Nathalia Clark, Tel: 55 991371229 Email: nathalia@350. org
WASHINGTON – The Finance in Common summit, which saw more than 400 public banks come together to discuss global challenges, failed today to achieve concrete and measurable commitments on how to end the climate and ecological crises. The Summit had a unique opportunity to deliver transformational commitments grounded in non-unusual principles to end the destructive finish and put the global on the road to rebuild better, yet the announcements of the two days beyond prove it There is a glaring lack of political will, that as the world continues to face multiple crises, with record cases of Covid19 in many countries and fatal weather effects continuing unabated, the days of empty words on paper are over. We want transparent plans on how the public budget will move towards responses that avoid the climate crisis, end poverty and inequality, integrate human rights and the rights of indigenous peoples in progression projects and elevate the most vulnerable to greater vulnerabilities, adding women and girls. As COP26 approaches, public banks will have to intensify their movements and their ambition to fully align with the Paris Agreement, in particular by ending all fossil fuel financing and intensifying adaptation movements, and achieving sustainable progression.
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<< Finance in Common has paved the way for the collaboration of public progressive banks, but urgent, ambitious and concrete action is needed. There is no excuse for continued financing of billions of dollars in coal, fuel or oil projects. prevent now. Only the acquisition of Covid-19 will have to come with more public budget invested in sustainable and renewable energy that ensures that everyone in the world has access to energy. Multilateral progression banks promised to align their loans with the Paris Agreement five years ago. , however, some have not even signed the Finance in Common statement. They will now have to turn engagement into action without further delay and pave the way for other public banks of progression and personal financing. "Sophie Richmond, Global Big Change Coordinator
<< Public progression banks should devote their important monetary resources and influence to building a fair, equitable, inclusive and sustainable long term for all. If not, who will? Achieving the Sustainable Development Goals, restricting global warming to 1. 5 degrees Celsius in the implementation of the Paris Agreement and the protective nature will be the main drivers of action through public progression banks over the next decade. artifacts of enlightenment and moral approaches a reality. You'll have to be in the right aspect of the story, and rarely before those words sounded so true. "Iara Pietricovsky, Preaspectnt of Forus
“Many beautiful words, but very few concrete commitments. The Joint Finance Summit failed to demonstrate how public progress banks would take urgent and concrete action to address health, climate and biodiversity crises. Much more ambitious commitments, starting with finishing all”Fossil fuel financing is needed through COP26 if public progression banks are seriously aligned with the objectives of the Paris Agreement. exports of fuel projects for 15 years, until 2035 Lucile Dufour, International Policy Advisor at Climate Action Network France
“Getting public monetary establishments out of fossil fuels is an urgent task. Now is the time for publicly funded entities to make the right decision and make sure available resources are spent to create the long term we want. We have a historic opportunity to drive genuine and transformative replacement and greater reconstruction in accordance with climate and sustainable goals. There is much at stake for people’s jobs and health, just to say that the desire for a fair recovery and a low-carbon transition will not diminish it. “Boeve, CEO of 350. org
<< Finance in Common has paved the way for the collaboration of public progressive banks, but urgent, ambitious and concrete action is needed. There is no excuse for continued financing of billions of dollars in coal, fuel or oil projects. prevent now. Only the acquisition of Covid-19 will have to come with more public budget invested in sustainable and renewable energy that ensures that everyone in the world has access to energy. Multilateral progression banks promised to align their loans with the Paris Agreement five years ago. , however, some have not even signed the Finance in Common statement. They will now have to turn engagement into action without further delay and pave the way for other public banks of progression and personal financing. "Sophie Richmond, Global Big Change Coordinator
<< Finance in Common is the beginning of a new era of multilateralism for the multilateral monetary formula and for the global eco-formula of public banks, large and small, which are the key to a greener, better, more resilient economy and just after the COVID-19 crisis, and this summit is about to be devoted in combination to achieving it, these establishments have immense strength to mark the direction of progression in the North and South, and today they will dedicate themselves to making this progression and sustainable for the climate, aligned with the Paris Agreement and other external objectives, the biggest challenge now is to make it a sustainable institution, bringing together all public banks, large and small , all export credit agencies, all multilateral progression banks, adding those that could not adhere to today's declaration, to act as one. All public banks for a planet, a planet for all public banks, paraphrasing Alexandre Dumas. Sonia Dunlop, Senior Poli cy Advisor at E3G
