The United Nations Climate Change Conference (COP21) has taken place between 30 November and 11 December 2015 in Paris with some 150 world leaders coming together to agree on measures to reduce the danger of climate change.
One of the issues being discussed is monetary assistance to poor countries from wealthy countries. This decision was taken at the 2009 UN climate conference in Copenhagen and the industrialised countries promised $100 billion (93 billion euros) in aid per year by 2020 in financial support.
The money will help poor countries to develop their technology and set up substructures to reduce emissions.
A coalition of nearly 40 countries, international organisations, and many businesses have called on global leaders to focus on removing fossil fuel subsidies.
The group - including the US, the UK, France, Ghana, Norway, Mexico and Sweden - announced in a common statement that the subsidies, forecast by the International Energy Agency to cost nearly $490 billion in 2014, "encourage wasteful consumption, disadvantage renewable energy, and depress investment in energy efficiency."
The UN climate summit in Paris will also play a key role in designating a list of voluntary national commitments for reducing carbon emissions.
China, the United States and the European Union alone are behind more than half of global CO2 emmissions.
Gokhan Yucel, COP21live.com director, spoke to TRT World and said that at the end of the summit it could be possible for the leaders to determine the terms in regards to keeping global warming under the degree of two.
He also stated there would not be a well-rounded agreement on solving all key issues such as reducing fossil fuel energy and carbon emissions at the climate summit.
“At the highest level of participation, nearly 195 world leaders will try to find a common solution but they will not agree on any result that threatens their national interests,” he said.
COP21live.com is a media hub aimed at following live updates about COP21 summit shared on social media.
The Intergovernmental Panel on Climate Change stated that while the world leaders in Paris are giving full attention to reduce emissions and keeping global temperature under the two degrees Celsius until 2020, they are faced with several other threats over climate crisis.
A recent UN report showed that “the last twenty years, 90 percent of major disasters have been caused as a result of 6,457 floods, storms, heatwaves, droughts and other weather-related events.”
According to the UN, almost 634 million people live in a risk at seaside regions that are just a few meters over the sea level. The latest example is El Nino, a climate cycle in the Pacific Ocean which has a global effect on weather conditions, threatens 4.7 million people with floods and drought within the Pacific region.
The United Nations Children’s Fund (UNICEF) reported last month that almost 11 million children who live in the eastern and southern Africa face hunger, disease and water shortages because of El Nino.