With less than two months left in his presidency, President George M. Weah has stressed the need for the developing of new initiatives for emission reduction, and significantly increase financial pledges for United Nations climate financing initiatives.
The Liberian leader, speaking Saturday at the UN Conference on Climate Change known as COP 28 in Dubai, U.A.E, also called for a fundamental shift in the approach to climate investments, particularly from major greenhouse gas-emitting countries.
“And it is time that these nations must develop new initiatives for emission reduction and significantly increase financial pledges for United Nations climate financing initiatives,” he said.
The outgoing Liberian leader, during the start of his address, acknowledged the unprecedented challenges the world faces due to climate change, citing record-breaking heat, droughts, flooding, among others, that have occurred with increasing frequency in 2023.
This, he intoned, “Today, let me reiterate that major greenhouse gas emitting countries will need to develop new initiatives for emission reduction, and not only fulfill – but significantly increase – the financial pledges that they have previously made for funding United Nations climate financing initiatives.
Care should be taken to overhaul and regulate carbon credit, financing mechanisms to ensure more transparency and accountability, so that they are not used merely as an avenue for high emitters to avoid responsibility for reducing emissions.”
According to him, the need for a candid assessment of the progress made under the 2015 Paris Agreement can never be overemphasized, stressing that the climate shocks experienced in 2023 serve as both a wake-up call and a call to action.
He admonished all countries present at COP 28 to adopt a more realistic agenda, implement concrete actions, and increase financial commitments to combat the climate emergency effectively.
The President also addressed the need to overhaul and regulate carbon credit financing mechanisms to ensure transparency and accountability, warning against misuse of these mechanisms as an avenue for high emitters to evade responsibility for reducing emissions.
Speaking on the vulnerability of nations like Liberia to the impacts of global warming, Weah added the importance of increased financial support for adaptation and mitigation, calling for urgent consideration of compensation for the loss and damage already inflicted by climate change.
