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What to read into last week’s Biden #climate summit? That was the question posed to a panel I chaired earlier today with @laurencetubiana @tasneemessop @johnpodesta @cfigueres…
…notes below
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…notes below
“Most of the G7 are looking at 50% GHG cuts by 2030” said @cfigueres… her top 3 takeaways are:
-2030 is the new 2050
-1.5C is the new 2C
-Coal is the new asbestos
-2030 is the new 2050
-1.5C is the new 2C
-Coal is the new asbestos
Coal is the & #39;pariah& #39; of fossil fuels added Figueres, but stressed & #39;the missing piece is finance& #39; for big emitting developing countries who want to pivot to solar, wind
For @laurencetubiana last week sent a ‘strong signal’ the US is back… but she stressed the focus now is on the integrity of national and business commitments, and an uptick in #climate finance from major donors pre @G7 in June
G7 will be a very important venue for debt, finance, vaccine solidarity, Tubiana said - cost of access to capital for developing countries very high – too high to develop the green transition.
As chief of a coalition of 1000+ NGOs in the #climate space, @tasneemessop’s focus was on solidarity and support. Pre #COP26 “Vaccine solidarity is going to be important,” she said – adding we need to de-toxify loss & damage and accept it’s happening now, everywhere
Finance will be *the* test for #COP26 said Essop, citing lack of delivering from big donors on $100bn promise. "There is no track record for trust" she said.
Former White House chief of staff @johnpodesta said Biden passed the credibility test the summit posed, with 50-52% NDC + 100% clean power by 2035 strong goals but “was expecting more on finance” – citing US GCF + 2024 pledges.
But with #COP26 looming, the real US *win* will be if Biden gets his $2 trillion plan through Congress, Podesta added. If the administration lands that package, it arrives in Glasgow with a strong domestic story & platform
Thanks to all the panel for a good discussion & debate. DM me if you want a recording.
