Pacific Islands Forum Programme Advisor for Climate Finance and Resilience Team Leader, Karlos Moresi has shed light on the urgent challenge of accessing climate finance in the run-up to COP 28.
Moresi emphasised the role of securing financial resources to combat climate-related challenges.
Beyond mere funding, he stressed the essential need for targeted interventions to ensure the effective use of these resources.
Moresi highlighted the importance of clearly defining the region’s specific needs and articulating them during negotiations.
A key strategy they’re pursuing involves advocating for streamlined financial mechanisms tailored to the unique demands of the Pacific.
This includes pushing for a dedicated financial channel with specific criteria for small island states.
“So there’s two streams that one is actually been really clear what our needs are, and then be able to clearly articulate that in the negotiations and asking the financial mechanisms to simplify the excess modalities so that we can easily and also, we also calling for a specific window for SIDS.”
Moresi also disclosed ongoing efforts to establish regional financial mechanisms, exemplified by the Pacific Resilience Facility, a regionally-led initiative aimed at improving accessibility within the community.
The interview also illuminated the challenges encountered in the quest for climate finance, including navigating intricate accreditation processes.
Moresi reflected on hard-earned victories such as the milestone decision on loss and damage at COP 27, which stands as evidence of their dedication.
The team’s proactive approach to shaping tailor-made solutions underlines their dedication to addressing the critical issue of accessibility in the realm of climate finance.
SOURCE: FBC NEWS/PACNEWS