Boosting the flow of climate finance, with an increased proportion going to adaptation in vulnerable countries is one of the top three priorities of Fiji’s global action agenda.
This was highlighted by Prime Minister and COP23 President, Voreqe Bainimarama while delivering his speech during a session on Climate Finance at the 9th Petersberg Dialogue in Berlin Germany.
He urged the 35 countries, which were represented by Environment Ministers, Climate Ambassadors and Negotiators, to examine Fiji’s experience in main streaming financial instruments like Green Bonds and Climate Bonds.
Bainimarama also highlighted how Fiji became the first emerging economy to launch a Sovereign Green Bond on the London Stock Exchange.
He says without resolute action from governments, developing nations will have no hope of meeting the commitment made in Paris to mobilise $100 billion a year in public and private finance to climate vulnerable nations by 2020.
Bainimarama also urged developed countries to guide investors and markets by removing unnecessary fossil fuel subsidies and pricing carbon.
Fiji received widespread commendation from participating countries for introducing the Talanoa Dialogue concept in the road to implementing the Paris Agreement as it has been adopted in regional and national climate meetings in different parts of the world.
