Prime Minister calls for diversification of resource mobilization for climate actions at COP28

Pham made the call as the global climate system is approaching the readline while there remains gap between commitments and actions.

The world failed to mobilize US$100 annually for climate actions over the past 14 years, stressed the Prime Minister.

Given the situation, Pham underscored that realizing commitments is key to consolidate trust among countries and unlock climate negotiations.

He called on developed countries to further enhance support and assistance for developing and underdeveloping countries, particularly in terms of concessional capital, technological transfer, human resource training, smart governance, and perfection of institutions.

Meanwhile, developing and underdeveloping countries need to promote their self-reliance and enhance their own capacity, emphasized the Government chief.

Pham called on the international community to stay more united, make greater efforts, and take more drastic climate actions to ensure the prosperous development of the humankind.

Since the adoption of the Paris Agreement on climate change at COP21 in 2015, subsequent conferences have revolved around implementing its key goal: halt global average temperature rise to well below 2°C and pursue efforts to limit the rise to 1.5°C above pre-industrial levels.

If Paris gave us the agreement, Katowice (COP24) and Glasgow (COP26) showed us the plan. Sharm el-Sheikh (COP27) then shifted us to implementation.

Now, COP28 is expected to be a turning point, where countries not only agree 'WHAT' stronger climate actions will be taken, but show 'HOW' to deliver them.

Measuring the progress towards achieving the Paris goals on mitigation, adaptation and climate finance and adapting existing plans is a key part of the puzzle, and this is why COP28 assumes more significance.

The first global stocktake, which began at COP26 in Glasgow, will conclude in Dubai.

The process is designed to help identify what more still needs to be done and guide countries towards more ambitious and accelerated climate action plans.

So, the decision adopted by the parties at COP28 could emerge as the most consequential outcome following the 2015 Paris conference./.