Baku: UN Secretary-General António Guterres on Tuesday called for increased financial contributions to a fund aimed at supporting developing countries impacted by climate change. Guterres made this appeal during a high-level dialogue on loss and damage funding at the COP29 UN climate change conference in Baku, Azerbaijan. Emphasizing the urgency of the situation, Guterres stated, “In an era of climate extremes, loss and damage finance is a must. I urge governments to deliver. In the name of justice.”
According to News Agency of Nigeria, Guterres highlighted the growing dangers posed by climate change, noting that the world is becoming “hotter and more dangerous,” with climate disasters disproportionately affecting those who have contributed the least to the crisis. He criticized the fossil fuel industry for continuing to reap massive profits and subsidies while contributing significantly to environmental destruction.
Guterres described the creation of the Loss and Damage Fund as “a victory for developing co
untries, for multilateralism, and for justice,” but pointed out that its initial capitalisation of $700 million is insufficient to address the needs of vulnerable nations. He compared this figure to the annual earnings of the world’s 10 best-paid footballers, highlighting the disparity in funding required.
The UN chief urged nations to commit new finance to the Fund, and to develop innovative resources to meet the scale of need. He called for the implementation of solidarity levies on sectors such as shipping, aviation, and fossil fuel extraction, as well as a fair price on carbon. Guterres also stressed the importance of supporting Multilateral Development Banks to enhance their lending capacity for climate crisis response.
In addition, a new report presented by the UN refugee agency (UNHCR) at COP29 underscored the growing threat climate change poses to people already fleeing war, violence, and persecution. The report, titled “No Escape: On the Frontlines of Climate, Conflict and Displacement,” urged gove
rnments to take stronger action to reduce greenhouse gas emissions.
The UNHCR report revealed that of the more than 120 million forcibly displaced individuals worldwide, three-quarters reside in countries heavily impacted by rising emissions. Half of these displaced individuals are in regions affected by both conflict and severe climate hazards. The report predicts a rise in countries facing extreme climate-related hazards from three to 65 by 2040, with most hosting displaced people.
Filippo Grandi, the UN High Commissioner for Refugees, asserted that climate change is “a harsh reality” profoundly impacting the world’s most vulnerable populations. He emphasized that the climate crisis is exacerbating displacement in regions already burdened by conflict and insecurity.
At COP29, UNHCR called for increased climate finance to reach those most in need and urged states to protect forcibly displaced people from additional climate-related threats. The agency also advocated for including displaced individuals and
host communities in finance and policy decision-making processes.