Prime Minister Hon. Manasseh Sogavare MP has described the COP28’s decision to establish and operationalize the loss and damage funds as a “great victory” for Small Islands Developing States (SIDS).
This week at the COP28 in Dubai, developed countries have finally endorsed and agreed on the loss and damage funds to assist Small Islands Developing States (SIDS) that are affected by climate change.
The Pacific Islands Forum leaders have been advocating for the loss and damage funds for a long time, the recent decision by developed countries to recognize and implement the funds is a big achievement for SIDS.
Prime Minister Sogavare, is one of the PIF leaders who is vocal about these funds, and has been calling on developed countries to honor this arrangement.
His latest call for the establishment of the loss and damage funds was made in September of this year at the United Nations General Assembly, he was quoted saying “Loss and Damage mechanism needs to be resourced and operationalized. Global trust needs to be restored to uphold the credibility of the Paris Agreement. We must walk the talk by taking drastic climate action”.
According to COP28, the loss and damage funds will be accessed by vulnerable countries, and the pertinent question that came up amongst negotiators at the COP28 was what constitutes a vulnerable country or what the definition of vulnerable is.
Regarding that, the Prime Minister stated that PIF and Pacific leaders favor a Multi- Vulnerable Index (MVI) to define vulnerability and so Small Islands Developing States (SIDS) that fall within the definition of vulnerability (according to MVI) will access the funds.
The Prime Minister also underscored that the strength of Small Islands Developing States (SIDS) is cooperation and working together under regional platforms such as the Pacific Islands Forum (PIF) and speaking together as a group at the international fora such as in UNGA and COP28.
PM Sogavare re- echoed that the biggest winners of the COP28 decision to operationalize the loss and damage funds are the small island developing states.
SIDS have been strongly against World Bank to control the funds, however, in line with the decision of COP28 the World Bank will administer the funds on initial basis for four years only and thereafter it relinquishes the role.
Solomon Islands under the leadership of Prime Minister Manasseh Sogavare has always been a strong voice for support by those with historical responsibility for global warming for adaptation and mitigation actions in Island countries that are affected by climate change.
The Prime Minister commended the efforts of the Solomon Islands delegation led by Minister of Foreign Affairs and External Trade at COP28.