79th UNGA/Summit of the Future: Climate finance commitments can no longer be postponed – Pres Ali to world leaders

… says US$90B in global finance needed by 2030 for social safety net

With as much as US$90 billion in global finance needed by 2030; to provide for social safety nets in countries, particularly those vulnerable to climate change, President Dr. Irfaan Ali on Monday made an urgent call for global action on climate finance while addressing the Summit of the Future.
During his address at the summit, which is being held in New York and is being hosted by the United Nations (UN) at its 79th General Assembly, President Ali listed important prerequisites for achieving the 2030 agenda. The 2030 Agenda for Sustainable Development was adopted since 2015 and for some time there has been criticism on the global stage that enough is not being done to achieve the 17 goals set out.

“Meeting the climate finance commitments can no longer be postponed. Forests are an integral part of the climate solution and it is time that the global market-based mechanism for carbon credit, be put in place,” President Ali said in a stark warning.
More than 80 per cent of Guyana’s 18 million hectares of forests are estimated to store approximately 20 billion tonnes of carbon dioxide equivalent and the country continues to be carbon negative, even while producing oil.
In December 2022, Guyana signed a historic contract with Hess Corporation for the sale of 33.7 million of its high-quality certified carbon credits – a deal that saw the nation earning US$750 million for just 30 per cent of its forest.
In the agreement, a rate of US$15 per tonne of carbon was secured and the Guyana Government had allocated 15 per cent ($4.7 billion) towards Amerindian development. This was subsequently raised to 24 per cent by the government this year.

Food security
President Ali also warned about global food security, which he noted continues to deteriorate at an alarming rate. According to him, it is estimated that $90 billion in financing will be needed between now and 2030, to ensure that countries have a basic social safety net.

“If we’re not able to meet the basic needs of feeding our people, the entire agenda 2030 is in peril. It is our collective responsibility to provide the $300 to $500 billion needed to transform our global food system. Technology transfer, insurance for farmers, access to finance and fair-trade rules, are all part of the solutions,” President Ali noted.
“As we seek to create a fair and just world, we must focus on including all our people, no region, country or group must be left behind. We must do more, so that our women and youth are integral in all our decisions. The future we envision must target directly the 340 million women and girls projected to live in poverty by 2030.”
According to Ali, they must also address the 110 million women and girls who will be unable to attain an education by 2030, as well as the 24 per cent of women and girls who will be food insecure and the 245 million women and girls projected to experience gender-based violence by 2030.
“The sustainable future we build must be the means and aspirations of the 1.3 million additional youths the world will have by 2030, ensuring sustainable development in which access to education, health and housing must be provided. We must define an implementation plan for the future, to address the challenges in building a life of dignity for every global citizen,” President Ali said.

SDG’s
The Sustainable Development Goals (SDG’s) are a global call to action to end poverty, protect the earth’s environment, and ensure that people everywhere can enjoy peace and prosperity. They include; Goal 1- No poverty; Goal 2- ending hunger; Goal 3- Good health and wellbeing; Goal 4; quality education; Goal 5- gender equality; Goal 6 – Potable Water, Water Sanitation and Harvesting Water; Goal 7 – Renewable Energy and Access to Energy; Goal 8; decent work and economic growth and Goal 9 – Infrastructure Industry and Innovation.
Meanwhile, the other goals are; Goal 10- reducing inequalities; Goal 11 – sustainable cities and municipalities; Goal 12- Responsible consumption and production; Goal 13- ensuring action is taken on climate change; Goal 14- conservation and sustainable use of the ocean; Goal 15- conservation and sustainable use of resources on land; Goal 16- Peace, justice, and strong institutions, and Goal 17-strengthening global partnerships for the implementation of the SDGs.
When it comes to energy security, President Ali noted that this must be built on a platform of equity and access to technology. He urged the world to be unified when it comes to addressing the digital divide.
And while he described Artificial Intelligence (AI) as a potentially positive game changer for humanity, he also warned of its potential to widen the gap between countries and people. According to him, strategic planning is needed to ensure AI becomes a force for good.
“To do all of this, our public policies and global strategies must be aligned and our global institutions responsive. Outdated and broken global systems must be fixed. We must reform the international financial architecture, and make it more inclusive and conducive for sustainable development for all,” President Ali further said.
Following his address at the summit, President Ali will also be addressing the UN general debate on Wednesday, September 25. He will also take part in bilateral meetings with the President of Paraguay, Santiago Peña, Ecuadorian President, Daniel Noboa, United States (US) Secretary of State, Antony Blinken; Secretary-General of the UN, António Guterres; the Director General of the World Trade Organisation (WHO), Dr. Ngozi Okonjo-Iweala; and United States Agency for International Development (USAID) Administrator, Samantha Power, among others. (G3)