Fiji has reaffirmed its dedication to climate action, emphasizing the need for immediate reforms in climate finance for Small Island Developing States (SIDS).
During a speech in New York, President Ratu Wiliame Katonivere highlighted the critical goal of limiting global warming to 1.5 °C and underscored the importance of justice in climate financing. He pointed out that SIDS face considerable difficulties in accessing climate funds, a situation worsened by high levels of debt and costly disaster responses.
Katonivere expressed concerns about the inadequacies of the current international financial system, which leaves Pacific Island Countries requiring significant annual funding for adaptation efforts while lacking the necessary resources to meet their climate goals.
He criticized the unfulfilled commitment made in 2009 to provide US$100 billion annually for developing nations in combating climate change, calling for more adequate grants and concessional loans. The President acknowledged Germany’s support for climate finance but urged for a faster deployment of funds that align with the priorities of Pacific communities.
Furthermore, he stressed the necessity of increasing grant distributions and enhancing the Multidimensional Vulnerability Index to assist SIDS in obtaining vital funding. He noted that incorporating this index into climate finance frameworks is essential for the survival of these island nations.