Pacific Island Nations Urge Enhanced Climate Financing at COP29

By Losa Huntington

Pacific Island nations have issued a compelling call for increased climate financing at the United Nations Climate Change Conference (COP29), emphasizing the existential threats posed by climate change to their survival. Representing the Alliance of Small Island States (AOSIS), leaders from the region urged global powers to prioritize the needs of vulnerable island nations facing rising sea levels and intensifying natural disasters.

“Climate change is not a distant threat; it is here, with hotter summers, colder winters, and rising seas threatening our homes and livelihoods,” said Toeolesulusulu Cedric Schuster, Samoa’s Minister of Natural Resources and Environment and current chair of AOSIS.

AOSIS, comprising 39 small island and low-lying coastal nations, demanded a minimum allocation of $39 billion annually for Small Island Developing States (SIDS) and $220 billion for Least Developed Countries (LDCs) as part of the New Collective Quantified Goal (NCQG) on climate finance.

During the Leaders’ Summit of Small Island Developing States on Climate Change at COP29, convened by the COP29 Presidency and the Commonwealth Secretariat, leaders highlighted the disproportionate impact of climate change on SIDS. They noted that despite contributing the least to the climate crisis, these nations are grappling with extreme weather events that can destroy decades of development and infrastructure gains, often leading to mounting debt.

Grenadian Prime Minister Dickon Mitchell emphasized the financial strain on SIDS, stating, “SIDS have repaid in debt financing 18 times more than they have received in climate financing.” He called for the UN’s Loss and Damage Fund to be adequately capitalized and accessible, with control vested in SIDS to address the loss and damage they suffer annually.

Pacific leaders also criticized ongoing investments in fossil fuel infrastructure, calling them counterproductive to global efforts to reduce emissions. They stressed the need for more ambitious Nationally Determined Contributions (NDCs) under the Paris Agreement to limit global temperature rise and enhance resilience.

“These islands are not just vulnerable; they are on the frontlines of a crisis that affects us all,” Schuster said, calling on COP29 to deliver on commitments made at COP26 to double adaptation financing. He emphasized the need for grant-based solutions to help island nations implement necessary adaptation measures.

“This must be the climate finance COP that delivers hope for the next decade,” Schuster added.

The Pacific Islands’ participation at COP29 underscores the urgency of addressing climate change impacts on vulnerable nations and the importance of equitable global action.