DUBAI: More global efforts are required to save agrifood and public health systems, and critical infrastructures from the impact of climate change, Hakob Simidyan, Armenian Minister of Environment, told the Emirates Environment Agency (WAM).
He made these remarks while welcoming the operationalisation of Loss and Damage Fund for climate-vulnerable countries at COP28, the 28th UN Climate Conference successfully concluded at Expo City Dubai last week.
Vulnerable countries’ challenges
‘We consider the Fund pivotal to assist developing countries in responding to loss and damage associated with the adverse effects of climate change,’ Simidyan said on the sidelines of COP28.
However, the minister observed that development and implementation of adaptation policies frequently exceeds the capacity of many vulnerable countries.
Therefore, he called for international support to vulnerable counties in their climate adaptation planning. ‘It is urgently needed to prevent further deterioration of agrifood systems, publ
ic health systems and critical infrastructures.’
Simidyan was referring to adaption to climate change, which means taking action to adjust to its present and future impacts. Loss and damage refers to the negative consequences that arise from the unavoidable risks of climate change, such as sea level rise, heatwaves, desertification, ocean acidification, and extreme weather events. The Loss and Damage Fund that was operationalised at COP28 aims to provide financial assistance to nations most vulnerable and impacted by the effects of climate change.
Translating climate projects into investment plans
Emphasising the importance of limiting the global warming to 1.5 ºC, the Armenian Minister said, ‘This is only possible through bold and immediate actions and increased ambition from all parties. In this context, COP28 with the leadership of the UAE Presidency was a great opportunity to make progress on this agenda to make the world on the right track.’
The UAE as the COP28 Presidency engaged with Parties throug
hout the year at ministerial, heads of delegation and technical levels, which laid a solid groundwork for the successful COP2 and articulated the strong commitment of the UAE, he noted.
Simidyan cautioned that the time is running out on the ‘climate clock,’ as science tells that emissions must be halved by 2030. In response, more public and private climate investments are required to deliver the commitments and reach the Paris Agreement targets. In this context, beyond securing additional funds globally, he suggested the use of innovative financial tools and mechanisms to channel funds and translate Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs) into investment action plans. NDC is a climate action plan to cut emissions and adapt to climate impacts under the Paris Agreement. NAP is a process that helps countries conduct comprehensive medium- and long-term climate adaptation planning.
Avoiding debt in climate finance
He observed ironically that debt remains the main instrume
nt to fund climate action in developing countries, rather than equity, grants, and concessional financing.
For developing countries, the minister said, this adds up to their already unsustainable debt burden, hindering investment for the transition to a low carbon economy and climate resilient development.
Developing countries, including middle-income countries, allocate huge funds to service their foreign debt along with others social, health, educational expenses, Simidyan pointed out.
As a developing country, he asserted, Armenia is deeply committed to further integrate the global processes for combating climate change and to deliver the Paris Agreement goals at scale and speed.
At COP28, Armenia supported the agenda on mountains and climate change, highlighting the need for the protection of vulnerable mountain ecosystems while building the resilience of mountain communities and economies, the minister revealed.
Armenia’s energy transition, cooperation with UAE
An existing Memorandum of Understandin
g (MoU) between Armenia and the UAE for environmental protection offers a great opportunity to further enhance bilateral cooperation in climate action, especially in renewable energy, he said.
In energy transition, a key topic discussed at COP28, Armenia has adopted ambitious policy measures, Simidyan emphasised.
Not being a fossil fuel producer, Armenia’s transition to carbon neutrality is at the core of the country’s energy independence and energy security, he stressed.
By 2030, the country targets 15 percent of solar energy share in total energy production, and 50 percent renewable energy share in total energy consumption.
Advanced development of solar power generation is already a reality in Armenia. One of the vivid examples is the public-private partnership-based cooperation of Ayg-1, a 200 MW utility-scale power plant construction, under a joint venture between the Armenian National Interests Fund (ANIF) and Masdar, Abu Dhabi Future Energy Company, the minister explained.
Source:Emirates News Agenc
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