Business can no longer divide the “north-south” climate: UN

The United Nations Chief of Corporate Sustainability has warned business leaders that they can no longer ignore the “North-South divide” on climate change.

SANDA OJIAMBO, Director General and Director of the UN Global Compact. In addition to overseeing business commitments to achieve the Sustainable Development Goals, CNBC’s Steve Sedgewick said, “Climate has become the political issue of ‘the biggest shit.’

Speaking on a CNBC panel, the UN discusses the challenges and opportunities of a Zero Climate Economy at the World Economic Forum in Davos, the UN chief warned that the International Direction of currency between the Global North and the Global South has “created tension” at the global level “among businesses and politicians.

“You can’t ignore it when you’re out in the world,” he said.

The climate talks concluded in November at the COP29 summit in Baku, Azerbaijan, in akronton, developing nations established by the world’s rich financial commitments.

Global South leaders and activists The climate summit was angered by a $300 billion financial deala modest commitment to the $1.3 trillion needed for climate adaptation.

At one point, representatives from the poor and small islands became frustrated over what they called a lack of inclusion, worried that fuel-producing countries were watering down aspects of the deal.

Ojiambo warned of the consequences of classification and tensions in climate finance.

“It represents the right flow of capital, it distorts the exchange of technology, trust is broken,” he said, adding that they “cannot ignore politics” and instead “work.”

Strengthening public-private partnerships with “cheap capital” in the “Global South” is essential to healing a “broken world”, added the UN Boss.

“Anxiety and angst” in the South is the “lowest amount of anxiety” in the global, being the “highest impact of climate action,” Ojiambo said.

Climate scientists have warned Rising sea levels, frequent cycles and food insecurity are existential threats to the development of small islands in the Caribbean and Pacific.

A 1.5 C increase in average global temperatures would increase flooding and extreme droughts in Africa, home to 32 of the world’s 48 developed countries.

Both warnings and scientific divisions have turned the world into a “tipping point”, Ojiambo added.

-A Report published by the UN. In 2023 they found that the G20 countries are responsible for 76% of global emissions.

“We can get a significant number of big players on those goals, on those goals, that’s one piece. And then we can work on the rest,” he told the Davos panel.

-According to Genre Financial Network 2x GlobalGender Lens Investments in 2023 was nearly $8 billion in private market investment.