Fiji has called on the international community to move beyond pilot projects and pursue transformative financing that ensures sustainable and reliable funding for significant national programs. During his remarks at the 6th High Level Ministerial Dialogue on Climate Finance at COP29 in Baku, Azerbaijan, Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, criticized the current climate finance approach for its focus on smaller initiatives.
Prasad noted that the prevailing model prioritizes minor projects, favors select partners, bypasses national systems, and allocates funds primarily for workshops and studies instead of impactful on-the-ground investments. He emphasized the challenges faced by Fiji and other Small Island Developing States in combating climate change through piecemeal projects. “This undermines our ability to protect Fijians and their communities,” Prasad stated.
He expressed hope that the conference would conclude with a robust decision on the New Collective Quantifying Goal (NCQG), aimed at spurring global economic transition toward decarbonization and adaptation strategies. According to Prasad, achieving the 1.5°C temperature limit and fulfilling the commitments of the Paris Agreement requires strategic investments and supportive measures.
In summary, Fiji stresses the need for significant financial commitments that support comprehensive national programs, rather than smaller, fragmented efforts, which are inadequate to tackle the urgent challenges of climate change. This call to action highlights the pressing need for collective responsibility and innovative financing solutions to support vulnerable communities in their pursuit of climate resilience. It inspires hope that global discussions will lead to meaningful outcomes for those most affected by climate issues.
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