INFO: July Climate Ministerial (25th-26th) and COP 26 Expectations
Yesterday (July 16th), COP26 President Alok Sharma released details on the July Ministerial that will take place from July 25th - 26th, at the The ministerial will take place at the Park Plaza in London, over the 25th and 26th July. The Letter also outlines current expectations for COP26. More information is in the attached letter, and email below.
Topics of the ministerial include:
- Keeping 1.5 alive;
- Scaling up adaptation;
- Loss and Damage;
- Article 6 (carbon and non-carbon markets);
- Mobilising finance.
The plans for climate finance during the Ministerial are as follows:
Finance is crucial for ambitious climate action and COP26 marks a critical juncture. Delivering on the $100 billion goal is of the utmost importance. Securing new and enhanced climate finance commitments - including for adaptation - has been a focus of the UK’s COP26 and G7 presidencies. Parties have raised the need for developed countries to build confidence ahead of COP26 that the annual $100bn goal will be met through to 2025. We have heard calls to consider progress towards the goal at COP26, and to address gaps in the quantity, predictability, transparency, accessibility, effectiveness, and composition of climate finance, taking into account the needs and priorities of developing countries. Many have highlighted that the economy-wide transformation required by the Paris Agreement involves all types of finance, and that Parties also need to consider what is needed to achieve the broader
consistency of finance flows with a pathway towards the Paris goals. We have heard that Parties need to agree a timeline and process, with milestones, for setting the new collective quantified (post-2025) goal and that these should articulate the questions that need to be addressed in defining the goal.
July Ministerial discussion questions - mobilising finance
● How can confidence be built that the $100bn/yr goal will be delivered through to 2025?● What key questions do Ministers consider need to be addressed in Parties' deliberations on the new collective quantified (post-2025) goal, and what should the key components of the process to be agreed at COP26 be?
Countries invited to attend:
Antigua & Barbuda, Argentina, Australia, Bangladesh, Barbados, Belize, Bhutan, Bolivia, Brazil, Canada, Chile, China, Colombia, Costa Rica, Cuba, Denmark, DRC, Ecuador, Egypt, Ethiopia, European Commission, Fiji, France, Gabon, Germany, Grenada, Guinea, India, Indonesia, Italy, Jamaica, Japan, Kenya, Marshall Islands, Mexico, Morocco, New Zealand, Norway, Pakistan, Papua New Guinea, Peru, Poland, Russia, Rwanda, Saudi Arabia, Singapore, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Turkey, UAE, USA + UK as COP26 Presidency.
If anyone else has any further information to share on the Ministerial, please do share. Eurodad does not have the capacity to carry-out advocacy on the Ministerial. Please do share any plans you might have for the Ministerial.