Cook Islands prime minister Mark Brown has sternly reminded the world that the Green Climate Fund Global Programming Conference should not be just another event where the leaders come to take a picture and forget about the commitments made.
“Just a matter of days ago, we heard two disturbing, and frankly critically concerning news items linked to the Paris Agreement,” Mr Brown said.
“Firstly, that without any further action on the part of all countries, sea-levels are set to rise by a range of up to 70cm, and secondly that the G20, comprising 80 per cent of global emissions, failed to agree to collective commitment as pledged under COP26 in Glasgow.
“What then do these two issues mean for us? Is attending COP27 against this backdrop going to provide any further confidence in humanity’s collective will to tackle this climate emergency?”
The PM’s harsh statement at an event where the world is present is a reminder to other nations how their decisions impact the Pacific nations.
Mr Brown said the Paris Agreement was a collective treaty, one in which all nations are engaged together for the benefit of one world.
“In turn we must approach climate finance in the same way; up to 3.5 per cent of our nation’s GDP is towards funding climate related activities. The US$100 billion which GCF seeks to address climate change globally only represents 0.1 per cent of the world’s total GDP, a very modest comparison,” he said.
“Today, we are not able to consider this approach, so we turn to our partners and seek to strengthen those relationships. I want to understand under our Investment Plan of Action, where are the sources of funding? And who are those willing partners?”
The term “climate finance” has been used in a narrow sense to refer to transfers of public resources from developed to developing countries, in light of their UN Climate Convention obligations to provide new and additional financial resources, and in a wider sense to refer to all financial flows relating to climate change mitigation and adaptation.