‘If we don’t have climate finance, it’s completely useless’

Diego Pacheco, lead negotiator for Bolivia and spokesperson of the grouping called Like-Minded Developing Countries that includes India, explains why there is lack of trust among countries at the COP26 in Glasgow

A crucial leg of the ongoing UN-led COP26 summit on climate change in Glasgow begins on Tuesday as decisions on vital issues - such as climate finance, carbon markets, and loss and damage - are set to come for debate and discussion.

Diego Pacheco, lead negotiator for Bolivia and spokesperson of the grouping called Like-Minded Developing Countries, explained why there is lack of trust among countries at the COP26 climate change in Glasgow. (By arrangement)

After various heads of state made their statements during the leaders’ summit on November 1 and 2, several ministers and top leaders are yet again expected to make statements.

Developed and developing countries already stand deeply divided this week, failing to agree on the key issues.

Diego Pacheco, lead negotiator for Bolivia and spokesperson of the grouping called Like-Minded Developing Countries that includes India, explained why there is lack of trust among countries.

Edited excerpts from the interview:

Q. Is it true that there are talks of including some emerging economies on the list of donors for climate finance?

There is conversation about changing the providers and recipients of climate finance. There have been several attempts before to change the context of the provision of finance under the Paris Agreement. It’s happening again.

Q. What is the disagreement on climate finance about?

They don’t want to move forward on a substantive decision on the new quantified finance goal, which means first having a common understanding of the definition of climate finance and the amount. This would also mean a clear road map of achieving that. They are delaying that, and instead, [they are] trying to have a procedural discussion through workshops, seminars etc. They probably want to delay it as much as they can.

Q. But several countries have made bold pledges on finance, coal, forestry etc at COP26.

You have a lot of pledges this year that are outside the convention. Outside, there are talks of mobilising trillions of dollars for climate, but inside, we are not hearing anything. The presidency tried to say that this gap in $100 billion was met during this COP, but in reality, there is nothing under the convention.

Q. You and India on behalf of the BASIC countries have said principles of equity and common but differentiated responsibilities are being eroded. Why?

This is an anti-equity and anti-CBDR conference. Now, developed countries are creating a narrative that they are champions of [the fight against] climate change because they are pushing the objective of net zero by 2050. In that context, they don’t want to see what is in the past, the pre-2020 ambition. But these 2050 net zero goals are against equity because they don’t recognise historical responsibility. If they did recognise that, they would put down real emissions reduction goals by 2030. The developed countries are trying to impose the net zero by 2050 goal on every country. Isn’t it obvious that developed countries should peak before developing countries?

Q. Is there any progress on compensating climate-vulnerable countries on loss and damage?

The idea was to have a very strong operationalisation of the Santiago Network on Loss and Damage. But Annex 1 countries do not want a mechanism that can hold them accountable. So, it’s stuck.

Q. What do you expect from COP26?

I expect that at least we will continue to have the Paris Agreement as the framework and we finish the Paris Rulebook. But it cannot be an empty box. We also need means of implementation. If we don’t have climate finance, it’s completely useless.