Mr. President:

1. Cuba has the honour to speak on behalf of the 134 countries, which compose the Group of 77 and China.
 

2. The multilateral system on climate change is based on the UNFCCC, its Kyoto Protocol and the Paris Agreement.

3. In the G77 and China Ministerial Declaration adopted in September 2022 in New York, the G77 and China's Ministers "reaffirmed that the Paris Agreement is the collective achievement of all Parties, and seeks to enhance the implementation of the Convention, in accordance with its objectives, principles and provisions".
 
4. For the G77 and China it is crucial to achieve a balanced progress on all issues, including adaptation, mitigation, means of implementation and loss and damage, during the current 58 SBs session.

5. We fully recognize the importance of keeping the global average temperature increase well below 2ºC above pre-industrial levels and continuing efforts to limit such temperature increase to 1.5ºC emphasizing that developed countries must take the lead in such efforts. We recognize that limiting global warming to 1.5°C required rapid, strong and sustained reductions, based on the best available science and equity, taking into account common but differentiated responsibilities and respective capabilities and in the context of sustainable development and efforts to eradicate poverty and leaving no one behind.

Mr. President:

6. Climate finance, technology transfer, and capacity building are determinant enablers to what the Paris Agreement stands for. We will be looking for tangible progress at this session and at COP28 on these issues.

7. For developing countries, adaptation to climate change is a priority and a key component of the implementation of the Paris Agreement.

8. COP 28 needs to conclude the two-year Glasgow Sharm El Sheikh work programme on the Global Goal on Adaptation with a substantive outcome that delivers on the urgent need for progress on adaptation action and support. This SB session must produce concrete progress towards this outcome, including on the delivery of finance to developing countries to support National Adaptation Plans.

9. As we advance our work on the GGA work programme, we must work to develop and inclusive framework that recognizes developing countries challenges, ensures flexibility and address the support needed for developing countries.

10. The G77 and China welcome the historic decision at COP27 to establish the Loss and Damage Fund and call for advancing its full operationalization at COP28. We hope that discussions during the 2nd Glasgow Dialogue, taking place during this SBs session, will provide useful information to the work of the Transitional Committee. Also of great importance is the operationalization of the Santiago Network through the selection of its secretariat's host agency at this SB session. The Santiago Network is intended to catalyze and facilitate the provision of loss and damage-related technical assistance and other support to developing countries.

11. We expect that the LDF will provide new, additional, adequate, and predictable grant-based funding for ongoing and ex-post actions that developing countries are and will have to take to address impacts of slow onset and extreme events, including rehabilitation, recovery, and reconstruction. We look forward to have the Loss and Damage Fund as a stand-alone operating entity of the Financial Mechanism of the Convention and its Paris Agreement and be guided by and accountable to both the COP and CMA. We see the Loss and Damage Fund as the centerpiece of the new loss and damage funding arrangements. As developing countries, we stress the need for an inclusive, effective, and accessible Fund in view of our needs and the impacts that already are visible as a consequence of climate change.

11. The G77 and China grants high priority to the Global Stocktake. It must be carried out in a holistic, balanced, integrated and facilitative manner, considering all thematic areas, and in light of equity and the best available science. It must enable us to look backwards at implementation gaps and challenges, including those related to pre-2020. GST should also look forward in terms of identifying implementation and ambition opportunities to inform Parties in updating their NDCs and enhancing international cooperation on climate change. The Group stresses the importance of activities under the Third Part of the Technical Dialogue of the GST and looks forward to a robust and substantive CMA5 decision. In this regard, it calls for a text-based negotiation as soon as possible.

Mr. President:

12. The provision of climate finance is now recognized as widely insufficient, and the gap between the needs of developing countries and the support available is growing by the day. It is a matter of serious concern for the Group the failure of developed countries to meet the commitment made to jointly mobilize US$ 100 billion per year by 2020. If we add the accumulation of non-compliance in pledges since the goal should have been achieved in 2020 and the impact of inflation, this target, which was never based on science, is considerably higher, even calculated under existing commitments.

13. Current amount dedicated to climate finance for adaptation remains also very insufficient. We support the COP26 agreement to increase, even doubling, the amount of funding for adaptation by 2025 with the view of achieving a balance between mitigation and adaptation.

14. On the New Collective Quantified Goal on Finance, we reaffirm the discussions on Technical Expert Dialogue 6 must be framed in the context of Article 9 of the Paris Agreement, and also considering the principles of equity and common but differentiated responsibilities

15. We recognize the importance of the Decision taken in COP 27/CMA 4 to "establish a work programme on just transition We highlight the importance of adequate means of implementation for developing countries by developed countries, to undertake concrete action and address all aspects of just transition and different national circumstances. Therefore, we must look into all options and solutions towards promoting just and inclusive transition pathways.

Mr. President:

16. In a context when we are all doing efforts to increase our climate action, it´s an issue of serious concern the growing impact of unilateral economic coercive measures on the capacity and ability of developing countries to meet their obligations under the convention and the Paris Agreement.

17. Finally, I would like to assure you the wiliness of the G77 and China to work constructively with you and our partners to advance our work in this session. The Group also avails of this opportunity to reaffirm our full support to the current COP27 presidency, as well as the incoming COP28 President. We look forward to work closely with you for a meaningful outcome and success of COP28 in Dubai.

Thank you very much.