Ministers expressed their appreciation for the many high-level international meetings taking forward ambitious climate action, such as President Biden’s Leaders’ Summit on Climate and the Petersberg Climate Dialogue.
Ministers expressed their expectation for climate action taking centre stage at the upcoming G7 Summit as well as within the G20. Ministers recalled the Declaration on Nordic commitment for the global climate agenda of 30 April 2020, wherein Nordic Ministers expressed their full support to the incoming presidency of COP26 to achieve the most ambitious outcome of the conference.
COP26 will be a defining moment for the world to manifest our joint commitment to finalise Paris Rulebook and ambitious implementation of the Paris Agreement, through updated Nationally Determined Contributions in line with mid-century net-zero targets. The investments being made across the world in response to the economic crisis caused by the pandemic offers an opportunity to build back better and greener and accelerate implementation of the Paris Agreement and the 2030 Agenda for a green recovery.
In that light, Ministers highlighted the following elements as Nordic contributions in support of an ambitious outcome. Nordic countries:
- Will continue supporting developing countries in strengthening capacity for reporting requirements to fulfil the transparency framework established by the Paris Agreement. The framework constitutes a key pillar of the Agreement.
- Will continue developing pilot projects to explore modalities for implementing Article 6 of the Paris Agreement, highlighting the need for robust rules contributing to increased ambition and appropriate safeguards.
- Recall the steadfast commitment to the goal of mobilising 100 billion USD annually from 2020. Nordic countries remain some of the world’s foremost providers of climate finance and urge other donors to increase their share of climate finance as proportion of GNI. Nordic countries expect all countries – developed and developing countries alike – to integrate climate action in national budget and planning processes, thereby facilitating a strengthening of national climate policy frameworks as well as regulatory frameworks attracting the investments necessary for the transition.
- Stand ready to respond to priorities highlighted by developing countries, such as climate adaptation, including by using our voice in pursuing this in international financial institutions, relevant UN organisations and multilateral funds.
- Welcome the incoming COP presidency’s approach to develop initiatives in support of an ambitious outcome of COP26 and look forward to continued engagement related to these five COP26 campaigns.
- Recall initiatives launched by the Nordic countries and partners, such as the Leadership group for industry transition, the Coalition of finance ministers for climate action and the Global Commission on People-Centred Clean Energy Transitions. Ministers are committed to expanding the membership of these initiatives to increase climate action globally.
- Will continue to engage with partners across the world to support the transition to climate neutrality, by offering support in developing appropriate policy frameworks, financing climate action as well as through the innovative solutions Nordic companies can supply. The transition to climate neutrality presents an opportunity for new jobs and economic development. At previous COPs, the Nordic pavilion has provided a meeting place for governments, representatives of civil society, the research community and companies. Ministers acknowledged the role of processes that bring together climate actors with various perspectives on the climate actions we need to take. Ministers in particular highlighted the important role of youth in securing ambitious climate action globally.