UNDP’s Steiner urges wealthy nations to honour climate pledges at Davos

United Nations Development Programme Administrator, Achim Steiner, has called upon wealthy nations to fulfill their promises in order to meet the climate action objectives. Speaking to CNBC Africa's Godfrey Mutizwa at the World Economic Forum in Davos, Steiner emphasized the critical need for increased funding to address the escalating threat of climate change in developing countries. During the conversation, Steiner highlighted the significant role of forest ecosystems in sustaining economies and combating climate change. He explained how essential it is for international organizations and governments to recognize the value of nature and prioritize sustainable development. Steiner acknowledged the progress made in raising awareness about climate change but also underscored the challenges posed by the reluctance of legacy economies to shift away from extractive practices. He cited the substantial subsidies provided to the fossil fuel industry and emphasized the urgency of transitioning to a net-zero carbon future. Despite the advances in technology and market readiness for renewable energy solutions, Steiner pointed out the barriers that continue to hinder swift progress towards a sustainable and equitable global economy. The discussion touched upon the role of economic policies in driving the necessary transitions and the importance of government intervention to align investment patterns with future-oriented goals. Steiner emphasized the need for international institutions like the International Monetary Fund and the World Bank to revise their criteria for assessing the financial situations of developing countries. He highlighted the call from United Nations Secretary-General Antonio Guterres for a reevaluation of the international financial architecture to address the challenges faced by developing nations. Furthermore, Steiner expressed concern over the reduction in funding from wealthy nations for development initiatives, noting that such actions hinder collective efforts to accelerate progress. He emphasized the importance of supporting leaders within international institutions who advocate for change and urged member states to provide the necessary resources to facilitate transformative initiatives. In conclusion, Achim Steiner's message resonates as a clarion call for increased commitment to climate action and sustainable development from wealthy nations and international organizations. The urgency of addressing climate change and promoting equity on a global scale demands collective responsibility and decisive action to secure a better future for all.