A Sustainable Recovery for People and Planet
COP26 President Alok Sharma at 'A Sustainable Recovery for People and Planet', part of the 2020 Annual Meetings of the International Monetary Fund (IMF) and the Board of Governors of the World Bank Group (WBG)
The coronavirus pandemic has presented us all with very many challenges.
But our recovery offers a chance to reshape the global economy.
By investing now, to reduce our emissions, build resilience, and adapt to climate change, we can create jobs and generate growth.
And at the same time, we can protect the planet for future generations.
The international community is integral to realising the potential of a green global recovery.
Countries, public financial institutions, business, and civil society, we must all work together towards building back greener.
On the 12th December, the UK and the UN Secretary General will co-host a summit on the 5th anniversary of the Paris agreement, alongside France, Chile and Italy.
And I invite world leaders to use this to announce ambitious nationally determined contributions.
To commit to long term strategies to get to net zero. And to launch adaptation plans.
And of course, to make enhanced commitments on international climate finance beyond 2020.
It’s critical that donor countries deliver on their commitments. And that we collectively demonstrate progress to that totemic 100 billion dollar per year goal.
The UK is doubling its international climate finance to around 11.6 billion pounds over a five year period.
And I hope that many other donor countries will make similar commitments at the event in December.
The international financial system is going to be integral to delivering a green recovery.
The World Bank Group, and Regional Banks, have responded with speed and ambition to the pandemic, making over 200 billion dollars available over the coming year.
Now, I believe, we must clarify precisely how this funding will support a green, inclusive and resilient global recovery.
We need the leadership of the World Bank, and the IMF, and other financial institutions, in guiding countries to develop their recovery plans.
Your expertise and finance is going to be absolutely critical in helping climate-vulnerable countries build their resilience.
We have an opportunity to unite the world to meet shared challenges, at this pivotal moment in our shared history.
So, ahead of COP26, let’s work together to make a green recovery a reality around the world.
Creating a prosperous and sustainable future for our children and grandchildren. We owe that to current and future generations.