Wednesday, November 30, 2022

COP27 must hold developed world accountable for failed pledges – VP Jagdeo

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COP27 which is billed for Sharm el-Sheikh, Egypt from November 6 to 18, must hold the developed world accountable for their failed promises on financing for adaptation and emissions reduction says Guyana’s Vice President, Dr. Bharrat Jagdeo.

The former Head-of-State said the developed world which includes the USA, Europe and China can no longer lecture developing states like Guyana about the need to reduce their carbon footprint.

He underscored that it is high time these nations be called upon to practice what they preach.

Jagdeo said much of the debate leading up to COP27, was centred on its effectiveness in light of failed actions since the previous COP held in Glasgow, Scotland.

“…We’ve had a downright reversal of commitments to targets much to the detriment of the climate. Countries that led the fight to ban coal and branded it as the dirtiest of fossil fuels have actually restarted coal-fired power plants in their countries,” expressed VP Jagdeo.

With return of coal-fired power, natural gas more important now than ever | OilNOW

International reports note for example that Germany, Austria, France and the Netherlands have all announced plans in July to reactivate coal-fired power plants amid an energy crisis created by Russia’s invasion of Ukraine.

These nations even passed legislation to support the increased use of coal. Germany for example passed emergency legislation to allow around eight gigawatts of coal-fired power to be reactivated during times when gas supplies are critically low.

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The Netherlands, meanwhile, has amended legislation to allow coal plants to run at full capacity until the end of 2023, and France and Austria are both planning to reopen coal-fired power units.

They are among the countries scrambling to fill their gas storage facilities ahead of winter, with the looming prospect that gas imports from Russia could end at any time.

VP Jagdeo also said the world has witnessed instances where countries that lobbied for there to be no new investment in oil and gas for fear assets may become stranded, are now singing a different tune.

“Those countries are now urging the oil producers to produce even more. In fact, some of the producers were threatened by the United States of America because they wanted to cut production, namely, Saudi Arabia,” expressed Jagdeo.

In light of the foregoing, Dr. Jagdeo said the developed world therefore cannot keep lecturing developing states about sustainability and meeting targets on one hand but failing to do the same on the other hand.

He said COP27 must therefore be about accountability and providing a clear roadmap on how vulnerable Caribbean Community (CARICOM) and African states will be provided with the funding needed for climate mitigation.

While he would not be in attendance, Jagdeo said Natural Resources Minister, Vickram Bharrat, would be representing Guyana at the event. There, Minister Bharrat is expected to clearly articulate the country’s position in being in solidarity with affected States while advancing national interests such as payment for forests services.

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