Small island states are at the forefront of enormous injustice that threatens their very future due to rising sea levels, UN Secretary-General Antonio Guterres said at Leaders’ Summit of the Small Islands Developing States on Climate Change, according to Report.
Their economies are destroyed and development achievements have been turned to ruins; this injustice must stop, he said, adding that G20 countries account for about eighty percent of global emissions.
He noted that small island developing states demonstrate what climate ambitions should look like, as they are the first responders.
According to Guterres, the world must follow these small countries and support them.
He urged to spare no effort to maintain the 1.5 goal, which means reducing global emissions by nine percent annually until 2030 and phasing out fossil fuels, he said. This means every country must submit new economy-wide national climate action plans to COP30 that align with the 1.5-degree goal.
The largest emission sources – G20 – should lead this process, he believes, adding that the UN supports countries in achieving these goals through its Climate Pledge initiative.
He noted that these countries deserve support in fighting a crisis they had virtually no part in creating.
The UN chief urged to take loss and damage seriously, noting the need for significant contributions to the Loss and Damage Fund – so it can make a real impact.
According to Guterres, developed countries must fulfill their commitment to double adaptation financing to at least $40 billion annually by next year. This is an important step toward closing the adaptation financing gap.
Third, regarding financing, he calls for reforming the international financial architecture, including effective debt relief. It commits countries to advance the SDG Stimulus of $500 billion annually, said the UN Secretary-General.
UN chief noted the need for a new climate finance goal that mobilizes the trillions of dollars in financing needed by developing countries – with a significant increase in concessional public funds. This goal must provide clarity on how money will be mobilized, he said, urging to use innovative sources such as fees from aviation, shipping, and fossil fuel extraction.
It should also include a significant increase in capitalization and reforms of multilateral development banks, including enabling them to attract much more private financing at reasonable prices, he said and called for using their moral authority to demand action, leadership, and justice.