| Green Growth Strategy |
24 June 2024

RWANDA’S NEGOTIATORS ARE IN BONN PUSHING FOR CLIMATE FINANCE

Rwanda’s negotiators led by Mr. Faustin Munyazikwiye – Deputy Director General of the Rwanda Environment Management Authority (REMA) – are in Bonn, Germany for the June UN Climate Meetings, as 196 countries meet to agree on the New Collective Quantified Goal (NCQG), the new amount of funding which developed nations must mobilize every year starting in 2025 to support climate action in developing countries as floods, extreme rains, and brutal heat waves continue to ravage nations across the world.

In 2009, developed countries promised to provide $100 billion every year to developing countries to help them mitigate and adapt to climate change effects. But delays in achieving this goal eroded trust between developed and developing nations and have been a continual source of contention during annual climate negotiations.

A new report by the Organisation for Economic Co-operation and Development (OECD) said developed countries met the long-standing $100-billion-a-year promise in 2022.

However, 69 per cent of this was provided in the form of loans.

At COP21, in Paris, countries agreed to set a new collective quantified goal before 2025, taking into account the needs and priorities of developing countries.

Now, developed countries are expected to raise more than $100 billion, with developing countries demanding trillions of dollars to tackle climate change.

In Bonn, countries are still trying to determine what should be counted as climate finance, how big the overall amount should be, who will pay for it and over how many years, and who will receive the money.

The ongoing discussions which end on June 13, in Bonn will lay the roadmap to what will be agreed later this year at the 29th UN Climate Change Conference known as COP29.

Faustin Munyazikwiye, Rwanda’s lead negotiator in the UN Climate talks reminded that the discussions in Bonn are linked to the COP29 which will take place in Baku, Azerbaijan, in November 2024.

“The June UN meeting is like COP29 preparation. We are in discussions to draft proposals for COP29. We are also negotiating the goal of funding to replace the annual $100 billion target needed to help developing countries cope with climate change effects. We have to agree on standards to help measure how countries are building resilience to climate change effects. Countries must agree upon how to measure if we are really reducing greenhouse gases to limit global warming to 1.5-degree Celsius,” Munyazikwiye explained.

Countries also discussed carbon market rules for developing countries. This market enables climate polluters to fund projects that reduce carbon emissions in other countries, and they can then include these emission reductions in their climate targets while still emitting greenhouse gases.

The new goal of funding to developing countries is expected to be agreed upon during COP29. Marie Dalie Dukuze, a Rwandan negotiator explained that this is the reason why COP29 has been dubbed climate finance COP.

“As of now, developed countries and developing countries have not yet come up with a conclusion to the new goal in this Bonn conference. Developing countries want the money to come from developed countries while developed countries want to mobilise the funding from different sources such as rich nations, private sector, international organizations, and others,” she said.

Grace Ineza Umuhoza, another negotiator said discussions are also looking at proposals for the ‘Loss and Damage Fund’ to help developing countries recover from climate change effects such as floods and drought.

“The fund operations will be assessed during COP29 based on data and needs provided by each vulnerable country,” she said. The fund was established during COP29 in Dubai, 2023.

Vulnerable and poor countries, which did little to cause the climate crisis, want to hold the biggest fossil fuel-polluting countries liable for the pain and suffering they are experiencing from climate breakdown.

Rwanda’s negotiator, Honorine Isingizwe, is also following negotiations on sustainable climate resilient agriculture, that are centered on farmers and addressing food insecurity. It expected that in November during COP29 countries will agree upon the implementation road for what was previously concluded.

African group of negotiators

To get finance that enables developing countries to deal with the frequency of extreme weather events that leave the most vulnerable bearing the brunt of climate impacts, the Africa Group of Negotiators (AGN) are citing a figure of not less than $1.3 trillion per year by 2030.

They do not want climate financing in the form of loans as has happened in the past.

Ali Mohamed, the African Group of Negotiators Chair, said: “Our work as the AGN is to ensure that we get a progressive draft text that sends a signal that non debt inducing climate finance will flow to developing countries at the scale needed to drive non carbon intensive and climate resilient development.

“That trust can only be rebuilt if we come out of Bonn with a quantum that adequately covers the needs of the continent. The figure Africa is asking for from here as we head into COP29 is $1.3 trillion per year by 2030.”

Evans Njewa, the Chair of the Least Developed Countries Group, added: “We hope to agree that developed countries will provide climate financing that is based on science, is accessible and scaled up to meet the needs of developing countries.”

“At COP28 we got the establishment of a loss and damage fund which unlocked another phase of addressing the climate change shocks in Africa, and strengthening recovery for our communities. However, that is not enough. We hope developed countries agree to take responsibility in the mobilisation and provision of climate finance by prioritising the inclusion of loss and damage,” added Eva Peace, a member of the Loss and Damage Youth Coalition.

Whatsapp

Topics


More posts

06 September 2023

Africa Climate Summit | National Statement by President Kagame | Nairobi, 5 September 2023

First, I wish to thank President Ruto for hosting us in beautiful and vibrant Nairobi for the Africa Climate Summit, organized in collaboration with…

Read more →
29 June 2023

Strengthening Transparency in Climate Action: Rwanda's Progress under the Enhanced Transparency Framework

Climate change is a global challenge that requires urgent action. Rwanda, like many other countries, is experiencing the impacts of climate change,…

Read more →
09 June 2023

RWANDA LAUNCHES REVISED GREEN GROWTH AND CLIMATE RESILIENCE STRATEGY

Rwanda has on June 5, 2023 launched the Revised Green Growth and Climate Resilience Strategy as part of World Environment Day celebrations. The…

Read more →
27 May 2023

REMA LAUNCHES THE EVIDENCE-BASED CLIMATE REPORTING INITIATIVE TO ADVANCE CLIMATE RESEARCH AND REPORTING

The Rwanda Environment Management Authority (REMA) in collaboration with the African Institute of Mathematical Sciences (AIMS) have on May 19, 2023…

Read more →
10 May 2023

NATIONAL OZONE OFFICERS MEET IN KIGALI TO DISCUSS THE IMPLEMENTATION OF MONTREAL PROTOCOL AND ITS KIGALI AMENDMENT

The Rwanda Environment Management Authority (REMA) in collaboration with the United Nations Environment Programme (UNEP)’s OzonAction has organized a…

Read more →
08 May 2023

REMA OFFICIALLY LAUNCHES THE LPGS DONATED TO 20 SCHOOLS IN GREEN AMAYAGA PROJECT INTERVENTION AREA

The Minister of Environment, Dr. Jeanne d’Arc Mujawamariya has on 3rd May 2023 launched the use of Liquefied Petroleum Gas (LPG) for bulk cooking in…

Read more →
27 March 2023

The Rwanda Biodiversity Information System to Drive Climate Change Adaptation and Conservation was launched

The Center of Excellence in Biodiversity and Natural Resource Management at the University of Rwanda has launched the Rwanda Biodiversity Information…

Read more →
09 January 2023

Essential things to know about the loss and damage due to climate change

The evidence of both global and local climate change impact is beyond dispute. There are clear effects of climate change occurring all across the…

Read more →
09 January 2023

Why Women’s Consideration is a Key in battling climate change impacts?

The livelihoods of billions of people throughout the world are highly impacted by climate change, despite efforts to reduce its hazards. This is…

Read more →