Climate finance is a legal commitment of the developed countries which cannot be met through markets, says LDC Watch representative Azed Girmai from Ethiopia at the opening session of The Subsidiary Body of Scientific and Technological Advice (SBSTA) at the Climate Change negotiations in Bonn on 1 June. Her presentation follows below
Chair, we are concerned on the fact that market solutions are still considered as solutions to achieve emission reductions when we all know clearly that past experiences show that carbon trading has not resulted in the real emissions reduction that the world needs.
We desire a price on carbon. This does not mean a global carbon market, using offsets, but means that polluters pay a real cost for the damage from their emissions. Using offsets would only serve to: commodify nature, slow the transformation process, and trample on human and community rights.
We must also stress that resources generated from markets are NOT climate finance, they are neither adequate nor predictable. Climate finance is a legal commitment of the developed countries which cannot be met through markets. We stress, Chair, for us in the LDCs markets remain as FALSE Solution.
Another false solution is a so called “Climate Smart Agriculture”, and so we welcome SBSTA workshops which focus on real solutions of adaptation and risk reduction strategies in agriculture.