Climate

COP31: Q&A: ‘We suffer the consequences more, then pay more to finance the response’

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 29/10/2026, 04:58:24 UTC.

Briefings

At COP31 in Antalya, Türkiye, Uruguay's María Fernanda Souza highlights that wealthy nations are scaling back climate financing, with the UK cutting its Green Climate Fund contribution by 50%. While Uruguay prioritizes adaptation and just transition, it faces significant hurdles: 70% of its climate policy relies on the Green Climate Fund, and many projects face delays. Geopolitical tensions, including the US exit from the climate regime and Gulf energy security concerns, complicate global finance. Uruguay has improved its own access through sovereign bonds indexed to climate indicators, but access remains limited for many Global South nations.

Key points

• Uruguay's María Fernanda Souza leads the Group of 77 and China as alternate chair, focusing on adaptation and just transition priorities at COP31.
• The UK reduced its contribution to the Green Climate Fund by 50%, and approximately 70% of Uruguay's climate policy programming depends on this fund.

Context

COP31 opens in Antalya, Türkiye, on 9 November, marking the first time Uruguay chairs the Group of 77 since its 1964 founding. The summit faces complex financing due to developed nations' shifting priorities, with Uruguay seeking to balance international climate finance access against local economic needs.

Limitations

Evidence covers Uruguay's specific challenges at COP31, including UK funding cuts and project delays. Data on other Global South nations' access is limited to general statements about the Green Climate Fund, without specific country-level statistics or dates.

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