Fiji has reaffirmed its dedication to climate action, calling for immediate reforms in climate finance specifically aimed at Small Island Developing States (SIDS).
During his address to global leaders in New York, President Ratu Wiliame Katonivere emphasized the necessity of restricting global warming to 1.5 °C and highlighted the fairness aspect of climate funding.
He pointed out the considerable difficulties SIDS encounter in securing climate financing, which are made worse by high levels of debt and costly disaster responses.
The insufficient international financial structure leaves Pacific Island Countries in need of considerable annual funding for adaptation, yet they remain unable to fulfill their climate commitments due to resource constraints.
Katonivere condemned the unfulfilled commitment from 2009 to provide US$100 billion annually for climate initiatives in developing nations, advocating for greater financial support in the form of grants and concessional loans.
He recognized Germany’s contributions to climate finance and called for expedited access to climate funding that aligns with the needs of Pacific communities.
Furthermore, he underscored the importance of increasing grant allocations and improving the Multidimensional Vulnerability Index to help SIDS obtain the essential resources they require.
He stressed that integrating this index into climate financing is crucial for the survival of these nations.