Fiji has reaffirmed its commitment to climate action, calling for urgent reforms in climate finance specifically for Small Island Developing States (SIDS).
During a speech delivered to global leaders in New York, President Ratu Wiliame Katonivere emphasized the critical need to limit global warming to 1.5 °C, while also addressing the justice aspect of climate finance.
Katonivere pointed out the considerable challenges SIDS encounter in accessing climate funding, which are worsened by high debt levels and the cost of disaster response.
He highlighted that the existing international financial structure fails to provide the substantial annual financing Pacific Island Countries require for climate adaptation, leaving them without the resources to meet their climate needs.
The President criticized the unfulfilled commitment to provide US$100 billion annually for climate change initiatives in developing countries, made in 2009. He advocated for increased grants and concessional loans to support these nations.
Acknowledging Germany’s contributions to climate finance, Katonivere urged for quicker access to climate funds that align with the priorities set by Pacific communities.
He also emphasized the importance of raising grant allocations and improving the Multidimensional Vulnerability Index, which would enable SIDS to obtain the necessary funding for their survival. Mainstreaming this index into climate finance is crucial for the future of these islands.