Climate and energy · 3 mentions in this passage
We must peak as low as possible and return below 1.5°C as quickly as possible. Every fraction of a degree matters. The Pacific loses an estimated of $500 million every year due to natural disasters such as cyclones, flooding. Early warning systems give communities time to prepare and reduce these losses. That may be a modest sum in global terms but for Pacific nations it is a heavy toll on our countries and our people. And yet the financing to prevent such losses still falls short. The Pacific Resilience Facility, our own financing mechanism for building community resilience, needs a further $328 million in pledges to reach its initial capitalisation target of $500 million. Weather Ready Pacific, designed to reduce the human and economic costs of severe weather events, needs a further 160 million to reach its target. Tonga's Climate Trust Fund, a direct community fund which disbursed its first round of grants this year, also requires significant funding support. We call on all our partners to invest in these Pacific designed and Pacific owned solutions. Tonga stands behind 2026 Pacific Island Forum leaders, the Belau Declaration, and calls on all our major emitters to act urgently. Climate action is a legal obligation, but meeting those obligations will require difficult decisions rooted in science. Climate leadership is not a popularity contest. Seven of the nine planetary boundaries have been breached by human activity. Climate inaction is not an option. Tonga is accelerating its transition away from fossil fuels and expanding renewable energy, and we encourage the shift to electric vehicles. For us, decarbonising also means greater energy security and protection from global fuel price shocks. We must phase out the explicit fossil fuel subsidies estimated by the IMF at $725 billion. International financial institutions and multilateral development banks must recognise the Multidimensional Vulnerability Index, the MVI, which ensures that it informs eligibility and allocations. By any credible index, Tonga is amongst the world's most vulnerable countries. However, we call on all nations, especially the world's largest emitters, to attend the Pre-COP31 meetings in Fiji and Tuvalu in October this year. Come to the Pacific and confront what 1.5 degrees means for our water, our people our food, our homes, and our security. We welcome the General Assembly's declaration on sea level rise, a significant achievement for the preservation of sovereignty. It marks the first time all member states have agreed on a single common text on sea level rise. Our resilience account for every hazard, including geohazards confronting our islands. Over the last few years, Tonga has endured cyclones, flooding, earthquakes and tsunamis. This year, the Super El Nino, currently forming over the Pacific Ocean, further intensifies weather patterns, compounding the pressures on our people. We therefore need integrated warning and response systems that can protect our communities against the full range of planetary risks.
Read around it: ·