UN: Climate finance essential to avoid global inflation

Baghdad-INA
The Executive Secretary of the United Nations Framework Convention on Climate Change, Simon Stiell stressed today, Tuesday, that climate finance is necessary to avoid global inflation, while noting that the lessons of the pandemic confirm the need for collective climate action.

"Climate finance is not only about protecting the environment, but also about ensuring that global inflation is avoided," Stiell said during a joint press conference on climate, health and climate change, organized by the World Health Organization, UNFCCC and The Lancet on the sidelines of the 29th Conference of the Parties, which was attended by a correspondent for the Iraqi News Agency (INA).
 
"The failure of countries to take serious climate action will lead to an escalation in the effects of climate change, which could contribute to rising inflation," Steele warned. "We must learn from the lessons of the pandemic, where billions of people suffered and supply chains were damaged due to the delay in taking collective action," he added.

He added: "We must learn from the lessons of the pandemic, where billions of people have suffered and supply chains have been damaged due to delays in taking collective action."
 
He continued: "Climate finance should be viewed as a type of insurance against global inflation."
 
Today, the activities of the twenty-ninth session of the Conference of the Parties to the United Nations Framework Convention on Climate Change began with the participation of Iraq in the Azerbaijani capital, Baku.