Fiji’s President, Ratu Wiliame Katonivere, has urged developed nations to enhance their climate finance commitments to bridge the existing financial gaps that currently hinder vulnerable countries from gathering enough resources for adaptation. Addressing the Multi-stakeholder Thematic Panel Discussions on Adaptation Finance and Resilience related to sea-level rise during the 79th United Nations General Assembly in New York, he emphasized that rising ocean levels represent an immediate threat to numerous small states and millions residing in low-lying coastal regions.
“Communities worldwide are grappling with the devastating effects of climate change, with sea level rise standing out as one of the most serious consequences of this crisis,” Ratu Wiliame stated. He stressed the importance of achieving the New Collective and Quantified Goal (NCQG) on Climate Finance at COP29, calling for ambition, commitment, and collective action to turn this goal into a reality.
He also pointed out the necessity for reform in global financial institutions, including the Green Climate Fund (GCF) and Adaptation Fund, to meet the pressing demand for finance. “We need to involve women, children, youth, Indigenous peoples, and marginalized communities in finding solutions. It’s vital to explore innovative technologies and partnerships essential for building resilience against sea-level rise,” he added.
The President reiterated that while sea-level rise is a global challenge, immediate action is required from financial institutions to develop innovative financing solutions that incorporate sea-level rise and protect our planet.