At COP29 in Baku, Commonwealth Secretary-General Patricia Scotland stressed the need for Commonwealth countries to demand adherence to climate finance commitments to combat human suffering. She announced the upcoming launch of the Pacific Resilience Facility (PRF) in 2025, aimed at enhancing community resilience to climate change with a target of raising over US$1.5 billion, emphasizing the urgent need for unified action against climate change.
At the COP29 conference held in Baku, Commonwealth Secretary-General, the Rt Hon Patricia Scotland KC, emphasized the necessity for Commonwealth nations to unify their efforts in advocating for climate finance commitments. She contended that adherence to these financial promises is crucial to mitigate the humanitarian crises stemming from climate change. The event coincided with the announcement of the Pacific Resilience Facility (PRF), set to launch in 2025, which aims to bolster community resilience against climate change impacts and natural disasters. The PRF, located in Tonga, seeks to generate over US$1.5 billion to help maintain global temperature increases within the 1.5 degrees Celsius threshold established at COP21 in Paris. The Commonwealth Secretary-General remarked, “The Pacific Resilience Facility is an idea whose time has come: a Pacific-owned, Pacific-led solution which will help communities to achieve both at once… climate finance promises must be kept.” She underscored the interdependence between the fate of the Pacific Islands and the broader global community, stating, “When the ocean rises, it is not just the Pacific that suffers – it is humanity as a whole.” Alongside leaders from Fiji and Tonga, the Secretary-General notably endorsed the PRF, which has already attracted pledges amounting to approximately US$137 million. This includes commitments from the United States and contributions from several other nations. Baron Waqa, Secretary General of the Pacific Islands Forum, reiterated the urgency of the climate crisis, highlighting the existential threats faced by low-lying island states due to climate change.
Climate finance refers to the financial resources allocated to assist developing countries in tackling climate change impacts. It encompasses public and private funding aimed at supporting adaptation and mitigation efforts. The Commonwealth Secretary-General’s statements at COP29 reflect a growing global awareness of the urgent need for financial commitments in the face of escalating climate change challenges. The Pacific Resilience Facility (PRF) seeks to innovate climate finance mechanisms tailored for vulnerable Pacific communities, aiming for more accessible funds and proactive solutions to climate-related threats.
The discourse presented at COP29 by the Commonwealth Secretary-General highlights the critical role of unified advocacy in securing climate finance commitments. The anticipated launch of the Pacific Resilience Facility underscores the need for innovative solutions to bolster resilience against climate impacts within the Pacific region. As nations come together, the need for executing these financial promises becomes increasingly vital not only for local communities but for global welfare, given the interconnected nature of climate change effects.
Original Source: thecommonwealth.org
