Fiji has reaffirmed its dedication to climate action, emphasizing the need for immediate reforms in climate finance aimed at Small Island Developing States (SIDS).
During an address to global leaders in New York, President Ratu Wiliame Katonivere highlighted the critical goal of limiting global warming to 1.5 °C and pointed out the importance of justice in climate finance.
He stressed that SIDS encounter substantial obstacles in securing climate funding, which are further complicated by high debt levels and the costs associated with disaster responses.
Katonivere expressed concern over the current international financial system, which fails to provide adequate annual financing for Pacific Island Countries to effectively implement their climate strategies.
He criticized the unmet commitment from 2009 to deliver US$100 billion annually for climate initiatives in developing countries, advocating for more significant grants and favorable loans.
The President acknowledged Germany’s contributions in climate finance and urged for expedited access to funding that aligns with the priorities set by Pacific communities.
Additionally, he emphasized the need to increase grant allocations and improve the Multidimensional Vulnerability Index, which could facilitate the acquisition of essential funding for SIDS. He underscored that incorporating this index into climate finance discourse is vital for the survival of these nations.