During COP29 in Baku, Commonwealth Secretary-General, the Rt Hon Patricia Scotland KC, urged member states to collectively advocate for keeping climate finance promises to mitigate human suffering. She announced the upcoming Pacific Resilience Facility, aimed at raising over US$1.5 billion for community resilience against climate threats by 2025. Key regional leaders expressed support for the initiative, acknowledging the urgent need for accessible climate financing, with initial pledges totaling approximately US$137 million.
The Commonwealth Secretary-General, the Rt Hon Patricia Scotland KC, emphasized the urgent need for Commonwealth nations to advocate collectively for the fulfillment of climate finance commitments during her address at COP29 in Baku. She underscored that ensuring these promises are kept is critical to alleviate human suffering caused by climate change. Scotland highlighted the upcoming launch of the Pacific Resilience Facility (PRF), set for 2025, which aims to enhance community resilience against climate-related challenges through financial support, targeting over US$1.5 billion in funding. The facility is based in Tonga and will strengthen collaboration among Pacific nations in their climate response. During her speech, the Secretary-General noted, “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, and it aligns so well with the support which the Commonwealth offers the Pacific.” She further stressed the interconnectedness of global climate challenges, stating, “Because when the ocean rises, it is not just the Pacific that suffers – it is humanity as a whole.” The event included notable speakers such as the Deputy Prime Minister of Fiji, Professor Biman Prasad, and the Finance Minister of Tonga, Tiofilusi Tiueti, who expressed unanimous support for the PRF. Baron Waqa, Secretary General of the Pacific Islands Forum, indicated the pressing nature of climate threats facing low-lying island states. He stated, “We are now at the very front line of the impacts of climate change. By 2050, climate modelling has shown irreversible inundation for some of our low-lying island states.” Waqa urged the rethinking of climate financing to benefit Pacific communities urgently. To date, the facility has garnered approximately US$137 million in pledges, including contributions from the United States and Nauru, representing a promising start to addressing the immediate and future climate challenges faced by the Pacific region.
The pressing issue of climate finance is critical, particularly for Commonwealth nations that are at the forefront of climate change impacts. These countries, especially in the Pacific, face severe risks from climate-related disasters, which necessitate robust financial support to build resilience and adapt to changing environmental conditions. The Pacific Resilience Facility is a strategic initiative aimed at addressing these challenges, focusing on both immediate relief and long-term sustainability. With significant investments targetting the limitation of global temperature rise, this initiative exemplifies a collaborative approach to climate finance within the Commonwealth framework, enhancing the capacity of vulnerable regions in the Pacific.
The Commonwealth’s unified call for adherence to climate finance promises is a vital step towards mitigating the impacts of climate change on vulnerable nations. The establishment of the Pacific Resilience Facility represents a significant advancement in supporting community resilience and preparedness against natural disasters. As this initiative gathers momentum with concrete pledges, it highlights the importance of collaborative efforts in addressing global climate challenges. Ensuring that financial commitments are met is essential not only for the Pacific but for humanity as a whole, as climate issues transcend national borders.
Original Source: thecommonwealth.org
