The G-77/China bloc reiterated its call for $1.3 trillion in annual climate finance, with a focus on grants and concessional financing to avoid overburdening vulnerable economies already struggling with climate change. the impacts of climate change.
“Loans represent almost 70% of climate finance provided so far. This is unacceptable and puts excessive pressure on developing economies,” said an Indian negotiator, urging developed countries to move away from climate change mechanisms. debt.
UN Executive Secretary Simon Stiell added to the urgency, urging G20 countries to take bolder action, warning that without it, no economy in the group would be spared from climate-related economic losses.
