European Union (6.4%). Brazil emits 1.5 billion tons a year, behind countries like Saudi Arabia, one of the largest oil producers in the world, and Russia.

According to the scientific community, emissions must be reduced by 45% by 2030, compared to 2010, for the global temperature not to increase more than 1.5 degrees Celsius over pre-industrial levels.