Petersberg Dialogue on Climate Change

Petersberg Dialogue on Climate Change
 

News: Recently, The Petersberg Dialogue on Climate Change was hosted in Berlin, Germany by Germany and the United Arab Emirates.
 

About:

o Started by former German Chancellor Angela Merkel in 2010, it is an annual high-level political and international forum held before the United Nations Climate Change Conferences (COP).
o It works to prepare for successful negotiations at COP climate change conferences and the main goal is to strengthen trust in multilateral climate negotiations and between states.
 

Important takeaways from the recently concluded dialogue:

o Break our fossil fuel addiction and drive decarbonization in every sector.
o German Foreign Minister stressed the need to make sharp cuts in greenhouse gas emissions to limit global warming to 1.5°C.
o The developed countries are “on a good track” to deliver the USD 100 billion per year they had promised to mobilize by 2020 during COP15 in 2009. However, a recent estimate pegs climate finance needs at 1 trillion USD annually by 2030 for emerging markets alone, highlighting the urgent need for financial reparations.
o The need for an urgent global financial systems transformation was underlined so that crucial climate finance can be unlocked for the most climate vulnerable countries in the world.
o 2023 is the year for the Global Stocktake, which aims to assess whether current efforts will enable us to reach the objectives set out in the Paris Agreement.