O Petersberg Climate Dialogue (or Petersberg Climate Dialogue, in English) is a series of preparatory negotiations for the annual UN Climate Change Conferences in the European spring. In its 11th edition, held on 27 and 28 April, environment ministers from more than 30 countries met online and brought recommendations for actions to increase ambition in climate finance in the face of the COVID-19 pandemic.
The Dialogue was proposed by German Chancellor Angela Merkel in 2009, after the UN Climate Change Conference (COP15) negotiations in Copenhagen were deemed to have failed. It is so named because it was held at the Petersberg Hotel on the hill of the same name near the UNFCCC host city of Bonn. It has been held in Berlin in subsequent years and this year, unusually, it was held via videoconference.
There was a common understanding that the current decline in greenhouse gas emissions is not sustainable and that future emissions forecasts will be directly influenced by decisions being made at this time. In view of the current combined crisis of the pandemic and the climate emergency, the ministers agreed on the following: following suggestions:
- Economic recovery plans must be aligned with the Paris Agreement and the Sustainable Development Goals (SDGs): Investments being made now must consider climate neutrality and support social aspects, promoting quality green jobs.
- Recovery needs to be global to be successful: Multilateralism, international cooperation and support for developing countries are key factors in this. The target of mobilizing US$1.4 billion must be met by the end of this year.
- The review of Nationally Determined Contributions (NDC) and Long-Term Strategies (LTS) cannot be delayed: revised targets need to be delivered by the end of the year by governments around the world in order to maintain the common goal of increasing ambition to address the climate emergency.
In the special session on green recovery, “Financing climate ambition in times of COVID”, diplomatic, regulatory and policy leaders and experts discussed how to bridge economic action linked to a green and resilient global recovery. The recommendations were clear: a) focus on concrete policies and solutions that enable a green recovery; b) greater collaboration and transparency to address risks and seize opportunities; and c) cooperation between the private and public sectors is essential to maximize positive impact on the recovery.
There is a window of opportunity to rebuild the world for a more inclusive, resilient and sustainable future. We have an opportunity to act responsibly and bring climate change into the financial decision ecosystem, focusing on economic recovery in the short term and also on the structural changes needed for a sustainable future with inclusive and resilient growth in the long term.
