GLASGOW / COP26 FINANCE ANNOUNCEMENTS PRESSER

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03-Nov-2021 00:02:39
COP26 President Alok Sharma today said that despite not meeting the 2020 target of 100 billion, he expressed confidence in OECD analyses which predicted the target would be met in 2022 and 2023, and “over the five-year period from 2021-2025, we will likely be above 500 billion dollars in aggregate.” UNIFEED

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STORY: GLASGOW / COP26 FINANCE ANNOUNCEMENTS PRESSER
TRT: 2:39
SOURCE: UNIFEED
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 03 NOVEMBER 2021, GLASGOW, UNITED KINGDOM

SHOTLIST:
1. Wide shot, COP26 banners on Buchanan Street, Glasgow
2. Wide shot, press conference room
3. Wide shot, journalists in audience
4. SOUNDBITE (English) Alok Sharma, COP26 President:
“It is regrettable that we are highly unlikely to have met the 100-billion-dollar goal in 2020. But on the basis of information submitted by donors, the OECD analysis shows that developed countries will make significant progress towards the 100-billion-dollar goal in 2022, and I believe it also provides confidence that we will meet it in 2023. And over the five-year period from 2021-2025, we will likely be above 500 billion dollars in aggregate.”
5. Wide shot, speakers at dais
6. SOUNDBITE (English) Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC):
“Yesterday, the United States joined Britain, France, Germany and the European Union, in a multi-billion dollar partnership to support South Africa finance a quicker transition from coal. This initiative is valued at 500 billion overall. Japan and Australia have also announced commitments to double their adaptation finance, and commitments from Switzerland, the US and Canada for the adaptation fund. New commitments have been made by Spain, Ireland, Luxembourg- so I do hope by the end of this conference we can really get to the goal of 100 billion. Not any more in 2020 and 2021, but really hopefully in 2022.”
7. Wide shot, press conference room with speakers at dais
8. SOUNDBITE (English) Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC):
“There was also a Global Forest Finance Pledge, that was launched at this COP, including commitments by a group of developed countries to collectively provide 12 billion for forest-related climate finance between 2021 and 2025. Now, the important point is that all of this needs to be reflected in the outcomes from the conference. The conference needs to acknowledge of course these significant steps forward. But we also need to see there how we are getting to move forward from these announcements to the mobilization of the trillions that are required.”
9. Wide shot, press conference room as attendees adjourn

STORYLINE:

COP26 President Alok Sharma today (03 Nov) said that despite not meeting the 2020 target of 100 billion, he expressed confidence in OECD analyses which predicted the target would be met in 2022 and 2023, and “over the five-year period from 2021-2025, we will likely be above 500 billion dollars in aggregate.”

Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) added further commitments including the Global Forest Finance Pledge of $12 billion for forest-related climate finance between 2021 and 2025, and South Africa Just Energy Transition Partnership which will mobilize an initial commitment of $8.5 billion. Espinosa underscored the need for all pledged funds to get from the announcement phase to the mobilization phase: “The conference needs to acknowledge of course these significant steps forward. But we also need to see there how we are getting to move forward from these announcements to the mobilization of the trillions that are required.”
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