“We welcome the focus on climate action in Bangkok. For governments already grappling with the costs of climate impacts, debt pressures can make it even harder to protect communities and invest in resilience.
These meetings are an opportunity to put climate finance and debt relief for developing nations at the heart of global financial discussions. El Niño may pass, but the impacts of extreme weather can last for years. Alongside the global fuel crisis, this reinforces the urgent need to scale up climate finance and ensure it reaches the places where action is happening.
This means helping communities withstand climate impacts, keeping businesses operating, futureproofing economies and protecting people from devastating fires, heat and flooding.
Cities, states and regions are on the front line of climate impacts and are already delivering solutions, but they need greater access to finance. That’s why, at COP31, the Under2 Coalition will launch its Subnational Investment Forum, to turn dialogue into impact and unlock investment for critical climate solutions.
Fossil fuel subsidies divert money from affordable solutions that can deliver long term value. Investing in electrification can cut emissions, strengthen energy security, improve public health and drive economic growth.”