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The Star
3 days ago
- Business
- The Star
Brics approves climate finance framework, crafting joint stance for first time
The Brics economic bloc approved its first joint climate finance framework on Thursday, the group's most coordinated effort to date on funding climate action and setting the stage for a shared position – a first for the group – ahead of Cop30 in Brazil. The nonbinding framework – agreed during a high-level meeting on climate change and sustainable development – outlines Brics priorities including the reform of multilateral development banks, the scaling up of concessional finance and the mobilising of private capital to support climate efforts in the Global South. The document will be submitted to Brics heads of state at their July meeting. Cop30, the 30th session of the Conference of the Parties, the latest United Nations climate change summit, is scheduled for November in Belem, Brazil. 'For the first time, there will be a document that guides a common and collective Brics action in the area of climate finance – involving, for example, reforms of multilateral banks, more concessional finance, and also the mobilisation of private capital and regulatory matters to ensure that flows can reach developing countries,' said Tatiana Rosito, the international affairs secretary at Brazil's finance ministry. In a statement, the Brazilian presidency said that the bloc's latest climate effort reflected a shift from defensive posturing to proactive coordination in international negotiations. Although this marks Brics' first formal initiative as a negotiations bloc on climate finance, its core members – Brazil, Russia, India, China and South Africa – have coordinated informally for years. Their climate diplomacy began through what was originally called the Basic group, which has worked jointly since the 1990s to defend the principle of 'common but differentiated responsibilities' in global negotiations. Brics' climate ambitions intensified with the 2024 Kazan Declaration, which analysts described as the farthest-reaching statement the bloc has yet produced. It placed the Paris Agreement at the centre of its strategy, rejected unilateral trade measures taken under the guise of environmental policy, and linked sustainability to development and equity. 'The framework declaration on climate finance was approved at the vice-ministerial level and will be taken to the heads of state,' said Liliam Chagas, director of climate at Brazil's Ministry of Foreign Affairs. 'Brics bringing its perspective as major developing countries of the Global South is very important and will help us with outcomes by the end of the year.' The framework feeds into Brazil's flagship goal for Cop30, called 'Road Map Baku-Belem', which aims to mobilise US$1.3 trillion in climate finance for developing countries by 2035. While the Brics document will not be part of formal talks under the UN climate process, officials say it could help build consensus and overcome deadlocks. 'Financing is one of the central issues – at Cop29 and again for Cop30 – especially in the shape of the Road Map Baku-Belem,' Rosito said. 'Even if it is not a negotiation document, it can very well help to unlock negotiations and push climate action forward.' Among the proposals is Brazil's planned Tropical Forests Forever Fund, a financing mechanism developed during its Group of 20 presidency and expected to launch at Cop30. It aims to attract private investment into forest conservation, offering returns instead of requesting direct contributions. 'This is an initiative that fits well as an innovative mechanism for private capital mobilisation,' Rosito said. 'With the financial model being designed, [we] could leverage resources four to five times over ... and the countries that conserve their forests would receive funds for not deforesting.' Beyond financing, the Brics meeting produced agreements to facilitate the use of climate-related patents, establish a joint platform for research and development and create a new Brics laboratory to assess how climate policies abroad might affect member economies. 'These countries will have a space to understand the impact of trade measures that might affect their exports,' Chagas said. She added that a separate agreement on carbon accounting would let Brics countries better track emissions linked to specific goods and industries, helping them evaluate how environmental standards might influence trade flows, import-export dynamics and broader economic activity.
Libya Review
3 days ago
- Politics
- Libya Review
Libya Joins UN Anti-Crime Meeting in Vienna
Libya joins UN meeting to boost international cooperation against organized crime, corruption, and money laundering Libya took part in the 16th session of the UN Working Group on Technical Assistance and International Cooperation, held in Vienna, Austria, from 26 to 30 May 2025, as part of the Conference of the Parties to the United Nations Convention against Transnational Organized Crime. Libya was represented by Ibrahim Ali, Head of the Expert Committee for Reviewing the Convention and Director of the Office for Anti-Money Laundering and Asset Recovery. The meeting brought together experts from around the world to address a range of critical topics, including the criminalization of organized fraud, management of illicit proceeds, witness and victim protection, and monitoring the implementation of the convention. Delegates also explored ways to enhance international cooperation in tracking down criminal networks exploiting corruption. A particular focus was placed on the emerging threats of cybercrime and virtual currencies, anti-money laundering efforts, and the nexus between organized crime and terrorism. Participants shared best practices and technical solutions to confront these evolving challenges. The session also reviewed the technical assistance needs of state parties during the review process of the Convention and its Protocols. It issued key recommendations to the Conference of the Parties on how to support the treaty's implementation globally. Libya's active participation, led by Ibrahim Ali, reflects its commitment to engaging with the international community, fulfilling its obligations under international law, and intensifying efforts to combat organized crime, recover stolen assets, and uphold the rule of law. Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations. Libya's economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya's economy. The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions. The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition. Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges. Tags: libyaMoney LaunderingunUnited NationsUNODCVienna
Hindustan Times
5 days ago
- Science
- Hindustan Times
Mainstreaming ecosystem-based adaptation in India
Ecosystem-based adaptation (EbA), recognised for its cost-effective and co-beneficial advantages, is seeing a global uptake. However, the number and scale of EbA projects remain limited compared to the opportunities offered by India's diverse ecosystems and indigenous practices. While lack of funding is a direct cause, the small scale of existing EbA projects also fails to attract funding. Breaking this cycle requires addressing other mechanisms that hinder EbA's growth. This brief explores India's potential and identifies key challenges to scaling up EbA. Ecosystem-based adaptation (EbA), which is part of the broader nature-based solutions (NbS) approach, was defined by the 15th Convention on Biological Diversity (CBD) Conference of the Parties (COP) in 2009 as 'the use of biodiversity and ecosystem services as part of an overall adaptation strategy to help people adapt to the adverse effects of climate change.' The EbA approach aims to enhance resilience by acknowledging the interconnectedness of ecosystem health and human well-being while integrating traditional adaptation methods. It addresses sustainable development goals, climate adaptation and mitigation needs, human rights and well-being, nature conservation, and biodiversity preservation. These co-benefits contribute to its cost-effectiveness compared to engineering-based solutions. Evidence strongly supports this. An overall analysis of the literature shows that NbS and EbA are more cost-effective than engineering-based solutions while still effectively mitigating hazards. Approximately 65% of the studies, most of them in developing countries, indicate that EbA interventions are more effective overall and in specific scenarios. Multiple cost-benefit analysis methods, such as net present value, internal rate of return, and benefit-cost ratio, have been used to assess EbA's socio-economic value. This scientific support, along with advocacy from international organisations like the Global Adaptation Commission and IPCC AR6 report, has promoted the integration of EbA into National Adaptation Plans. Despite this momentum, EbA's growth in India has been slow, even though India's diverse ecosystems, adaptation needs, and indigenous practices provide a basis for EbA projects. To advance EbA in India, its alignment with the nation's goals and challenges must be further explored. This paper can be accessed here. This paper is authored by Diya Shah, ORF, New Delhi.
