This article is written by Mouna Chambon.
An important issue that has been discussed at the COP22 in Marrakech is the allocation of the financial resources required for implementing the NDCs in the Pacific region.
People in Pacific Island Countries (PICs) are disproportionately more impacted by climate change than other regions of the world. While the PICs are standing at the frontline of climate change, they are those that contribute the least to global GHGs emissions.
But as many other Least Developed Countries (LDCs), they suffer from a lack of capital bases and foreign investment for climate action. As a climate justice issue, there has been gradual recognition that developed countries should provide their support in mitigation and adaptation projects. As a result, climate finance has become a central pillar of climate negotiations.
In Marrakech, developed countries reaffirmed the objective adopted in the preamble to the Paris Agreement to jointly mobilise USD 100 billion per year of public and private finance by 2020 for climate mitigation and adaptation in developing countries. However, many challenges still remain in achieving this goal in the Pacific region.
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