“Climate finance cannot be about loans, we cannot give our children the burden of servicing our debts.”
That was the message Oxfam in the Pacific’s Regional Director, Raijeli Nicole delivered at a recent online talanoa focused on ‘Climate Finance Effectiveness in the Pacific: Are we on the right track?’ hosted by the Pacific Islands Forum (PIF) in partnership with the United Nations Development Programme (UNDP) and the UK Government.
For Oxfam, and other participants in the talanoa, the answer to that question is ‘no- we are not on the right track’.
Rich countries will continue to miss a longstanding pledge to provide poor countries with US$100bn a year in climate finance . . .