Fiji’s President, Ratu Wiliame Katonivere, has urged developed nations to enhance their commitments to climate finance in order to address significant funding shortfalls that leave vulnerable countries ill-equipped to adapt.
During the Multi-stakeholder Thematic Panel Discussions on Adaptation Finance and Resilience related to Sea-Level Rise, held alongside the 79th United Nations General Assembly in New York, Ratu Wiliame underscored the urgent nature of rising sea levels. He emphasized that this issue poses an immediate threat to countless individuals in small island states and millions living in low-lying coastal regions.
“As we convene here, communities worldwide are grappling with the severe consequences of climate change, with sea level rise being one of the most striking aspects of this crisis,” he stated.
He called for the achievement of the New Collective and Quantified Goal (NCQG) on Climate Finance at COP29, urging for ambitious, committed, and collective action to turn this goal into a reality.
Ratu Wiliame also pointed out the need for reforms within global financial institutions like the Green Climate Fund (GCF) and the Adaptation Fund to address the pressing demand for financial resources.
“We must involve women, children, youth, Indigenous peoples, and marginalized groups in finding solutions. Additionally, we need to explore innovative technologies and partnerships that are vital for enhancing resilience against sea-level rise,” he added.
He emphasized that while sea-level rise is a worldwide challenge, it is critical for global financial institutions to take prompt action and develop innovative financial strategies to mainstream considerations of sea-level rise and protect our planet.