New Delhi: COP28 president Sultan al-Jaber has underscored the importance of intensifying efforts to address adaptation finance gaps and making climate finance more accessible to vulnerable countries.
Speaking at the third Climate and Development Ministerial, co-hosted by the UK, Vanuatu, and Malawi, Al Jaber said, “People and the planet lie at the heart of the climate process, which is focused on protecting lives, livelihoods and nature.”
He added, “To guarantee an inclusive and equitable transition to low-carbon and resilient growth, the voices of emerging and developing countries must not go unheard. COP28 must leverage an adequate response to the Global Stocktake and set out a pathway to fill the financing gaps and address shortcomings in the global climate finance architecture.”
The UK’s energy security and net zero minister, Graham Stuart, reiterated the country’s commitment to supporting the most vulnerable, highlighting the UK’s $2 billion contribution to the Green Climate Fund this year. He said, “Together with our international partners, we will delve into the challenges and opportunities…to keep 1.5°C within reach and encourage every nation to join the UK on a pathway to net zero.”
The urgency of the climate issue was further emphasized by the Vanuatu minister of climate change adaptation Ralph Regenvanu. “As we gather today, the people of Vanuatu are facing a landscape destroyed by Cyclone Lola. Climate impacts are growing daily in the Pacific Islands,” he noted. He called for increased support for adaptation plans and programs in Small Island Developing States.
Similarly, Malawi’s minister for natural resources and climate change Michael Usi, stressed the unique challenges faced by least developed countries. “For years we have been calling for improved access and delivery of climate finance, and more at the local level,” he remarked.
During the ministerial, Jaber highlighted the four pillars of the COP28 Presidency’s action agenda: fast-tracking the energy transition, nature, lives and livelihood, and inclusivity. He also acknowledged the initiatives and actions the COP28 presidency is backing, including the $100 billion annual funding commitment and the replenishment of climate-related funds.
Furthermore, the UAE’s recent pledge of $4.5 billion for clean energy initiatives at the Africa Climate Summit was emphasized, underlining its commitment to promoting green growth.
The ministerial, held in Abu Dhabi, was an essential step leading to COP28, emphasizing the importance of supporting nations most affected by climate change in transitioning to a climate-resilient economy.
