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But the answer is not withdrawal. The answer is to reform, renew and reinvest. The UN 80 initiative offers an opportunity to make the United Nations more efficient and more effective. The European Union also continues to call for a comprehensive reform of the United Nations Security Council to make it more effective, inclusive, democratic and accountable. The European Union will continue to contribute to strengthen the United Nations politically, financially and through concrete actions. Because the best argument for multilateralism is what it delivers on peace and security. With the treaty of Non-Proliferation of Nuclear Weapons on Climate action, with the Paris Agreement on Poverty and Health, with the global response to Covid 19. The truth is, when we act together, multilateralism delivers for people. And that is why this week, the United Union, the European Union has launched together with Australia, Barbados, Brazil, Canada, India and Kenya. The P4M partners for multilateralism, international law, peace and prosperity. Our initiative aims to be an open platform for partners from all parts of the world who are ready to defend common principles and work towards practical solutions. It is a network for dialogue, coalition building and practical cooperation. It will support the work of United Nations and other multilateral formats. It will help to build bridges across regions, and it will contribute to advancing the reform and modernization of the United Nations and the multilateral system, helping to turn shared commitments into concrete action. And I invite all the nations in the chamber to join this initiative and endorse the P4M. The P4M declarations, excellencies, excellencies.
Sovereignty for all peoples across the board. My third conviction is that we must not yield to a divided world. Many describe this rift. Many talk about this rift between the North and the South. We won't be able to tackle any of the challenges our planet faces if we give in to this rift, and it is fueled by double standards, this rift. However, we need the North and the South to reconcile so that they can tackle climate health development challenges. And that's why over the last few years, we've launched many more initiatives. and the African Union. When it came to shoring up economies together with the International Monetary Fund to reform special drawing rights and make progress for African economies. And we held our word $100 billion in special drawing rights allocated to helping African countries. We must stay the course, ensuring that we remain united without pitting anyone against anyone else. That is why it's important that the global health infrastructure must remain intact. We will continue reforming that architecture, but we will never weaken the WHO. We must put the finishing touches on the Pandemics Treaty. Africa CDC should be in a position to combat Ebola ever more effectively. We must be clear sighted as we reform our official development assistance, ODA. We must ensure that our investments exhibit greater solidarity, that they're more effective. This is what we did with the Paris Pact for people and Planet in 2023. Also at the Africa Summit in Nairobi, we also agreed to build a new consensus around investment that stands in solidarity with other states. Countries are allocating funds, and yet the needs of the countries of the global South are growing as well. We need to go faster and go further to help the IMF and the World Bank To be more effective, we must bolster the effectiveness of the instruments at their disposal so that we can mobilize the private sector better, creating guarantee mechanisms to ensure that in emerging economies, middle income countries and developing countries, a more effective response can be mounted to the problems they face. This is the kind of new partnership we must forge in order to ensure that there is no gap, no division, between the North and the South. In a similar vein, this north south partnership requires and will require us to wield our capacity to reopen a dialogue about our common history, our cultural relationships and remembrance. This is what France has tried to do over the last few years, working on the basis of joint scientific works we've instituted a number of bills to ensure that we restitute cultural artifacts in a way, forging a partnership in the name of culture, history and remembrance. And this with a number of countries of the South, for instance, with Ghana and together with all interested parties, all interested partners, we will work on restorative justice reparations. This is a matter of respect, and it is on this respect that the partnership between the North and the South will be built. Moving on global trade, it needs to be more effective and more equitable. This is what we sought to achieve at the G7 meeting France convened, bringing together countries of the South, ensuring that there is common ground, a dialogue going beyond the G7 with China, India, Brazil, South Korea, Kenya the list goes on so that we can improve our collective organization, ensure that we work on rare earth minerals, rare earth metals, critical minerals. As well as other areas. At the end of the day, we must shoulder this responsibility, ensuring that there is no rift between these two blocks. And in a similar fashion, we must not yield on the climate and biodiversity. We've done a great deal over the last few years, ever since the Paris Agreement 11 years ago. The principles are still valid today and must be defended. We must stay the course. But I understand the doubts some harbour on this front. Let us not cede. If we are to defend our planet, defend the climate, defend biodiversity, we need proactive multilateralism and this is what we try to achieve at the One Planet Summit.
