Vice President of the Maldives, Hussain Mohamed Latheef, has urged for an increase in global climate assistance to surpass $100 billion annually.
Speaking at the "CHOGM Climate Breakfast: Building Consensus for Climate Finance Targets in the Commonwealth" on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) in Samoa, the Vice-President emphasized the devastating impacts of global warming on vulnerable populations, particularly within the Commonwealth.
The Vice-President said the Commonwealth member states should work together to overcome the challenges posed by climate change. He also stressed the importance of providing sustainable financial assistance for the promising efforts being made against climate change.
The Vice President also called for a new collective quantified goal on climate finance that exceeds the previously agreed $100 billion per year. He also highlighted the need for changes in the international financial architecture to better cater to the development needs of vulnerable nations, including Small Island Developing States (SIDS).
In his remarks, the Vice-President also stressed the need for a measurable, consensus-driven target to be finalized by the upcoming COP29 meeting, ensuring sufficient financial resources for climate resilience and adaptation.
The Vice-President commended the work of the Commonwealth Climate Finance Access Hub in aiding countries like the Maldives, which face challenges in accessing the necessary climate finance.
