Assistant Minister for Finance, Esrom Emmanuel, is actively involved in the annual Deputies and Partners Meeting of the Coalition of Finance Ministers for Climate Action (CFMCA). This noteworthy event convenes representatives from over 90 countries focused on addressing the economic challenges posed by climate change.
The meeting aims to define strategic priorities and work plans for 2025 and beyond, enhancing the capacity of finance ministries to tackle climate-related issues. CFMCA serves as a global initiative led by finance ministers, striving to strengthen fiscal and financial responses to climate challenges.
Throughout the three-day conference, Assistant Minister Emmanuel is collaborating with delegates from nations experiencing a range of climate challenges, which jointly account for about 43% of global carbon emissions and 69% of global GDP. Discussions at the conference center on sharing best practices, fostering peer learning, and developing policies that promote climate action, backed by technical assistance from institutions such as the IMF, World Bank, Asian Development Bank (ADB), United Nations Environment Programme (UNEP), and the Green Climate Fund (GCF).
Emmanuel has notably shared insights into Fiji’s innovative approach to climate finance, particularly through the issuance of blue bonds intended to fund sustainable projects. As a Small Island Developing State in the Pacific, Fiji faces unique hurdles in securing climate financing and developing a strong legal framework. By sharing these challenges and the lessons learned, Emmanuel aims to assist fellow Coalition members in their climate initiatives.
The meeting also recognized Indonesia’s contributions as the outgoing Co-Chair and welcomed Uganda and the Netherlands as new Co-Chairs of the Coalition.
This collaborative gathering underscores a growing acknowledgment of the need for financial solutions and mutual support to confront climate challenges, illustrating a unified effort among nations. Such proactive engagement is a hopeful indicator of the potential for collective action that can drive significant progress towards a sustainable future, especially for vulnerable nations.
Additionally, this meeting resonates with Fiji’s ongoing commitment to climate advocacy. The reflections from Deputy Prime Minister and Minister of Finance, Professor Biman Prasad, underline Fiji’s efforts in securing climate finance, which are mirrored in the strategic conversations occurring at the CFMCA meeting.
Collectively, these initiatives highlight a robust dedication to combating climate change, fostering international collaboration, and amplifying the voices of small island states like Fiji in critical global dialogues.
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