It’s a real joy to be here with you today.
The UK helped organize a productive conversation about pandemic recovery that was inclusive and green, as well as effective climate adaptation, when we met last year.
Today is another crucial turning point.
Yes, a lot has changed over the past 12 months.
We convene against the backdrop of numerous global crises, many of which were sparked by the unlawful, cruel, and unjustified invasion of Ukraine by the Putin dictatorship.
And many people now understand how closely related energy and national security are to climate change and environmental security.
And while nations must address their urgent energy demands, many have realized that fossil fuels are not our common long-term energy futures.
The fundamental tenet of last year’s session—that we must provide a just and durable recovery—remains true even as we navigate current difficulties.
Because the chronic threat posed by climate change is undeniably worsening and the global economic position is also precarious.
Now that the UK is leading the charge in combating global warming, I couldn’t be happier.
Additionally, a significant change in infrastructure investment was made in the quest of clean, green growth at the G7 summit held at Carbis Bay last year.
Through our “British Investment Partnerships” and the “Clean Green Initiative,” we have maintained our position as a global leader by mobilizing billions of dollars and our financial know-how to promote clean growth.
And it has been a tremendous honour for me to advance this agenda as COP26 President.
The Glasgow Climate Pact, which was created by approximately 200 nations, was significant.
Additionally, in light of the promises made in that Pact and outside of the negotiating chambers,
I think we can legitimately claim that we preserved the possibility of keeping global warming to 1.5 degrees over pre-industrial levels alive and that we helped the most vulnerable.
Important mitigation-related pledges were made, most notably the demand that nations review and improve their NDCs by the end of the year.
The work program for Glasgow Sharm el Sheikh emphasized how important it is for all nations to be ready for and respond to climate concerns.
Additionally, the Pact acknowledged the necessity to substantively and methodically address the issue of loss and damage for the first time ever in these procedures.
Countries, businesses, and financial institutions made commitments to clean up important industries, stop deforestation, and hasten the transition to clean technologies.
With the $100 billion Delivery Plan, the pledge to at least double adaptation funding by 2025, and the work to ensuring that funding goes to national and local adaptation priorities, we also made significant progress toward scaling up climate finance.
Financial organizations committed to a net zero future and have over $130 trillion in assets on their balance sheets.
And I was thrilled that we could introduce the South Africa JETP, the first “Just Energy Transition Partnership.”
From “Life Below Water” to “Life On Land,” many of these commitments now made sure that we made progress on a number of the UN’s Sustainable Development Goals as well.
We accomplished a lot in Glasgow as a team.
And I’m glad that since November, we’ve made some progress.
There are 16 updated and new NDCs.
We have a number of fresh long-term plans.
Plans for adaptation already span more than 2.5 billion people.
And there is still a lot of effort being done to expand and enhance access to financing.
However, the overall pace of change has been too slow and too confined, friends.
Many of the pledges we heard in Glasgow still stand as pledges.
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The evidence continues to show that time is running out.
From the scientific findings of the IPCC reports to the tragically all too often wildfires, droughts, and floods that plague the world.
Therefore, we simply need to pick up the pace on all of the pledges we made in Glasgow.
If we don’t, the Global Stocktake the next year will demonstrate that we are not meeting the Paris Goals, that 1.5 degrees is increasingly and, quite bluntly, irreversibly, out of reach, and that we run the risk of exceeding our capacity to adapt.
That would have serious repercussions for every industry and nation.
This, my friends, is about the immediate effects on many millions of people’s lives and means of subsistence throughout the world.
Therefore, I will keep urging nations and businesses to step up their efforts, make sure that their emissions targets reflect the highest level of ambition, and carry out their pledges.
In addition, I’ll host the second Climate and Development Ministerial concurrent with the UNGA.
Of course, we’ll keep talking to our Egyptian friends.
My message has remained the same throughout all of this labor.
We do have the chance to rebuild more effectively and sustainably and to lead the world toward a more sustainable future.
But time is of the essence.
We must take action.
We must take immediate action.