Why COP 23 should be a COP of finance, support- LDC

Ahead of the twenty third Conference of the Parties to the United Nations Framework Convention on Climate Change UNFCCC COP23, the Least Developed Countries (LDC) has called on nations that will gather for the conference to make it a COP of finance and support.
Chair of the Least Developed Countries (LDC) Group, Gebru Jember Endalew, said: “COP23 is a vital step on our journey to setting out a clear rulebook that will fully implement the vision laid out at Paris. This is the last COP before the work programme of the Paris Agreement is to be finalised, so we hope to leave Bonn with a draft negotiating text, that can be fleshed out over the coming year.”
Government officials, civil society groups, media among others will gather from 6-17 November 2017 for in Bonn, Germany, for COP23 negotiations. Hosted by Fiji, the negotiations are a key milestone, with only one year remaining to finalise the rules that will govern implementation of the Paris Agreement.
The impacts of rising global temperatures continue to worsen. In the lead up to COP23, we saw historic monsoon flooding, resulting in over a thousand lives lost and the displacement of over two million people in South Asia; the impact of consecutive seasons of drought in Africa; historic rainfall (with Hurricane Harvey setting a single-storm rainfall record in the United States, causing tens of billions of dollars in damage); and historic wind speeds laying waste to many Caribbean island territories (with Hurricane Irma recording the highest wind speed on record for the open Atlantic Ocean).
The catastrophic impacts of these extreme weather events underlie the urgency of substantive progress and action here in Bonn at COP23. LDCs will be pushing to deliver a Paris rulebook that catalyses greater ambition to correct our current trajectory and put the world on track to keep warming below 1.5°C. This means robust frameworks for reporting, implementation and compliance, and gauging progress across all facets of the Paris Agreement and climate Convention.”
“COP23 is also an important opportunity to bridge the widening finance gap, a serious barrier to ambitious climate action worldwide. The Paris Agreement set a vision for an ambitious global response to climate change that will keep warming below 1.5°C, in a fair and equitable manner that promotes sustainable development. Not only do existing climate pledges fall far short of this goal, but the finance mobilised by developed countries is also inadequate to help developing countries meet their climate goals and adaptation needs while important sources of support such as the Least Developed Countries Fund sit empty. LDCs and other developing countries cannot take ambitious action to address climate change or protect themselves against its impacts unless all countries fulfil and outdo the pledges they have made.”
“As the 47 poorest countries in the world, the LDCs face the unique and unprecedented challenge of lifting our people out of poverty and achieving sustainable development without relying on fossil fuels. Global solidarity and the support of the international community is essential for LDCs to achieve our ambitious climate plans, and protect our people from the devastating impacts of climate change that are already taking their toll.”
“The LDCs are calling for COP23 to be a COP of finance and support.”
“At COP23 the LDC Group will call on developed countries to rapidly accelerate the delivery of climate finance, with a particular focus on public finance. Both the Least Developed Countries Fund and the Adaptation Fund need to be replenished continuously and as soon as possible”
“Clear guidelines and adequate technological and capacity building support is also vital to enable LDCs to carry out actions to adapt to climate change and cope with losses and damages that threaten the survival of poor and vulnerable LDC communities,” said Mr. Endalew.
The LDC Group convened in Bonn for preparatory meetings from 29-30 October, to consolidate LDC positions and strategies ahead of the upcoming negotiations.