Vanuatu Desperately Needs Increased Climate Finance - Minister For Climate Change

10/11/2024 5:10:25 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 11. Vanuatu needs more climate finance, Vanuatu's Minister for Climate Change John Salong said in a video message to the pre-conference meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (Pre-COP29), Trend reports.

“The Sovereignty and territorial integrity of Vanuatu are threatened by humanity's collective failure to divest from planet-killing fossil fuels and failure to mobilize sufficient adaptation funding for those who desperately need it. Our own domestic actions - from budgets to policies to international commitments at the UN International Court of Justice, the International Criminal Court, and elsewhere - demonstrate our unwavering commitment to transformation,” he said.

According to him, small island developing states and least developed countries have unique vulnerabilities and situations that necessitate new and increased collaboration among donors and development partners.

“The gap in climate adaptation funding is serious for us. This gap is existential in Vanuatu as we are facing climate impacts that have cost us over 50 percent of GDP in the last three years,” the Minister noted.

He also added that doubling the financing of adaptation by 2025 is essential.

The preliminary meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), i.e., Pre-COP29, which precedes the climate summit itself, started its work in Baku.

Pre-COP29 in Baku takes place under the motto“Raising Ambition and Ensuring Action.”

The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will be held this November in Azerbaijan. The decision was made at the plenary meeting of COP28 held in Dubai on December 11 last year. Within two weeks, Baku will become the center of the world and will host about 70-80,000 foreign guests.

The UN Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference in the climate system. The abbreviation COP (Conference of Parties) means“Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.

A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Berlin, and its secretariat is located in Bonn.

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