Commonwealth has raised more than US$320 million in climate finance for small countries, in addition to another US$500 million that is in the pipeline.
UnniKrishnan Divakaran Nair, Head of Climate Change at the Commonwealth Secretariat, said that climate finance is essential to boost investments in low-carbon development and the ability of at-risk countries to mitigate the repercussions of climate change.
He pointed out that the Commonwealth has raised more than US$320 million in climate finance for small countries, in addition to another US$500 million that is in the pipeline.
The Commonwealth official told the Emirates News Agency (WAM) on the sidelines of the 28th United Nations Conference of the Parties (COP28) in Dubai that this current edition of COP was able to provide an opportunity for multilateral work and a platform for communication between stakeholders to advance global climate action.
He mentioned the establishment of the Commonwealth Climate Finance Access Hub (CCFAH), which is a mandate for the Commonwealth Secretariat to unlock financial support to developing countries, and a confirmation of the commitment of the 56 Commonwealth member states to move forward in addressing climate change.
The Commonwealth official pointed to the initiative to provide the necessary training to build the capacities of nearly 2,500 officials from the organisation’s member states, and to provide the necessary research and statistics to gain a deeper understanding of the issue of climate change, in addition to implementing the Commonwealth Charter, which is in line with the United Nations’ commitments to address climate change, desertification, and biodiversity,
He called for the exchange of solutions between Commonwealth member states and to promote new and renewable energy projects.
