Today's Edition
ISIDORA CIRIC (DUBAI)
In the midst of COP28, a pivotal conference held in the United Arab Emirates focusing on global climate action, world leaders gathered for the Global Stocktake (GST) High-Level Event on Adaptation, attended by Aletihad, to address the urgent need for climate resilience.
The event, marked by a sense of urgency and collective responsibility, emphasised the need for an inclusive approach to climate adaptation, addressing the financing gap to deliver tangible solutions. The GST represents an unprecedented opportunity to align global adaptation goals, bringing together stakeholders to minimise climate-related losses and damages.
A key focus was the Sharm El Sheikh Adaptation Agenda, aiming to enhance the resilience of over 4 billion people by 2030 to accelerate transformation across five impact systems: food and agriculture, water and nature, coastal and oceans, human settlements, and infrastructure, and including enabling solutions for planning and finance.
The importance of nature-based solutions and the advancement of agricultural practices to combat the adverse effects of climate change were also discussed.
Giorgia Meloni, Prime Minister of Italy, underscored the need for the GST to be a turning point, sending a clear political message, and establishing a robust framework for climate adaptation.
Adaptation is a priority for Italy, Meloni stressed, noting that the country is aware of its responsibilities in internal and global contexts.
Italy, identified as a climate hotspot, intends to direct approximately 70 per cent of its 4.2 billion-euro climate fund to the most vulnerable African nations. Italy also announced a contribution of 100 million euros to the Loss and Damage Fund, a crucial mechanism under the United Nations Framework Convention on Climate Change (UNFCCC) framework for assisting countries most affected by climate change impacts.
Mobilising enough resources will not be sufficient if the parties fail to improve access to those resources and work on insurance schemes as Italy is doing, Meloni added.
Xavier Espot Zamora, Prime Minister of Andorra, spoke about Andorra's minimal global emissions yet significant climate challenges.
Highlighting the increase of climate issues in the Pyrenees region, Zamora stressed Andorra's commitment to sustainable development, noting that the temperature has increased by over 0.24 degrees Celsius, and that the snowfall may be reduced by 50 per cent by 2050 in the region.
The Prime Minister said that Andorra is broadening the scope of action by joining forces with local stakeholders and the private sector.
He also highlighted that Andorra was the first to submit the Biennial Transparency Reports, more than a year ahead of the deadline, as set by the 2015 Paris Agreement.
Mark Rutte, Prime Minister of the Netherlands, addressed the undeniable impact of climate change, with a particular focus on water as the "engine of climate adaptation".
He noted that the gravity of the situation is apparent to everyone that even doubters cannot escape the seriousness of it.
The Netherlands pledged 15 million euros to a new fund for loss and damage caused by climate change and an additional 25 million euros to enhance disaster response in Africa's Least Developed Countries (LDCs).
He stressed that implementation is key, and that getting into action mode and accelerating action is crucial, especially in the field of adaptation.
Robert Abela, Prime Minister of Malta, discussed the disproportionate effects of climate change on Malta, a small island state.
Malta has achieved over 60 per cent reduction in greenhouse gas emissions and is actively expanding its renewable energy capacity.
Furthermore, Malta has quadrupled its contribution to the Global Climate Fund, which continues to support other island nations to respond to the challenges of climate change.
Andrej Plenkovic, Prime Minister of Croatia, highlighted Croatia's vulnerability to climate change and its commitment to contribute 1.7 million euros to climate adaptation efforts.
The UAE, as the host nation, set a formidable example, earlier pledging $100 million to the Loss and Damage Fund and $200 million to assist low-income countries through the International Monetary Fund's Resilience and Sustainability Trust (RST), showcasing its commitment to climate initiatives.
The commitment comes in the form of Special Drawing Rights, pledged to the RST, which provides long-term concessional funding for climate resilience and pandemic preparedness.
The RST supports climate resilience in low- and middle-income economies and countries vulnerable to the impacts of climate change.
