Pacific Islanders Say Climate Finance “Essential” for Paris Agreement

As Pacific Islanders contemplate the scale of devastation wrought by Cyclone Pam this month across four Pacific Island states, including Vanuatu, leaders in the region are calling with renewed urgency for global action on climate finance, which they say is vital for building climate resilience and arresting development losses. In a recent public statement, the Marshall Islands’ president, Christopher Loeak, said, “The world’s best scientists, and what we see daily with our own eyes, all tell us that without urgent and transformative action by the big polluters to reduce emissions and help us to build resilience, we are headed for a world of constant climate catastrophe.” Progress on the delivery of climate funding pledges by the international community could also decide outcomes at the United Nations Climate Change Conference to be held in Paris in December, they say.

“It is reassuring to see many countries, including some very generous developing countries, step forward with promises to capitalise the Green Climate Fund. But we need a much better sense of how governments plan to ramp up their climate finance over the coming years to ensure the Copenhagen promise of 100 billion dollars per year by 2020 is fulfilled,” Tony de Brum, minister of foreign affairs for the Republic of the Marshall Islands, told IPS. “Without this assurance, success in Paris will be very difficult to achieve.”The Pacific Islands are home to about 10 million people in 22 island states and territories with 35 percent living below the poverty line. The impacts of climate change could cost the region up to 12.7 percent of annual gross domestic product (GDP) by the end of this century, the Asian Development Bank (ADB) estimates. The Pacific Islands contribute a negligible 0.03 percent to global greenhouse gas emissions, yet are the first to suffer the worst impacts of global warming.

http://www.ipsnews.net/2015/03/pacific-islanders-say-climate-finance-essential-for-paris-agreement/