The New Collective Quantitative Goal (NCQG) on climate financing should become a joint commitment for a fair and effective solution to the climate crisis, President of the Republic of Palau, Surangel Whipps, said at a high-level meeting during COP29, Report informs.
Whipps thanked Azerbaijani President Ilham Aliyev for the excellent organization of the climate conference and support in addressing the problems of small island states.
"Palau, like many small island countries, is acutely experiencing the consequences of climate change. Climate change threatens our food security, infrastructure, economy, culture, and very existence," he said.
According to him, the NCQG should become a joint commitment for a fair and effective solution to the climate crisis, and provide easy access to financing sufficient to meet countries' needs for adaptation, mitigation, and compensation for loss and damage.
"We must make decisions and act. Our planet and our people depend on it. We call on the global community to fulfill their commitments under the Paris Agreement to prevent the planet's temperature from rising above 1.5 degrees," said Whipps.
The politician also emphasized that Palau has achieved significant success in fighting the climate crisis and prioritizes green energy transition. To combat climate problems, Palau calls on industrialized countries to accelerate the phase-out of fossil fuels, he said.
"Palau seeks additional partnership in implementing the Blue Pacific Prosperity Plan, which was launched at COP28 in Dubai and invests in blue priorities such as food security, sustainable fishing, coral reef protection, and coastal defense. By supporting the blue economy and protecting marine resources, we ensure security. Our island communities contribute to global climate goals and vital biodiversity conservation. It is crucial that all countries be part of climate solutions," said Whipps.