Rich nations must deliver climate finance before COP26: Guterres

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New York, Sep 23 | Demanding much bolder climate action from G20 nations, UN Secretary General Antonio Guterres on Thursday said that developed countries must uphold their promise to deliver $100 billion dollars in climate finance annually to the developing world before COP26.

His remarks during the UN Security Council briefing on the ‘Role of Climate Action in Maintaining International Peace and Security’ came in wake of inadequate climate action by many countries, especially rich nations, ahead of the COP26, the annual climate change negotiations meet at Glasgow from October 31.

“We need a breakthrough on adaptation and resilience to deal with the already dire impacts of climate disruption on the lives and livelihoods of people all over the world. It is essential that at least 50 per cent of climate finance globally is committed to building resilience and supporting adaptation. Annual adaptation costs in developing countries are estimated at $70 billion, and they are expected to reach up to $300 billion a year by 2030,” he said, adding”: “Huge gaps remain in adaptation finance for developing countries.”

“We simply cannot achieve our shared climate goals – nor achieve hope for lasting peace and security – if resilience and adaptation continue to be the forgotten half of the climate equation,” Guterres warned.

“This neglect is seriously endangering our collective efforts on the crucial road to COP26 in November,” he said and demanded rich nations to contribute their shares in the climate finance kitty.

Before that, he had also urged the member states to show “more ambitions” in their Nationally Determined Contributions (NDCs) by COP26 and to translate their commitments into concrete and immediate action. “Collectively, we need a 45 per cent cut in global emissions by 2030,” he said.

It is at the COP26 that the countries are set to negotiate actions to be taken to keep emissions in check to over all restrict global temperature rise to less than 1.5 degrees Celsius compared to the pre-industrial era by the end of this century.

Guterres also said that climate adaptation and peacebuilding can and should reinforce each other.

“It is clear that climate change and environmental mismanagement are risk multipliers. Where coping capacities are limited and there is high dependence on shrinking natural resources and ecosystem services, such as water and fertile land, grievances and tensions can explode, complicating efforts to prevent conflict and sustain peace,” he said.

Stating that more than 30 million people were displaced by climate-related disasters last year, Guterres said: “90 per cent of refugees come from countries that are among the most vulnerable and least able to adapt to the effects of climate change.”

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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