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Excellencies,

Eight months ago we left COP26 with 1.5 on life support.

Since then, its pulse has weakened further.

Greenhouse gas concentrations, sea level rise and ocean heat have broken new records.

Half of humanity is in the danger zone from floods, droughts, extreme storms and wildfires.

No nation is immune.

Yet we continue to feed our fossil fuel addiction.

What troubles me most is that, in facing this global crisis, we are failing to work together as a multilateral community.

Nations continue to play the blame game instead of taking responsibility for our collective future.

We cannot continue this way.

We must rebuild trust and come together -- to keep 1.5 alive and to build climate-resilient communities.

Promises made must be promises kept.

We need to move forward together on all fronts.

Mitigation.

Adaptation.

Finance.

Loss and Damage.

To protect people and the planet we need an all-of-the-above approach that delivers on each of these pillars of the Paris Agreement -- at pace and at scale.

Time is no longer on our side.

First, we need to reduce emissions -- now.

Everyone needs to revisit their Nationally Determined Contributions.

We need to demonstrate at COP27 that a renewables revolution is under way.

There is enormous potential for a just energy transition that accelerates coal phase-out with a corresponding deployment of renewables.

The agreement with South Africa last November sets a good precedent.

Partnerships under discussion with Indonesia and Vietnam are also significant.

They embody the potential of working together in a multilateral and collaborative spirit.

But let me be clear: these efforts should be additional – not a replacement -- to the support that developing countries need to ensure their transition to a net-zero and climate-resilient future. 

I look to the G7 and the G20 to show leadership – on NDCs, on renewables and on working together in good faith.

Second, we must treat adaptation with the urgency it needs.

One in three people lack early warning systems coverage.

People in Africa, South Asia and Central and South America are fifteen times more likely to die from extreme weather events.

This great injustice cannot persist.

Let’s ensure universal early warning systems coverage in the next five years, as a start.

And let’s demonstrate how we can double adaptation finance to $40 billion dollars a year and how you will scale it up to equal mitigation finance.

Third, let’s get serious about the finance that developing countries need.

At a minimum, stop paying lip service to the $100 billion dollars a year pledge.

Give clarity through deadlines and timelines and get concrete on its delivery.

And let’s ensure that those who need funding most can access it.

As shareholders of multilateral development banks, developed countries must demand immediate delivery of the investments and assistance needed to expand renewable energy and build climate-resilience in developing countries.

Demand that these banks become fit-for-purpose.

Demand that they change their tired frameworks and policies to take more risk and dramatically improve their dismal private investment mobilization ratio of 29 cents to the dollar.

They should increase funding that does not require sovereign guarantees.

And they should use partnerships and instruments to take on risk that will unleash the trillions of dollars of private investment we need.

Let’s show developing countries that they can rely on their partners.

Fourth, loss and damage has languished on the sidelines for too long.

It is eroding the trust we need to tackle the climate emergency together.

I have seen first-hand the impact of sea level rise, crippling drought and devastating floods.

Loss and damage is happening now.

We need a concrete global response that addresses the needs of the world’s most vulnerable people, communities and nations.

The first step is to create a space within the multilateral climate process to address this issue -- including on finance for loss and damage.

Excellencies,

This has to be the decade of decisive climate action.

That means trust, multilateralism and collaboration.

We have a choice.  Collective action or collective suicide.

It is in our hands.

Thank you.