Statement delivered by Hon. Tina Stege, Climate Envoy, Marshall Islands
V20 MINISTERIAL DIALOGUE XII
16 April 2024
Washington D.C., USA
Hon. Tina Stege, Climate Envoy, Marshall Islands
Thank you, Chair.
Hello, excellencies and colleagues. Allow me to first pass on the regrets of my Finance Minister, the Honorable David Paul, who planned to be here, but needed to stay home to attend to urgent business, including managing our response to a cascade of climate impacts that we’ve suffered since the first of the year, including flooding and drought. I’d also like to just appreciate the comments by my colleague from the Kingdom of Tonga, who eloquently expressed many of the challenges we face in the Pacific.
The Republic of the Marshall Islands aligns ourselves with the urgent call for action in the V20 communique. A detailed and concrete pathway towards reform of the global financial architecture is vitally needed to deliver climate justice.
The RMI completed its National Adaptation Plan last year. It paints a very clear picture of the significant challenges we will face in remaining resilient and prosperous in the face of climate change, as well as the financial support. The numbers are staggering that we will be needed to do so. A global financial system that can support our needs and those of all countries is a far cry from what we have today, and we look forward to working together to deliver it throughout this critical year for climate finance, culminating with the agreement of a new collective quantified goal at COP29.
This is the year when we, as vulnerable countries, really need to raise our voice in calling on all parties, and especially major emitters to come up with the next round of 1.5 degree aligned nationally determined contributions. Although these are not formally due to be delivered into the start of next year, we are all familiar with the process of NDC creation and how long it takes.
Our advocacy must begin now, if it’s going to be effective in making our expectations on keeping 1.5 clear. And very much we need the G20 economies to lead the way here.
This is also the year in which we must drive change on climate finance. MDB reforms should be a core aspect of discussions, not just within the UNFCCC, but in all other relevant fora and I’m very appreciative to the G20 — I mean to the CVF-V20 for creating this space and driving these discussions forward here today.
Developed countries must bring the necessary political influence to bear on the MDB institutions to adopt the necessary reforms, in line with the steps set out in the communique. The pathway needs to be clear, credible and delivered well before COP29 in Baku. Colleagues have highlighted the historic agreement to create and operationalize a Loss and Damage Fund. One litmus test for IFIs and their responsiveness to vulnerable country needs is this Loss and Damage Fund, and the fund needs to be established in line with what was agreed last year at COP28 and delivering for those most affected urgently. And we hope to hear positive news from the Bank this week on this.
Finally, this is the year in which decisive action needs to be taken at the International Maritime Organization to curb international shipping emissions, and this is an area where the Marshall has worked very closely with, particularly our colleagues from the Pacific, but also others, to focus and shine a light on the emissions from international shipping that are causing climate impacts.
We have worked with our allies to design a proposal for a carbon levy on GHG emissions, an innovative financing mechanism, one of those innovations that really need to be at the heart of discussions on the changes that we should be looking at. This would ensure that every emission from shipping has a price attached and that the revenue that is generated can go towards the needs of the most climate-vulnerable.
We are gratified to see more and more SIDS and LDCs joining IMO meetings and raising their voices for a just and equitable transition of this critical sector. And we urge all the CVF-V20 countries to make use of the IMO’s new trust fund for participation at these meetings, especially for the critical MEPC 82 meeting that will occur in October this year.
We are on the cusp of historic climate action at the IMO with the opportunity to demonstrate decarbonization of a sector that in fact leaves no one behind.
Excellencies, colleagues, thank you for your kind attention.
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