Saudi Gazette
26-05-2025
- Politics
- Saudi Gazette
Saudi energy minister meets with COP30 president-designate
Saudi Gazette report RIYADH — Saudi Minister of Energy Prince Abdulaziz bin Salman held a meeting with Andrea Correia de Lago, President-designate of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30), scheduled to be held this year in November in Belém, in the Amazon region of Brazil. During the meeting, the two sides discussed opportunities for cooperation in the field of climate action and joint efforts to achieve the goals and principles of the United Nations Framework Convention on Climate Change and the Paris Agreement, to reach comprehensive, balanced, and practical outcomes that take into account the national circumstances of member states. They also reviewed Saudi Arabia's initiatives and efforts to address the impacts of climate change, such as: exploiting renewable energy sources, managing, reducing, and removing emissions through the "Green Saudi Arabia" and "Green Middle East" initiatives, implementing the circular carbon economy approach and technologies, and other national and regional programs and initiatives. Holding the COP30 UN Climate Change Conference in the Amazon rainforest region of Brazil has symbolic significance. It harks back to the early days of international efforts to protect the environment, with the pivotal "Earth Summit" held in Rio de Janeiro, Brazil, in 1992, which led to the establishment of three environmental treaties on climate change, biodiversity, and desertification.
Scoop
20-05-2025
- Health
- Scoop
Ellen Johnson Sirleaf and Helen Clark Applaud Historic Pandemic Agreement
20 May 2025 Geneva: Today the Co-Chairs of The Independent Panel for Pandemic Preparedness and Response applaud the adoption of an historic pandemic agreement by the World Health Assembly, calling it a crucial step towards a world safer from pandemic threats. 'This agreement, bound by principles of equity and solidarity, recognizes that even in uncertain times, the only way to prevent and mitigate the impact of pandemics is to work together, to protect everyone and leave no one behind,' said Her Excellency Ellen Johnson Sirleaf, Co-Chair of The Independent Panel and former President of Liberia. The pandemic agreement text addresses critical gaps exposed by the COVID-19 pandemic, sets the rules and lays a foundation for collaboration to prevent, prepare for and respond to future pandemic threats. " We congratulate WHO Member States for remaining steadfast through some three years of negotiating difficult but crucial provisions that should give all regions access to the tools they need to stop outbreaks before they become pandemics," said the Right Honourable Helen Clark, Co-Chair of The Independent Panel and former Prime Minister of New Zealand. " Consider this agreement a foundation from which to build, starting today,' said Helen Clark. 'Many gaps remain in finance, equitable access to medical countermeasures and in understanding evolving risks. Don't wait to get started. Dangerous pathogens are looming, and they certainly will not wait." Four years ago, following its review of the international response to WHO, The Independent Panel recommended that a Framework Convention be adopted under Article 19 of WHO's Constitution, in order to fill gaps in pandemic preparedness and response. Given the grave inequities in access to vaccines and other medical countermeasures, The Independent Panel recommended the agreement include research and development and technology transfer, areas that remained contentious over the course of negotiations. The Co-Chairs note that language on these core provisions remains too narrow, and that pandemic prevention must include stopping outbreaks where and when they occur. This will require a public health, global commons-oriented approach to research and development and a measurable transfer of technology and knowledge to build regional self-reliance. The Co-Chairs urged a successful and efficient negotiation of the Pathogen Access and Benefit Sharing Annex, which is the next phase towards completion of the agreement. ' We want nothing more than to see this pandemic agreement open for signature following the World Health Assembly in 2026,' said Ellen Johnson Sirleaf. The Co-Chairs also recommend that Member States and donors ensure the funds required, including for the World Health Organization, to both pay for the process and preparations leading to a first Conference of the Parties, and to find ways to finance pandemic preparedness and response. ' Pandemic preparedness and response remain vastly underfunded. Countries, regions and the global system must urgently think differently, and think big about how to finance this crucial public good,' said Helen Clark.
