Scaling up climate finance and ensuring climate action in the midst of COVID-19 and economic crisis

About the Initiative

“Scaling up climate finance and ensuring climate action in the midst of COVID-19 and economic crisis” is an led by the Asian Peoples’ Movement on Debt and Development (APMDD), an alliance of 54 grassroots organizations and movements across Asia that has worked on development and climate issues for 20 years. The initiative, which involves advocacy work on climate finance in the context of COVID-19 and the global economic recession, seeks to ensure that 1) the scaling up of commitments to and delivery of climate finance is promoted alongside fiscal responses to the economic fall-out of COVID-19, and not further delayed or compromised, and 2) the programs and policies funded by climate finance and the fiscal responses to COVID-19 and related economic crises are mutually complementary.

Why is now the time to act?     

We are now faced by multiple crises – the Covid19 pandemic, economic recession and the climate emergency. Of the three, we have been dealing with the climate crisis for many decades already but actions to address this have been very dismal, especially in terms of providing sufficient financial resources to adapt and mitigate from the devastating impacts of the changing climate. Due to many years of inaction, we are left with only little window before humanity faces a planetary collapse. Climate Finance is very vital not only in keeping the average global temperature to 1.5 degrees and achieving the global mitigation and adaptation targets, but also in the survival of people and communities in countries where climate catastrophes and massive destructions have become their new normal. The call for scaling up and urgent delivery of climate finance is now being overshadowed by undoubtedly very urgent calls for fiscal responses to Covid19 and its economic fallout. However, these urgent calls should not be used as another excuse to avoid fulfillment of climate finance commitments. Delivery of climate finance should not be delayed, should be sufficient to the needs of people and communities in the Global South, and should be as urgent as public financing of measures to fight Covid19.

What is your vision of change for the global economy with this initiative?

The success of this project will have a significant impact to our efforts towards systemic transformation that will put planet first over profit, and prioritize the rights of people. This will have a positive effect to the global economy as resources will be consumed more sustainably and economic losses from resource wastage and from the destructions caused by climate change impacts will be reduced. Delivery of climate finance will also enable countries from the Global South to shift away from the use of coal and fossil fuels, and follow a renewable energy pathway, keeping the global average temperature from rising beyond 1.5 degrees, and prevent unprecedented climate impacts from happening. It will be beneficial for the entire humanity as water and land resources will be managed sustainably, reducing pressure on land and making food resources available especially to the most vulnerable. Adaptation to climate impacts will also be less difficult with sustainable livelihoods and green jobs in place.

How do you plan to leverage RVF support?

A key element to the success of this project involves building network of civil society groups working on climate justice.

APMDD will be needing contacts and linkages with other regional organizations in Latin America and Africa working on the same issue.

Media and communications support will also be crucial in disseminating information and amplifying our calls about the urgent delivery of climate finance, especially now that campaigning efforts are gravitating towards utilizing online platforms.

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