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With regard to the COP26 negotiations, the faith leaders expressed concern over limited reference to action needed to address increasing climate impacts.
“The texts on finance fail to provide confidence that the overdue pledge of $100 billion a year in support for poorer countries will be delivered,” the statement reads. “The commitment on adaptation, as part of that finance pledge, falls significantly short.”
The current negotiations also do not address the fact that most public finance comes in loans, which are adding to the burden of debt for climate-vulnerable countries.
“World leaders must now step up and deliver a clear, actionable text that strengthens previous agreements and puts those living on the frontline of the climate crisis at its heart,” reads the statement, which calls on world leaders to recognise the urgency of the crisis; address loss and damage through mobilising a separate and additional funding stream; make loss and damage a permanent COP agenda item; and ensure appropriate capacity and finance to support the full operationalization of the Santiago Network by COP27.
