Failure of Developed, Emerging Economies Deeply Disappointing

At the beginning of the 21st century, global efforts to limit temperature rise to 1.5°C hinged entirely on achieving net-zero emissions by 2050. Reaching this goal depends on ambitious emission reduction plans and implementing those plans requires sufficient investment.

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However, developed and emerging economies have still not submitted any concrete plans to reduce emissions. Moreover, along with investing in their own emission reduction, these countries do not seem to prioritize supporting others through financing either. Instead, their main priority now appears to be increasing military and security expenditures.

As a result, obtaining climate finance from public-sector sources is becoming increasingly difficult over time. Therefore, there is no alternative but for the global community to work collectively on alternative and innovative financing mechanisms.

In an interview with Mollah Amzad Hossain, Editor of Energy & Power, these remarks were made by Ziaul Haque, Additional Director General of the Department of Environment.

COP30 is about to begin in Belém, Brazil. Which issues are likely to get priority in this global negotiation?

The Nationally Determined Contributions (NDCs) — countries' pledges to reduce carbon emissions — will be a top priority at the Belém COP. However, the recently published Synthesis Report paints a rather disappointing picture.

After reviewing 64 NDCs, the report concluded that even if all are fully implemented, global emissions will only decline by 17% by 2035 compared to 2019 levels. Yet, achieving net-zero requires a 60% reduction over that same period. While the world is falling behind on the 1.5°C target, major players such as the European Union, China, and India have not yet submitted their updated NDCs. This is extremely disappointing, but NDCs will still remain at the center of discussions.

It is also expected that the Global Goal on Adaptation (GGA) will be finalized at Belém. However, ensuring that 50% of climate finance is allocated to adaptation, as developing countries have long demanded, will be difficult, given the uncertain stance of developed countries.