I am here to fully support the Egyptian presidency to achieve a success, an ambitious result at COP27.

I am just off a plane from the G20 meeting in Bali – and have been briefed by the COP27 President and I thank him for his detailed description of the present situation.

We are at crunch time in the negotiations. 

COP27 is scheduled to close in 24 hours – and the Parties remain divided on a number of significant issues as it was referred. 

There has been clearly, as in past times, a breakdown in trust between North and South, and between developed and emerging economies. 

This is no time for finger pointing. 

The blame game is a recipe for mutually assured destruction. 

I am here to appeal to all parties to rise to this moment and to the greatest challenge that humanity is facing. 

The world is watching and has a simple message to all of us: stand and deliver.

Deliver the kind of kind of meaningful climate action that people and planet so desperately need.

Global emissions are at their highest level in history – and rising.

Climate impacts are decimating economies and societies – and growing.

We know what we need to do -- and we have the tools and resources to get it done.

And so I appeal to the parties to act in three critical areas.

First, the most effective way to rebuild trust is by finding an ambitious and credible agreement on loss and damage and financial support to developing countries.
 
The time for talking on loss and damage finance is over. 

We need action. 

No one can deny the scale of loss and damage we see around the globe. 

The world is burning and drowning before our eyes.

I urge all parties to show that they see it -- and get it. 

Send a clear signal that the voices of those on the frontlines of the crisis are finally being heard.

Reflect the urgency, scale and enormity of the challenge faced by so many developing countries.

We cannot continue to deny climate justice to those who have contributed least to the climate crisis and are getting hurt the most.

Now is a moment for solidarity.

Second, I appeal to all parties to forcefully address the huge emissions gap.

The 1.5 target is not simply about keeping a goal alive – it’s about keeping people alive.

I see the will to keep to the 1.5 goal – but we must ensure that commitment is evident in the COP27 outcome.

Fossil fuel expansion is hijacking humanity.

Any hope of meeting the 1.5 target requires a step change in emissions reductions. 

We cannot close the emissions gap without an acceleration in the deployment of renewables.

The Just Energy Transition Partnerships are important pathways to accelerate the phasing out of coal and the scaling up of renewables.

This effort must be expanded.

More broadly, we need to keep pushing for a Climate Solidarity Pact.

A Pact with developed countries taking the lead in reducing emissions.

And a Pact to mobilize – together with International Financial Institutions and the private sector -- financial and technical support for emerging economies to accelerate their transition to renewable energy.

This is essential to keep the 1.5 degree goal within reach.

Renewables are the exit ramp from the climate hell highway.

Third, the parties must act on the crucial question of finance.

That means delivery of the $100 billion in climate finance for developing countries.

It means clarity on how the doubling of adaptation finance will be delivered through a credible roadmap.

And it means acting on the consensus to reform multilateral development banks and international financial institutions.

Their business model needs to change to accept more risk and to systematically leverage private finance for developing countries at reasonable cost for climate action.

They must provide the support developing countries need to embark on a renewable energy and climate-resilient pathway.

Dear members of the media,

We must have agreed solutions in front of us – to respond to loss and damage, to close the emissions gap, and to deliver on finance. 

The climate clock is ticking, and trust keeps eroding.

The parties at COP27 have a chance to make a difference – here and now. 

I urge them to act -- and act quickly.

Thank you.