Ali Serim Calls for Special Platform for Small Island Developing States at COP29 to Address Urgent Climate Needs

To bring clarity to what true climate finance entails, Ali Serim, a climate finance authority and climate advocate, is calling for COP29 to establish a dedicated platform for Small Island Developing States (SIDS) to secure urgently needed funds and promote their national climate finance mechanisms. Serim emphasizes that SIDS, which face some of the most severe impacts of climate change, need immediate financial support tailored to their unique vulnerabilities.

"SIDS are on the front lines of climate change, experiencing devastating impacts that threaten their very existence," Serim stated. "COP29 must recognize this and provide a special platform to address their critical needs, prioritizing direct funds to help them adapt and build resilience".

As an example of the kind of climate finance mechanism urgently needing support, Serim highlighted Tonga Climate Change Trust Fund. This Fund provides supplementary financial support for both pipeline and ongoing adaptation and mitigation efforts, including community-based solar electrification projects and coastal protection measures. It consists of two components: an endowment account, comprising 80% of the initial capital invested in low-risk financial instruments, and an operational account dedicated to financing projects.

The Fund is designed to empower both the government and local communities, encouraging them to take ownership of climate-related activities at multiple levels. This structure allows Tonga's government to transition from short-term, project-based initiatives to sustainable, long-term programs. Through this shift, the Fund supports climate resilience on a national scale, backed by sustainable financing mechanisms that provide lasting impact.

Serim is calling on developed countries, sovereign wealth funds, and major oil companies to contribute to such funds as part of their responsibility to support the world's most vulnerable nations. "Developed nations and sovereign wealth funds must invest in the survival and sustainability of SIDS," Serim remarked. "Additionally, major global oil companies should step up and donate to these funds as part of their commitment to a sustainable future".

Ali Serim urges delegations at COP29 to ensure that this platform for SIDS should be established and that tangible financial commitments should be made to support initiatives like Tonga Climate Change Trust Fund. Through such support, COP29 can set a precedent for true climate equity, empowering SIDS to address climate challenges with resilience and autonomy.