This purpose binds our national advancement to our continent's progress, and to our responsibility to contribute to a peaceful, equitable and prosperous world. We understand that governments and multilateral institutions and trusts, when their decisions improve lives. Yet none of these gains will matter if we turn a deaf ear to the trace gathering around our borders and further appeal, we inhabit the only planet known to sustain human life. And as long as that scientific park holds, we cannot pretend that we are insulated from complex as well geography or personal exemption from the consequences of a fractured world. Mr. president, we reject the false choice between development and climate action. Developing countries, most industrialised, eradicate poverty and expand energy access through low carbon pathways supported by technology transfer, capacity building and climate finance. Africa Contributes less than 4% of the greenhouse gas emissions yet via disproportionate consequences. Nigeria remains committed to the Paris Agreement and an equitable energy transition that reflects historical responsibility and capacity. While protecting people's right to development under our Energy transition Plan, we are working towards net zero emissions by 2060 while expanding access to affordable, reliable and sustainable energy. This approach combines renewable energy, clean cooking and gas as a transitional fuel with climate, smart agriculture and nature based solutions. Finance must be governed by equity and shared responsibility rather than charity. With international commitments translated into accessible, predictable and adequately funded mechanisms that enable developing countries to pursue climate action without compromising development objectives.
We carry no larger agenda other than to ensure that the United Nations will do better. Mr. president, as we face a world in which scientists tell us overshooting the 1.5 degree temperature limit that we agreed in Paris is increasingly likely. We all need to wake up and act. Our focus now must be on preventing or minimizing the overshoot. Shortening the time we spend above 1.5, and doing everything possible to fight our way back. As we gather in Tuvalu, Fiji and Türkiye for this year's climate pre-COP and COP, our response to the threat of overshoot must be overwhelming. A much accelerated transition away from fossil fuels is the only logical response. Continued investment in fossil fuels is not only immoral but irrational. Technologies exist which provide secure, stable, zero emissions energy. We are employing them in my own country, where in the next 18 months, renewable energy will cut fossil fuel use in our remote outer islands by 88%, giving many access to electricity for the first time. We must do everything in our power to accelerate the deployment of renewables and to reduce fossil fuel production and consumption with equal speed. This includes shipping, where we have the opportunity at the International Maritime Organization to adopt binding regulations that will place international shipping on a clear path to net zero by 2050, and generate the revenue required to ensure a just and equitable transition. Mr. president, the denials and delays that have slowed the transition away from fossil fuels mean that countries like mine are already experiencing grave challenges. We have developed our national adaptation Plan, working across ministries and with our people to determine how to make a safe future. Adapting is costly and takes time. Even as we've seen schools destroyed by rising seas, salt water poisoning our wells, and disease outbreaks linked to environmental change. This injustice must be addressed. Our communities deserve restitution. The Marshall Islands and vulnerable people everywhere need sufficient, timely and accessible finance for adaptation and loss and damage. Those who have profited to the detriment of the many must pay. We have created homegrown institutions that are ready and willing to respond, like the Pacific Resilience Facility, a regionally managed platform, and the Marshall Islands Adaptation and Resilience Trust Fund, designed to enable donors to support our adaptation efforts. Mr. president, the crisis has the power to divide us or to prove that we all remain willing to achieve common goals. This week, the Marshall Islands convened the High Ambition Coalition, a diverse group of countries committed to a rigorous response to the climate crisis. We are united in the view that the best available science must lead the decisions we make, the importance of a 1.5°C temperature limit, an urgent transition away from fossil fuels, and the need for adequate and accessible climate finance, especially for adaptation and loss and damage.
The entry into force of the Agreement on Marine biodiversity of areas beyond national jurisdiction, which Monaco was one of the first countries to sign and ratify, is a victory of the law over seizure of cooperation over predation. We now need to translate these commitments into acts to protect 30% of the ocean by 2030. To finally agree on an ambitious and binding agreement on plastics pollution and exercise extreme caution with regards to deep seabed mining. The ocean is nobody's property. It is everyone's responsibility. Monaco will continue to do its part in this vital task, relying on science, which is the only universal compass. And what goes for the ocean also goes for the climate The Paris Agreement remains our common framework. Monaco will honour its commitments by reducing greenhouse gas emissions by 67.5% by 2030, and by achieving carbon neutrality by 2050.
