Developed nations must step up and fulfil their climate finance commitments to address the existing climate finance gaps which currently leaves the most vulnerable nations with insufficient resources to adapt.
His Excellency the President, Ratu Wiliame Katonivere stated this while delivering Fiji’s statement at the plenary on Multi-stakeholder Thematic Panel Discussions on Adaption Finance and Resilience in Relation to Sea-Level Rise on the margins of the 79th United Nations General Assembly in New York.
President Katonivere shared that the rising oceans are not just a distant threat, but a clear and present danger to thousands of people across small states and millions in low-lying coastal areas.
“As we gather here, communities across the globe are facing the devastating impacts of climate change, and sea level rise is one of the most profound manifestations of this crisis.”
“We must achieve the New Collective and Quantified Goal (NCQG) on Climate Finance at COP29. We must be ambitious, committed and be collective in our actions to make this a reality.”
President Katonivere added that a reform is needed with global financial institutions such as the Green Climate Fund (GFC) and Adaptation Fund to respond to the urgent need for finance.
“We must engage our women, children, youth, indigenous, and the marginalised communities to be part of the solution. We must explore innovative technologies and partnerships which are crucial for resilience to sea-level rise.”
Sea-level rise is a global problem however President Katonivere is urging global financial institutions to act swiftly now and promote innovative financial solutions that mainstream sea-level rise and safeguard our planet.