NEW YORK — Financial support will be critical if developing countries are to meet global climate goals, the Chairman of the Presidency of Bosnia and Herzegovina, Željko Komšić, said in the UN General Assembly on Wednesday.

The climate issue is closely linked to the Sustainable Development Goals (SDGs), he said, referring to the blueprint to end poverty, protect the planet, and ensure peace and prosperity for all by 2030.

Accelerate action now

“Climate change is no longer a matter of warnings from the scientific community. It is a crisis situation that is already upon us,” said Komšić, speaking through an interpreter.

“Finding answers to climate change is a costly process. It will cost even more if we do not take the need to accelerate climate change mitigation activities seriously.”

However, Komšić believed mitigation will be costly for the world’s least developed and developing countries, which still rely on fossil fuels for energy.

“As a rule, those groups of countries do not have sufficient capacity or resources to make a rapid and equitable transition to green energy sources. That will affect their ability to achieve sustainable development goals in the medium term,” he said.

“Therefore, financial support for the implementation of the Green Agenda is extremely important, with contributions from the Conference of Parties of the United Nations Climate Change Conference as well as regional associations such as the European Union.”

Fulfilling the promise

Komšić spoke of some of the challenges his country faces as it strives to meet European Union obligations under the Paris Agreement on climate change, and in line with the process for joining the regional bloc.

Bosnia and Herzegovina currently has about 40 percent “green” capacity for electricity generation, he said.

“However, gradual shutdown of thermal power plants, and thus most of the mines, which is expected of us in the next 25 to 30 years, will cause a shortage of electricity that can hardly be replaced in timely fashion by the green energy capacity, while preserving rivers and ecological biodiversity, in accordance with international norms,” he added.

“I believe that many other states present here face those (challenges) as well. However, Bosnia and Herzegovina stands behind its promise to contribute to reduction of greenhouse gas emissions.” — UN News