Climate Change

Two years after the Paris agreement France's president has called together the world's financial and political leaders to come up with action to meet its goals.

Pacific leaders have long called for more financial commitment and innovation to avoid catastrophe.

Emmanuel Macron's main focus for the One Planet Summit is to determine how the financial sector can better support climate action.

The changes necessary will not pay for themselves and innovation is needed.

The five countries are the Cook Islands, the Marshall Islands, Samoa, Tonga, and Vanuatu.

The company, which is owned by the Pacific Island countries, was set up after states saw a need for a mechanism to protect their people from increasing climate and seismic risks.

It provides a regional catastrophe insurance platform offering cover that can be paid out within 10 days of a triggered event, so governments have access to immediate liquidity for disaster response.

Photo: 350 Pacific Damage caused by tropical cyclone Amos 

Pacific Community Director General Dr. Colin Tukuitonga says climate change is beyond economic survival and it is now a moral issue world leaders must take a stand on.

He says Pope Francis reassured Pacific leaders of his support when they met him in Rome before the COP 23 talks in Bonn.

"Mostly people now are saying that clearly climate change is not a scientific discussion anymore it's actually a moral ethical one."

Speaking at the COP23 climate change conference in Germany, Mr Maamau said Kiribati like many countries was continuing to witness the detrimental impacts of climate change.

But he said Kiribati wanted to put aside the misleading and pessimistic scenario of a sinking/deserted nation, and would replace it with a desire to fight and/or adapt to climate change, for which it would need international help.

He said his government was launching an ambitious 20-year plan or the KV20, to build and develop the nation in the face of climate change.

The World Bank and the Fiji government released the study at the COP23 climate change talks in Bonn which are presided by Fiji.

A lead economist with the World Bank Stephane Hallegatte said the Climate Vulnerability Assessment used new methods to assess risk and to develop adaptation plans.

He said the study detailed a plan to build climate change resilience for Fiji which has been costed.

The sector was being encouraged to move away from carbon intensive investment.

The UN said finance for climate projects was flowing at a greater pace, with vibrant markets now for renewable energy, electric vehicles, green buildings and climate-smart agriculture.

The World Bank said funding needed to flow so people everywhere could benefit from low-carbon and climate resilient investments.

It hopes the UN can attract public, private, and philanthropic investors.

They hope to play a key role in discussions on how to implement the 2015 Paris agreement on cutting carbon emissions and helping to prevent global warming.

It will provide a forum to discuss paths forward through disaster risk reduction programs, legal guidelines, and potential land solutions.

The COP23 Oceans Action forum in Germany has heard the latest scientific evidence on how the effects of ocean warming, acidification, de-oxygenation, sea-level rise and increased storm activity, are making people more vulnerable to migration and displacement.

Aiyaz Sayed-Khaiyum was speaking at the COP23 Climate Conference in Bonn, Germany.

Mr Sayed-Khaiyum said while progress had been made in protecting ecosystems to enhance resilience to climate change, real incentives were needed to attract more investment in delivering nature based solutions.

Some countries and corporations are taking action to cut emissions from forest use and establish sustainable forestry management.

Meeting some members of the Pacific Islands Forum in the Vatican, the Pope shared the concerns of those exposed to frequent extreme environmental and climate events, and the impact of rising sea levels and the continuous deterioration of the barrier reef.

He blamed many of the causes of this “environmental decay” on the short-sighted human activity… connected with certain ways ‎of exploiting natural and human resources.