Lula claims that little has been done in relation to the Paris Agreement – MercoPress

Lula claims that little has been done in relation to the Paris Agreement

“A minimum tax on multinationals and the taxation of the wealth of the richest can generate valuable resources for climate action,” insisted Lula.

Brazilian President Luiz Inácio Lula da Silva expressed concern about the climate crisis and urged world leaders to strengthen their commitment to the Paris Agreement. He made these statements during the last thematic session of the Climate Summit, held on Friday in Belém.

“The world is still far from reaching the goal of the Paris Agreement. The agreement is based on the understanding that each country will do everything possible to prevent global warming from reaching 1.5°C. The question we must ask ourselves today is: are we really doing everything possible? The answer is: not yet”, insisted Lula, on the occasion of the tenth anniversary of the agreement.

The president highlighted that Latin America, Asia and Africa are the regions most at risk of becoming uninhabitable in the coming decades, including the possible disappearance of islands in the Caribbean and the Pacific due to rising sea levels caused by melting glaciers. “To remain silent is to condemn once again those who are already condemned on Earth,” he said. The president also highlighted the need to revitalize the objectives of the Paris Agreement through Nationally Determined Contributions (NDC). “One hundred countries, representing almost 73% of global emissions, presented their Nationally Determined Contributions. For the most part, the new NDCs made progress in covering all economic sectors and all greenhouse gases. However, the planet is still heading towards a warming of around 2.5 °C. As for Brazil, Belém will be the place where we renew our commitment to the Paris Agreement”, he highlighted.

Lula also highlighted that it is vital not only to implement what has already been agreed, but also “to adopt additional measures that allow closing the gap between discourse and reality”.

Likewise, he highlighted that Brazil will propose that the COP in the Amazon recognize the role of indigenous territories and traditional communities, as well as protection policies, as tools to mitigate climate change.

On the issue of financing, Lula cited the Baku-Belém Roadmap, which proposes alternatives to reach the objective of 1.3 trillion dollars annually for mitigation and adaptation to the catastrophic consequences of climate change. “Today, only a small part of climate financing reaches developing countries. The majority of resources are still offered in the form of loans. It makes no sense, either ethical or practical, to require developing countries to pay interest to combat global warming and face its effects. This represents reverse financing, which flows from the global South to the North”, he argued.

The South American leader defended the instruments to exchange countries’ debt for climate measures and noted that addressing climate change should be considered an investment and not an expense. Given that most of the global wealth generated in the last four decades was appropriated by individuals and companies, while national budgets were reduced, Lula defended the taxation of large fortunes. According to Oxfam, the richest 0.1% of the planet emits more carbon in a single day than the poorest 50% of the world’s population does in an entire year. It is legitimate to demand a greater contribution from them. “A minimum tax on multinationals and taxation of the wealth of the super-rich could generate valuable resources for climate action,” he added. Carbon markets could also become a source of public revenue, Lula suggested, but would still depend on a larger scale if countries adopted common parameters.

Furthermore, Lula reiterated his defense of the creation of a Climate Council within the scope of the United Nations (UN) and concluded by firmly defending multilateralism as a solution to global warming. “I appeal to all of you. There is no solution for the planet outside of multilateralism. The Earth is unique, humanity is one, so the answer must come from everyone to everyone. Instead of losing hope, we can together build a new era of prosperity and equality.”

The Climate Summit brought together leaders from different countries in a program prior to the 30th United Nations Conference on Climate Change (COP30), which will be held from November 10th to 21st, also in Pará, the capital of the province. The objective is to update and reinforce multilateral commitments to face the urgency of the climate crisis. (Source: Agência Brasil)