The 2024 Commonwealth Climate Breakfast focused on building consensus for climate finance ahead of COP29, featuring leaders from various nations. The event highlighted urgent calls for increased financial support for vulnerable countries, underscoring the success of the Commonwealth Climate Finance Action Hub in securing significant funding. Canada announced a new investment, with strong endorsements from Australia and the UK, as stakeholders urged unified action going forward.
The Commonwealth Climate Breakfast, a pivotal gathering preceding the Commonwealth Heads of Government Meeting (CHOGM), convened in 2024 to facilitate dialogue on climate finance targets as COP 29 approaches. This event featured prominent figures such as the Prime Ministers of Tonga and Tuvalu, the Vice-President of the Maldives, the Minister for Fisheries and Forests of Fiji, and the Secretary for Foreign Affairs of Mauritius, among others. Moderated by Dr. Ruth Kattumuri, a Senior Director at the Commonwealth Secretariat, discussions brought together high-ranking officials from various member states, climate specialists, and youth representatives. The Rt Hon Patricia Scotland KC, the Commonwealth Secretary-General, underscored the urgent necessity for unlocking climate finance, emphasizing the severe predicaments facing small and vulnerable nations subjected to climate-induced disasters, which exacerbate existing vulnerabilities and compromise resilience. She articulated, “These shocks cause tremendous economic and human suffering, exacerbating pre-existing vulnerabilities and undermining resilience. The immense physical damage is compounded by the systems and structures which have created such imbalance in our world.” Additionally, she highlighted critical financial challenges, noting that the debt-to-GDP ratio in the most vulnerable states surpasses the global average, aggravated by restrictive global financial regulations. The Commonwealth Climate Finance Action Hub (CCFAH), established with an initial investment of US$8.5 million, has successfully attracted US$366.31 million for climate initiatives supporting small and vulnerable Commonwealth countries. Recent confirmations included a funding of US$2.76 million for a new project in Seychelles, as updated by Unnikrishnan Nair, Assistant Director of Climate Change and Sustainability at the Commonwealth Secretariat. Leaders present acknowledged substantial benefits from CCFAH in terms of supplementary climate finance, policy support, and capacity-building endeavors for government officials. Emi Furuya, Director-General of International Organisations and Human Rights in Canada, announced an additional CA$4.65 million investment towards CCFAH, affirming this contribution was directly motivated by the concerns of small and vulnerable states. Furthermore, she noted, “Canada’s well-known focus on gender equality is a core component of our international assistance programming around the world.” These funding announcements received support from Australia and the United Kingdom, both of which were original contributors to CCFAH. This meeting also paved the way for the Commonwealth Secretariat’s involvement at COP29 in Azerbaijan, where ongoing collaboration with COP29 President-Designate, HE Mukhtar Babayev, was reported as being fruitful for vulnerable states. Jevanic Henry, a Youth Climate Adviser to the UN Secretary-General, remarked on the urgent need for decisive action, concluding, “At COP, let’s get it done.”
The Commonwealth Climate Breakfast is held ahead of the Commonwealth Heads of Government Meeting (CHOGM) to address critical issues related to climate finance. With increasing urgency due to the impacts of climate change on vulnerable nations, stakeholders gather to discuss financial mechanisms and frameworks that can enable access to necessary funding. As global leaders prepare for the upcoming COP 29, the emphasis is on understanding the challenges these countries face and securing commitments from larger nations to assist through financial channels that address their specific needs.
In conclusion, the Commonwealth Climate Breakfast highlighted the vital need for enhanced climate finance targeting vulnerable nations, underlining the collective responsibility of member countries to respond to the climate crisis. Prominent leaders and stakeholders acknowledged the operational successes of the Commonwealth Climate Finance Action Hub while advocating for additional investments to amplify these benefits. The commitment from Canada, alongside endorsements from Australia and the United Kingdom, signifies a collaborative effort toward effective climate action as the global community gears up for COP29.
Original Source: thecommonwealth.org
