A new report on the economic impacts of climate change faced by the world’s most at-risk countries has found the climate crisis has made vulnerable economies poorer.

The Climate Vulnerable Economies Loss Report has found climate-threatened nations, including those in the Pacific, lost approximately US$525 billion in damage over the last two decades.

It reveals climate change wiped out one-fifth of the wealth of poor countries, which would be twice as wealthy today if not for climate change.

Marshall Islands climate envoy Kathy Jetnil-Kijiner said the findings of the report were “staggering”.

She said climate change affected every facet of human society and the effects went far beyond the economic, especially for those in the Pacific.

She said the non-economic damages might not be counted in dollars and cents but they were significant for people and communities.

“I think for us in the Pacific, we’re trying our hardest to make sure that the non-economic losses are just as much highlighted, you know, as some of this more large scale and that slow-onset event such as what we’re seeing in the atoll, nations, like the Marshall Islands, in particular, are also highlighted as really important,” she said.

The study was launched by the Vulnerable 20 Group or V-20, which represents 55 climate-threatened countries from across the world, at the UN climate talks currently taking place in the German city of Bonn.

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Article by AsiaPacificReport.nz

Prime Minister Voreqe Bainimarama was briefed yesterday on Fiji’s priority areas ahead of the 26th Conference of Parties (COP26) which includes keeping 1.5 degrees alive, scaling up support for adaptation and loss and damage, oceans climate nexus, increased climate finance and finalising the Paris Agreement rule book.

Bainimarama is adamant that Fiji must stand its ground on keeping the 1.5 degrees target alive alongside its Pacific Island neighbours — a stand if not enforced would mean disaster for the Small Islands Developing States (SIDS).

At COP26, Fiji and SIDS must push for greater climate ambition from all G20 members — regardless of their development status — as low-lying nations in the Pacific are likely to become completely uninhabitable under the current emissions settings by 2050.

The COP26 is starting today in Glasgow where Bainimarama alongside other world leaders will deliver a national statement at the World Leaders Summit among other climate-related engagements.

Convened by the United Kingdom, the World Leaders Summit signifies the importance for world leaders to deliver concrete action and credible plans aimed at achieving successful COP goals and coordinated action to tackle climate change.

The Summit is also a vital opportunity for Bainimarama in his capacity as chair of the Pacific Island Forum (PIFs) to provide a voice not only for Fiji but for Pacific Island countries, particularly those which are unable to attend in person because of lockdown and challenges caused by covid-19.

The COP26 meeting is held this year with in-person attendance by leaders. No leader will attend virtually.

Bainimarama will also be meeting other heads of government to discuss issues of mutual concern along the margins of COP26.

Talebula Kate is a Fiji Times journalist. Republished with permission.

Article by AsiaPacificReport.nz