COP 26 Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Baroness Sheehan
Main Page: Baroness Sheehan (Liberal Democrat - Life peer)Department Debates - View all Baroness Sheehan's debates with the Department for Business, Energy and Industrial Strategy
(2 years, 8 months ago)
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Lord Callanan (Con)
Clearly, Brazil signed up to the declaration at COP 26 along with 140 other countries covering over 90% of the world’s forest. It is important for us to continue working with Brazil and countries representing some 75% of trade in agricultural commodities to try to move those countries’ trade towards more sustainable means.
Baroness Sheehan (LD)
My Lords, the IPCC estimates that spending on adaptation needs to reach $127 billion per year for developing countries by 2030, but at the moment adaptation spend accounts for just a fraction of that, and for just 4.8% of tracked climate finance. Do the Government accept that spending on adaptation and mitigation needs to be equal? If so, is that something which will be achieved during our year of the COP presidency?
Lord Callanan (Con)
Clearly, we are working with other like-minded countries to try to deliver the maximum resources possible for developing countries to help them to adapt to the effects. I am very proud of our contribution of £11.6 billion of international climate finance over this five-year period.