Page 11 - IB August 2021

Climate Change Climate Change

entitled “Te Mana o Te Moana”. The report, introduced by the the OECD uses to define climate finance.
former Prime Minister of Tuvalu, the Hon Enele Sopoaga, high- The lack of climate change funding was highlighted in a
lights the critically insufficient Nationally Determined Contri- statement made by the Alliance of Small Island States (AOSIS)
butions presented by the world’s highest polluters. Neverthe- at this year’s G20 meeting. AOSIS noted that the International
less, that report goes on to say that six of the world’s top 15 Monetary Fund had stated in 2017 that the unfunded cost of
highest emitting countries have now proposed or submitted climate change is well over USD$4 trillion. It is clear to see
stronger emissions reductions targets, including China, the US that there is a major shortfall in climate change finance, even
and the EU: three of the top four emitters. Unfortunately, the if the promised $100 billion had been met. AOSIS went on to
report also notes that a further six top emitting nations have state that the value of the coal, oil, and gas industry is not
submitted targets that either do not increase their ambition worth the losses we are seeing globally. This does not make
or that decrease it in real terms; namely Russia, Indonesia, economic sense but demonstrates that the politics of the fos-
Brazil, Mexico, South Korea, and Australia. It is clear from the sil fuel industry seems to be far more important than the rest
report that much more needs to be done. of the global economy and its people.
Representation at COP 26 is a major concern for the Pacific.
Expectations for COP 26 The Ministers also discussed this with President designate
Pacific Island Ministers recently met with the President des- Sharma. Due to COVID travel restrictions and quarantine
ignate Alok Sharma of the next UN climate change conference requirements it seems highly unlikely that many Pacific Island
(COP 26) to be held in Glasgow in November. Due to COVID countries will make it to Glasgow and equally uncertain that
concerns, this was an online meeting. The Ministers empha- they will get back. This would be a major imbalance in the
sised the need for emissions to peak by 2025 to ensure that process if the Pacific was underrepresented. The most vulner-
Pacific Island countries are protected from the most severe able need a voice in Glasgow. Pacific Ministers suggested
effects of climate change. that proxies may need to be found for their representation
Due to the growing concern about the impacts of climate or remote participation may be required. Remote participa-
change, the Pacific Ministers emphasised the need for G20 tion may work when Ministers need to give speeches, but the
countries to commit to higher mitigation targets at COP 26. nitty-gritty of negotiations need to be handled face to face.
Pacific Ministers highlighted the need to finish the Paris At a recent meeting of Pacific Island climate change nego-
Agreement rulebook. This includes a decision on how to man- tiators organised by AOSIS and the Secretariat of the Pacific
age the market mechanisms established in the Paris Agree- Environment Program, participants expressed their concern
ment. This is a tricky issue and negotiations fell apart at the that they wouldn’t be able to attend the COP. Even if the COP
last minute at the COP in Madrid. Brazil insisted that carbon went into a hybrid mode of in-person and on-line participa-
credits generated under the Kyoto Protocol should be carried tion, the time difference would be an enormous disadvantage
over into the Paris Agreement. But the Pacific was and con- for Pacific Island countries. Many negotiations take place in
tinues to be adamant that this would undermine the targets the corridors or over a cup of coffee. Virtual meetings don’t
set under Paris. Creating a carbon market that delivers a real really cater for this informal part of the process.
reduction of emissions and not just a transfer of responsibil- The Pacific has a long reputation of boxing above its weight
ity is another key issue. In negotiation speak this is known as in climate change negotiations and Pacific delegations need
“overall mitigation in global emissions”. Essentially countries to be in Glasgow. We also need strong representation from
that trade in the carbon market would need to sacrifice part Pacific civil society organisations as they are the voice of the
of the traded units, so that buyers would take a reduced most vulnerable. How this will happen is certainly not clear.
amount. The sacrificed units would be withdrawn from the If we are to see a significant change in the increasing warm-
accounting system. As a consequence, the atmosphere would ing of the global climate, and take heed of the IPCC report,
be better off. we need to take decisive action now. The world cannot afford
Another key issue mentioned by Pacific Ministers related the costs of more wildfires, floods, warming oceans, cyclones
to setting a common time frame for when countries would and everything else that comes with rising greenhouse gas
submit their emission reduction goals, their NDCs. Pacific Min- emissions. Glasgow should be the key point for a dramatic
isters want a 5-year time frame so that NDCs can be revised ramping up of effort to reduction greenhouse gas emissions.
regularly to meet the challenge of increasing concern about It should be the pivot for the global community to commit
rising emissions. Other countries, notably Europe and China to a rapid phase out of the use of fossil fuels. Unfortunately,
are resistant to this 5-year timetable and prefer a 10-year without the active participation of the Pacific, the voice of
period. the most vulnerable will not be heard. Key negotiators and
Naturally enough, the issue of climate change finance was civil society organisations will be left at home. The COP may
another key ask of the Pacific Ministers. The costs of address- become a Boris Johnson celebration of underachievement.
ing the impacts of climate change are growing exponentially.
A USD$100 billion by 2020 climate finance promise made by Dr Ian Fry is the former Ambassador for Climate Change and
developed countries in 2010 is yet to be met. Recent OECD Environment, Tuvalu.
reports suggest that current pledges are around $60 billion,
and this figure includes the rather generous estimation that editor@islandsbusiness.com

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