G20 leaders time to show us the money for climate action

Photo: GreenpeaceGreenpeace massive climate warning banner on iconic bridge greets G20 leaders

Greenpeace activists are in the process of rappelling off one of Pittsburgh’s iconic bridges with a massive banner displaying their message to G20 leaders gathering for summit: "Danger. Climate Destruction Ahead. Reduce CO2 Emissions Now".

The banner, nearly 24 x 9 meters (80 x 30-feet) in size, takes the form of stylised “road sign” and warns of the political manoeuvring and delay that have put the climate treaty in jeopardy as the world enters the final stretch on the road to Copenhagen.

The message to President Obama, Chancellor Merkel, President Sarkozy and other G20 developed country leaders urges decisiveness on climate finance and green stimulus; this is the time for action, not for lowering expectations.

Yesterday, the UN Secretary General Ban Ki-moon’s summit on climate change laid bare the divisions between developing countries ready to commit to action, and developed countries’ empty rhetoric. The G20 is where leaders of developed countries need to put their money where their mouths are.

Greenpeace is calling on developed countries to contribute at least USD140 billion a year by 2020, to developing countries in order to enable them to adapt to and take action on climate change and to finance forest protection.

Video: Youtube

“This G20 summit is crucial; finance is fundamental to tackling climate change and with just 10 weeks left until Copenhagen, further delay is not an option. Gordon Brown has already recognised the substantial climate investment needed for developing countries. Now Obama, and other industrialised world leaders need to step up and do the same,” said Patricia Lerner, Greenpeace Senior Political Adviser.

“Leadership must come from developed countries. Right now that leadership can be measured in money, “she said.

Economic recovery is dependent on tackling climate change. If leaders fail to take the actions urgently needed this year, climate change impacts will likely cost over 20 per cent of global GDP – more than the Great Depression and both World Wars combined, in addition to the human deaths and species extinctions, according to Lord Stern, former World Bank chief economist.

Tackling climate change and channelling investment into green energy would be a fraction of this cost, just 1 or 2 per cent of global GDP.

Further, a new report from Greenpeace and the European Renewable Energy Council shows the renewable power industry could support 8 million jobs by 2030, if governments switched from carbon intensive energy to renewables (3).

G20 industrialised countries must demonstrate leadership in Pittsburgh and break the deadlock plaguing climate talks by:

•Kick-starting growth by agreeing here and now to invest in developing clean technologies for the future, creating jobs while lowering carbon emissions to prevent global temperature rise above 2 degrees Celsius.

•President Obama, Chancellor Merkel, President Sarkozy and other industrialised country leaders must take responsibility and send a strong signal that they will put money on the table – at least USD140 billion annually by 2020 - to support clean energy and other mitigation activities, forest protection and adaptation in developing countries.