More action, more climate ambition: A call from the Global South

In the fight against climate change, there is no room for complacency. It is not enough to announce that “it’s not too late to stop global warming,” when the efforts made so far have been insufficient and the house is literally on fire. Soon there could be nothing but ashes. Humanity is facing the largest systemic challenge that will define its existence, given the current tensions of increased energy consumption, the rising temperatures and the growing natural disasters.

The accumulated knowledge about this phenomenon, along with the advancements in science and technology, provide us with fundamental tools and put us in an unbeatable place, to provide – within the framework of our democratic institutions – viable and effective solutions that adapt to local needs. The decisions that are taken will be essential to straighten the course and provide new opportunities for future generations.

That is why it is urgent to act quickly and hasten climate action to reduce emissions, in order to limit the rise in global temperature to 1.5 degrees Celsius, and to increase investments in adaptation and resilience, especially in the most vulnerable countries and populations. This is a task that concerns the governments, but also the entire spectrum of society, the private sector, the international community and multilateral banks.

The facts say it all, and things complicate with the arrival of the El Niño phenomenon, which will cause new heat waves. The planet recently broke two records in the blink of an eye. The average worldwide temperature exceeded 17 degrees Celsius (62.6 Fahrenheit) in July 2023, and the warming of the North Atlantic has reached unprecedented dimensions.

At the economic level, projections towards 2100 indicate that the gross world product will drop 23% compared to a scenario without the effects of climate change. If corrective measures are not taken, in 2050 the gross world product will be 11% lower, according to the Emerging Markets Forum (Envisioning 2060).

Faced with this outlook, experts state that we have entered “uncharted territory,” an unexplored gray area of as yet unimagined dimensions – in the most literal sense, due to the exceptionally adverse conditions under which we will live.

IPCC and WMO reports

Recent reports and data from the Intergovernmental Panel on Climate Change (IPCC) and the World Meteorological Organization (WMO) provide an alert, although they also open the door for immediate action. What are their main findings?

1. The last eight years have been the hottest on record, according to instrumental records since 1850.

2. The concentrations of the three main greenhouse gases – carbon dioxide, methane and nitrous oxide – reached the highest levels.

3. The glaciers have lost a cumulative thickness of 30 meters (98.4 feet) since 1970.

4. The Antarctica sea ice decreased to its lowest levels on record.

5. Global mean sea level reached a new record high since measurements began (1993-2022).

6. Ocean acidification is currently at its lowest level in at least 26,000 years, posing a threat to organisms and ecosystem services.

Both documents concur on the immediate socioeconomic and environmental consequences of this scenario: droughts and rains causing havoc, heat waves, food and water insecurity, human displacement, destruction of ecosystems, pandemics, conflicts and more.

Climate change: A priority (despite the inaction of some)

In spite of the threat, some continue to remain passive, ignoring the priority status that climate change deserves. Certain countries are determined not to take firm and quick action. Others, deliberately – and taking a leap into the void – postpone the deadlines for reducing gas emissions, despite the United Nations Framework Convention on Climate Change, its Kyoto Protocol and the Paris Agreement.

Here, we must be emphatic and vocal: the effective fight against climate change inexorably requires the application of the principle of co-responsibility. This is a global problem that requires everyone’s commitment, without exception, and global solutions. But it also has to be complemented with the criteria of environmental justice. Everyone has to prevent and fix the effects and the damage, proportionally and without delay. At the international level, the collective interest must be above the individual, which is sometimes (perversely) concealed under the label of “right to development.”

Therefore, effective and fair public policy responses and great international cooperation are required regarding adaptation to climate change, the loss and accelerated degradation of biodiversity, the collapse of ecosystems and the significant increase in carbon emissions. Innovative financial mechanisms that promote climate financing are also necessary.

The interrelationship between climate change and poverty deserves a special mention. Simultaneous and complementary efforts must be made in both directions to reduce its effects. The Inter-American Development Bank estimates that, in the next 10 years, climate change could plunge 100 million people into poverty worldwide. Unmitigated climate change has negative effects on economic growth and inequality.

A voice from the Global South

Regarding the climate action, the Global South must go beyond the traditional positions of seeking reparations from an “ethical” and “historical” perspective, which have only led to frustration and complaints for the lack of results and responsibility.

Today, emerging economies have the necessity of building consensus, seeking a relationship of equals and moving beyond the obsession with the donor-recipient dynamics, as well as establishing a loss and damage fund. Their eventual resources generate more questions than certainties and their distribution would be the subject of a complex exercise in political economy.

It is necessary, then, to look ahead convinced of the importance and the need to create credible, innovative and operational mechanisms around conservation, as well as mitigation and adaptation. A good example of this are the debt-for-nature swaps, like the one Ecuador recently launched for the benefit of the Galapagos Islands, for $450 million.

The challenge is the development of policies of green and fair transition and productive development that allow for the redefinition and the construction of a model for the region, in order to decarbonize and diversify our economies. Additionally, it is necessary to develop proactive and constructive agendas that provide a framework not only for financial support, but also technical and for capacity building.

We must move from the rhetoric of the Conference of the Parties (COP) to effective action, hastening the transition to green energy and avoiding fragmentation and deficits in natural resources like water, whose scarcity affects more than three billion people.

In this scenario, Latin America has the potential to become a solution region. It must appeal to pragmatism and the construction of a long-term vision. Its natural wealth is unmatched for its biodiversity (60% of the planet), the Amazon rainforest (2.1 million square miles), its primary forests (50% of the world), its global freshwater reserves (30%), the potential of the energy matrix (one of the cleanest in the world), the renewable and green hydrogen sources (13 operational projects and 70 under development), among others.

The region, together with its development financial institutions, must have a more active and inclusive voice at an international level, contribute to a fair energy transition, protect the natural wealth and promote nature-based solutions. Resources must be invested accurately – with utmost precision – and in the projects that have the greatest impact. “Less freely available resources and more investment” should be the golden rule in order to meet the proposed goals and be able to move from theory to practice, which requires a deep knowledge and the best experiences.

According to figures from the CAF – Development Bank of Latin America, the region needs $110 billion to adapt to climate change, which requires new instruments and the mobilization of additional resources from the private sector.

These numbers make it clear that, given the challenges of climate action and development in Latin America, close cooperation and coordination between financial institutions is a necessity. Complementarity should be the norm.

Conclusion

The call is for action and for a greater climate ambition in the face of the dynamics of degradation, extinction and the intensity of man-made natural phenomena. This is the fight for the life of the planet from a humanistic perspective that integrates values and ethics and redefines the integral relationship with nature.

It is necessary to strengthen the governance systems (global and regional) and the response capacity of the nations, and empower citizens in the design of solutions. Political leadership is being tested, as are our democracies.

At the end of the day, we must realize that Earth is our only home. It is fertile ground for peace, cooperation and development. There is no planet B here!

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