Assistant Minister for Finance, Esrom Emmanuel, is currently participating in the annual Deputies and Partners Meeting of the Coalition of Finance Ministers for Climate Action (CFMCA). This significant event brings together representatives from over 90 member countries, united in their efforts to address the economic challenges associated with climate change.
The meeting emphasizes the development of strategic priorities, work planning for 2025 and beyond, and enhancing the capabilities of finance ministries to combat climate-related issues. CFMCA operates as a global initiative, established under the leadership of finance ministers, aiming to bolster fiscal and financial responses to climate change.
Over the course of the three-day conference, Assistant Minister Emmanuel is engaging with delegates from nations facing varying degrees of climate challenges, representing approximately 43% of global carbon emissions and 69% of global GDP. The discussions focus on best practices, peer learning, and the crafting of policies that promote climate action, supported by technical assistance from international institutions such as the IMF, the World Bank, the Asian Development Bank (ADB), the United Nations Environment Programme (UNEP), and the Green Climate Fund (GCF).
During this meeting, Esrom Emmanuel has shared Fiji’s approach to climate finance, notably its issuance of blue bonds, which are designed to finance sustainable projects. As a Pacific Small Island Developing State, Fiji encounters particular obstacles in accessing climate financing and establishing a robust legal framework. Emmanuel’s insights into these challenges and the lessons learned are aimed at assisting other Coalition members in their climate initiatives.
The meeting also acknowledged the contributions of Indonesia, the outgoing Co-Chair, and welcomed Uganda alongside the Netherlands as new Co-Chairs of the Coalition.
The collaborative nature of this gathering reflects the increasing recognition of the necessity for financial solutions and mutual support in the face of climate challenges, demonstrating a united front among nations. This proactive engagement serves as a hopeful reminder of the potential for collective action to drive progress toward a sustainable future for vulnerable nations.
For additional context, this meeting ties into Fiji’s ongoing commitment to climate advocacy, as highlighted by Deputy Prime Minister and Minister of Finance, Professor Biman Prasad, in previous discussions regarding Fiji’s participation in multilateral climate talks like COP. His emphasis on securing climate financing is echoed in the strategic discussions currently taking place at the CFMCA meeting.
Overall, these efforts signify a strong dedication to tackling climate change, fostering international cooperation, and ensuring that the voices of small island states like Fiji are heard in critical global dialogues.
Leave a comment