Pre-COP28 talks 'a real chance to protect the most vulnerable'
Lower-income nations hope Climate and Development Ministerial meeting will help transform adaptation finance.
Clare Shakya, strategic director of IIED, welcomed the announcement of the 2023 Climate and Development Ministerial and said: “Overhauling the way climate finance works is vital because, even if greenhouse gas emissions were to stop overnight, major polluters have already locked in a certain amount of climate change that will hit the world's poorest countries hardest.
“These nations believe rich governments should commit to climate justice by backing their plans to protect themselves from the ferocious wildfires, droughts and floods global warming is bringing. This adaptation work been underfunded for years, while the international community has repeatedly failed to provide the annual US$100 billion of financing it promised a decade ago.
“With Malawi and Vanuatu hosting this meeting along with the UK and UAE, there's a real chance to change all that to the benefit of vulnerable people who've done the least to cause the climate crisis.”
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Notes to editors
For background information on why low-income countries are demanding reform of the climate finance system, please see the IIED publications below:
- Transformational change is needed in the adaptation finance landscape for LDCs and SIDS
- Learning from adaptation financing that is working for LDCs and SIDS
- Reform the global financial system to support transformational adaptation
- Poorest countries spending billions more servicing debts than they receive to tackle climate change