SIDS and other developing countries have been calling for financial mechanisms to address loss and damage for many years. This has finally led to the long-awaited decision, at the COP27, to establish a fund for developing countries to avert, minimize, and address loss and damage associated with the adverse effects of climate change. As stated by UNDP’s Administrator Achim Steiner, “This represents a significant step forward in the global fight against the climate emergency”. But he also added that: “A just transition to clean and sustainable sources of energy is critical if we are to reduce emissions and limit global heating to 1.5 degrees Celsius.” 

In fact, several countries, as well as international organizations expressed concerns that the level of climate ambition was not compatible with the 1.5 degree objective. An objective that remains critical for the survival of many low-lying islands. IUCN, the International Union for Conservation of Nature, while welcoming the recognition of the key role of Nature-based Solutions in addressing climate change, has reminded that these should not replace sharp emission cuts.   

The interlinked nature of the climate and biodiversity loss raises the expectations from the upcoming 15th Conference of Parties of the Convention on Biological Diversity where parties will be negotiating the post-2020 global biodiversity framework that is expected to have a specific target dedicated to climate change adaptation and mitigation. As the oceans play a key role in regulating the climate, this becomes of particular relevance to SIDS who are custodians of 19.1% of the world’s Exclusive Economic Zones.

 

Read more in SIDS Bulletin 67.

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