Fiji’s President, Ratu Wiliame Katonivere, has urged developed nations to enhance their climate finance commitments to bridge existing gaps that currently leave the most vulnerable countries lacking the necessary resources for adaptation.
During the Plenary on Multi-stakeholder Thematic Panel Discussions focused on Adaptation Finance and Resilience in the context of Sea-Level Rise at the 79th United Nations General Assembly in New York, Ratu Wiliame emphasized that rising sea levels are not a distant concern, but an immediate threat facing thousands in small island states and millions in low-lying coastal areas.
“Communities around the world are already enduring the severe effects of climate change, with sea-level rise being one of the most significant indicators of this crisis,” he stated.
He called for the successful realization of the New Collective and Quantified Goal (NCQG) on Climate Finance at COP29, emphasizing the need for collective ambition and commitment to turn this goal into reality.
Ratu Wiliame indicated the need for reforms within global financial institutions such as the Green Climate Fund and the Adaptation Fund to address urgent financial requirements.
“We need to involve women, children, youth, Indigenous peoples, and marginalized communities in crafting solutions. Innovative technologies and partnerships are essential for building resilience against sea-level rise,” he added.
He pointed out that while sea-level rise is a global challenge, it is critical for international financial institutions to take immediate action and promote innovative financial strategies that prioritize the threat of rising seas and help protect our planet.