G20 sidesteps opportunity to lead on climate finance

Press release - November 4, 2011
Cannes, 4 November 2011 – Greenpeace today criticised G20 leaders for failing to agree on any specifics for innovative sources of climate finance in the run-up to next month’s Durban climate talks. Despite optimism that the G20 could boost confidence in the development of long-term sources of climate finance, outcomes at this week’s G20 fell well short of expectations.

“G20 leaders could have made good on multiple climate promises, but that ship has already sailed out of Cannes harbour, leaving vulnerable countries on the frontline of climate change adrift,” said Patricia Lerner, Senior Political Advisor for Greenpeace International. “The only hope is there might be renewed efforts towards creating a fair carbon charge on transport”.

“By failing to discuss ending fossil fuel subsidies - a commitment made by leaders two years ago - the G20 has sidestepped a real opportunity to shift subsidies away from polluting corporations, and to transfer support to countries that bear the brunt of runaway greenhouse gas emissions. When the upshot of this G20 meeting is an Action Plan for growth that consists only of existing national plans, it is highly questionable whether voluntary commitments can ever be sufficient to meet the scale of the global challenges needed”.

“While the Greek crisis is undoubtedly a pressing issue for the G20, it masks the wider problem, which is that there is something fundamentally wrong with the approach of focusing only on short term ailments”, Lerner said. “And despite the growing global movement for social, economic and climate justice, the G20 has yet again prioritised the bailing out of a flawed financial system, rather than ensuring the safety and security of its citizens and our planet”.

 ENDS

 

Contacts:

Patricia Lerner, Greenpeace International Senior Political Advisor, +31 646 16 2027

Caroline Chisholm, Greenpeace International Communications, +31 646 16 2018

Greenpeace International 24-hour Press Desk Hotline: +31 6 21296892