<< Finance in Common has failed to address the legacy of BPAs supporting human rights projects that affect thousands, if not millions, of others around the world. Without a genuine commitment to community-led progression, respect for the rights of other Indigenous people, a voice around BPA-funded activities, or a more general rights-based approach, any discussion of inclusive progress is just that: speak Mark Fodor, Campaign Coordinator for Defenders in Development, Coalition for Human Rights in Development
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<< In the joint statement, the signatory progression banks say their goal is to expand the methods for aligning their monetary flows with the Paris Agreement until the end of next year's UN weather summit. They also need tactics to reduce their investments in fossil fuels. Then we'll have to assess the progress. For the UN weather summit in 2021, progressive public progress banks deserve to lead the way by forming a coalition that no longer budgets investments in fossil fuels. "Sophie Fuchs, Germanwatch political adviser
<< Developing countries are fighting the state of health and economic emergency of Covid-19 as they face a debt crisis that has left fitness systems under-funded and Zambia on the brink of non-compliance. Reducing this debilitating debt In order for hope that debt will be sustained in the future, public progressive banks will now have to play a guilty role in canceling their share of countries' debt, paralyzing governments' ability to respond to the pandemic. an essential tool for a just, ecological and feminist recovery from the Covid-19 crisis. Without it, there is no sustainable path to skill and progression in dozens of the world's poorest countries. "Soren Ambrose, Tax Justice Policy Advisor at ActionAid
<< Finance in Common provided an ideal opportunity for public progression banks to draw up a roadmap for meaningful climate action for COP26 in 2021, as well as to raise the bar on other vital issues, such as human rights. But the lack of ambition and time- Limited commitments The joint declaration of the summit is almost meaningless. It is particularly disappointing that multilateral progressive banks, such as the World Bank and the Asian Infrastructure Investment Bank, have refused to formalize their commitment by signing the declaration. the next Summit and COP26 will be to rectify these mistakes. Petra Kjell, Resource Campaign Manager
“Without a concrete commitment to end public funding for fossil fuels, this summit cannot be seen as a good fortune for climate action. It’s too late for confusing words about phasing out one fossil fuel at a time. Our studies show that oil, fuel and coal from the evolved fields and mines that exist lately would be enough to blow up our carbon budget to 1. 5 ° C or 2 ° C. There is no room for a new one. Fossil fuel financing from public progression banks. But there are bright spots: Banks like the European Investment Bank and Swedfund have in one position banned oil and fuel financing, and President-elect Joe Biden has vowed to avoid the dirty power of investment at home and abroad. . The EIB has said that it is in a position to cooperate with others in this area. By the time the UN climate talks, COP26 in Glasgow next year, public monetary establishments will have to heed this call and the paintings in combination to avoid investing in fossils. Laurie van der Burg, Senior Activist at Oil Change International
“We are seeing a big change in appetite for fossil fuels, especially coal, in low- and middle-income countries in Asia. The effects of the US election also mark the beginning of a renewal of the Paris Agreement on the external system. “AfDB with the United States, Japan, Europe and aiIB with China as major shareholders have interaction in this critical and rapid statement. Are AFDB and AIIB control representatives tougher in issuing energy investments in Asia than even their respective donor governments and borrowers?” Rayyan Hassan, Executive Director of the ADB Forum
“The global BPA coalition formed at the summit is committed to offering a program of paintings and paintings of responsibility, based on its joint statement. Words will now have to be put into action. At the same time, the mandate, policies and functioning of APs want to be replaced to serve the public interest, than to replicate a problematic progression model. Paintings of foreign networks will have to hold the BPA accountable for the intelligent intentions expressed today. Jean Saldanha, Director of Eurodad
<< Public progress banks have a wonderful duty to ensure that investments gain benefits directly for communities. We urge them to avoid fossil fuel investment projects and to put human rights, racial and climate justice at the heart of their actions. the way and take the initiative of a deep and immediate replacement in the way they operate, in line with a fair recovery for all. But they're still lagging behind. "
“We want to restructure the financing of progression to build resilient societies, satisfy the desires of communities, and protect ecosystems. The existing style of progression does not adapt to the global one we want, we are also intimidated by those who put the benefit before people. Joint finance has introduced a procedure that allows BPA to take ambitious and ambitious steps to build a non-unusual future, and meaningful participation through civil society can help them achieve this. progression banks Sarah Strack, director of Forus
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