is a crisis you will one day inherit. Defending the rules is not a favor to the small. It is an insurance for the strong. Mr. president, nowhere is that truer than the climate crisis. Here too, we are told there is uncertainty. There is none. The sea does not negotiate. It does not read communiques, and it does not recognize a veto. In 2024, for the first time, the world was more than one and a half degrees warmer for an entire year. The line which small island states fought to write into the Paris Agreement has already been crossed. A new report released only days ago warns that El Nino phenomena now heating the planet is likely to cost some 450 000 lives by next February. In 2019 Hurricane Dorian inflicted damage and losses on the Bahamas equal to roughly a quarter of our national output. Families watched the sea take the only land they had. Most of my country sits barely above sea level. For us, a rising ocean is not a forecast. It is a boundary inching towards our doorsteps. That is why the Bahamas proudly endorses yesterday's declaration on sea level rise, which affirms that our statehood, our boundaries and our seat in this assembly will not be washed away by the sea. The science is certain. Last year, the International Court of Justice made clear that the law is also certain. The injustice is certain: the people who bear least responsibility are asked to adapt first, pay more, and recover from disasters they did not cause. And the self-interest is certain. People who lose their homes do not disappear. They move and they arrive at someone's border. Protection, prevention costs less than rebuilding or relocating. The Bahamas is taking action, but no nation acting alone can hold back the tides. Nor can we build resilience inside a financial system designed at Bretton Woods in 1944, which still declares us too prosperous to help until the next storm makes us poor. The Vulnerability Index exists.
Mr. president, I conclude by thanking Secretary General Antonio Guterres for his principled leadership and steadfast commitment to the United Nations over the past decade. I especially commend his courage in tackling the climate crisis, the fundamental issue of our time. From devastating floods in Nepal to wildfires across Europe. Communities are increasingly experiencing the consequences of a changing climate. The Paris Agreement remains a powerful example of what can be achieved when countries work together. Secretary Guterres has been a vital voice in calling member states to action We look forward to working with the next Secretary General in advancing the charter's principles and strengthening this institution. As the leader of a country that fought for its independence and its place among nations. I am deeply conscious, conscious of the inheritance we have received. The United Nations, for all its imperfections, remains one of humanity's greatest achievements, a testament to the belief that peace, dignity and progress are best secured when nations work together. At a time when that belief is under strain, it is our shared responsibility to renew it, strengthen it and ensure it endures for generations to come Thank you very much indeed.
Last year OECD donors spent about $175 billion on development assistance... a 23% drop year-on year. And yet military expenditures approached $3 trillion.... capping 11 straight years of growth. All the while progress on the SDGs has stalled at just over a third of targets, and developing countries are now paying the price for supply chain disruptions they did not cause and cannot cure. The contrasts could not be more stark. We must better prioritize how our resources are spent by augmenting development assistance, addressing debt burdens, reforming the international financial architecture, fulfilling our Sevilla and Paris commitments. And implementing the programmes of action for LDCs, LLDCs, SIDs, as well as the AU’s Agenda 2063. Because where we have done so, the results are clear: Over the past decade, nearly one billion people have gained access to safely managed drinking water. Electricity now reaches 92 per cent of the world’s population. And internet access has risen from 40 per cent to 74 per cent. Behind these figures are healthier children, more resilient communities, greater opportunities for women and girls, and renewed hope. These gains show that accelerating the SDGs is possible when developing countries and development partners work in concert. This indeed is a shared responsibility. Developing countries must also intensify their own efforts through domestic resource mobilization and plug any leakage or corruption, including capital flight — A plague that, until recently, undermined development in my own country under a repressive, authoritarian regime.
We will take the lead in shaping AI into a tool for solving the shared challenges we face, such as the climate crisis, public health, food insecurity, and refugee issues. Second, the green transformation. The climate crisis is often referred to as a global group project shared by all 8 billion people on earth. A single country cannot tackle this challenge alone. At the same time, abandoning growth cannot bring everyone on board. The Republic of Korea announced its 2035 Nationally Determined Contributions as part of its active participation in the Paris Agreement and UN Climate Action. The Korea Green Transformation Strategy aims to convert our industrial structure, creating a virtuous cycle in which carbon neutrality leads to new growth engines and decent jobs. We are ready to share our experience and best practices with the international community. Co-hosting the fourth UN Ocean Conference with Chile in 2028 reflects our commitment to leading discussions on the sustainable development of our oceans.
