More climate funding needed to ‘move from rhetoric to decisive action’
That was the strong message from Western Pacific Nation President Palau Surangel Whipps speaking at the Interactive Dialogue on Wednesday within the framework of this Summit. Fourth International Conference on SIDS (SIDS4)takes place this week on the twin islands of Antigua and Barbuda in the Caribbean.
He told delegates that there needed to be one “moving from rhetoric to decisive action”.
But representatives of two European countries committed to climate finance said news just hours earlier from the Organization for Economic Co-operation and Development (OECD) confirmed that A total of $115.9 billion has been mobilized by 2022 for climate action in developing countries, shows that significant progress is being made.
In 2009, COP15 set a goal of mobilizing $100 billion per year for climate action in developing countries by 2020.
President Surangel S. Whipps of Palau speaks at the Interactive Dialogue on Effective Implementation of Climate Finance during the Fourth International Conference on Small Island Developing States.
Building in Dubai
Today’s session builds on commitments made in Dubai, including the establishment of a Critical Damage and Loss Fund to help SIDS and other vulnerable countries offset the impact of extreme weather harsh conditions, rising sea levels and coastal erosion.
President Whipps said increasing support for SIDS is not only important for their survival “but also essential to solving the world’s climate challenges.”
He added that “we need strong and responsible international climate finance mechanisms to deliver real results”.
Jennifer Morgan, Germany’s Special Envoy for Climate Action, addressed the Interactive Dialogue on Effective Climate Financing during the Fourth International Conference on Small Island Developing States.
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Jennifer Morgan, Germany’s Special Envoy for Climate Action, agreed that the world must build on COP28 commitments, which include a fair and equitable transition away from fossil fuels and Funding resilience and adaptation.
Currently, 90% of total green investment goes to developed countries and China.
She hailed the OECD announcement as a breakthrough and said SIDS could make a “truly unique contribution” to the COP28 commitment to eliminate deforestation by 2030.
She said she was looking ahead to COP29 in Baku in November “We will need to listen to each other more than ever” to find solutions that can ensure large-scale climate action.
Naadir Hassan, Seychelles Minister of Finance Economic Planning and Trade, spoke at the Interactive Dialogue on effective climate financing during the Fourth International Conference on Small Island Developing States.
Naadir Hassan, Seychelles Minister of Finance, Economic Planning and Trade, said COP28 was “a significant step forward” for SIDS but he echoed Mr Whipps’s view that it was words versus actions that really mattered. key.
There was no time to waste, he said, citing the fact that Seychelles’ coastal infrastructure had “fallen into the sea”.
“This year I will be attending COP for the fourth time and we have been talking about these issues since I have been Minister for over three years, But we haven’t seen a single dollar come into our country to actually fund climate adaptation measure.”
This is where the lack of action becomes critical, he added, despite promises of $85 billion to the Damage and Loss Fund, and an additional $12.8 billion to the Green Climate Fund – along with another $188 million for the Green Climate Fund. Adaptation Fund.
We need to see this money realized in SIDS economies “very urgently”, he told delegates, estimating the costs of adaptation and mitigation in his island nation in next decade is $600 million and warns that the next 10 years will be a struggle. climate change: “We really have to move faster.”
A view of Jolly Beach in Antigua and Barbuda, where the Fourth International Conference on Small Island Developing States (SIDS4) is being held.
He lamented that because many SIDS are classified as Middle Income, they are “completely cut off” from preferential financing for the poorest.
“We have to change the entire global financial architecture in such a way that SIDS can truly leverage and adapt to the new global environment.”
Tomas Anker Christensen, Denmark’s Special Envoy for Climate, provided further reassurance from a major donor perspective when he said that Wednesday’s OECD report was a major funding success. for climate.
He said even if countries like Seychelles do not receive direct funding from countries like his, their support for climate initiatives from the Green Environment Fund, the Bank The world and other organizations are very significant.
Denmark is committed to donating to the Loss and Damage Fund and working hard to launch it, he added, noting that the Green Climate Fund took seven to eight years to become operational. , while the Loss and Damages Fund will become operational in just two years. .
Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), addressed the Interactive Dialogue on Effective Implementation of Climate Finance during the Fourth International Conference on small island developing nation.
Adjust climate goals
Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Simon Stiell returns to the charge that there is too much rhetoric and not enough action.
He emphasized that unity of opinion is important: “there is unity in terms of language and We have made great progress in this process over the past few years.”
He added: “We are lacking in building momentum for action.” Global inventory agreed at COP28 to take stock of progress on climate action. Not enough progress has been made “but it has given us a roadmap for how we move forward in the next phase”.
Mr. Stiell made it clear that the upcoming COPs in Baku, Azerbaijan and Belém Brazil, will be the real test of “whether we move from words to actions.”
He also welcomed the OECD figures published on Wednesday and said there was now an opportunity to consider what the transition to renewable energy really means for SIDS.
He said it amounts to “economic transformation. Eliminate fossil fuel dependence, foreign exchange leakage, high energy costs affecting competitiveness, cost of living and disposable income – This is extremely important for the development of your region.”
Mr. Stiell further stated that the next two years will determine “whether we move from words to action.”
He added that UNFCCC will support all SIDS to pursue greater climate finance “to achieve the best possible results in COPS29 and 30.”
The Global Environment Facility and the United Nations launch a new fund worth 135 million USD
To further boost financing to address climate change, the United Nations Development Program (UNDP) and the Global Environment Facility (GEF) have launched a new fund worth $135 million Green and Blue Islands Integrated Program (BGI-IP).
This initiative aims to highlight the important role of nature and expand nature-based solutions to combat environmental degradation in three key areas: urban development, food production and tourism.
This initiative targets 15 SIDS to promote positive change in nature. Managed by UNDP and funded by GEF and partners, it represents a new wave of support for SIDS as they embark on the Decade of Action from 2024 to 2034.
“SIDS are on the frontline of climate change and nature loss as they face harsh realities such as rising sea levels, more unpredictable weather patterns and degraded ecosystems, but the situation Their unique shape also means they are also driving a range of innovative activities and interconnected solutions,” said Achim Steiner, UNDP Administrator.
