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FINANCE MINISTER COMMENDS CLIMATE FINANCE ROADMAP

FINANCE MINISTER COMMENDS CLIMATE FINANCE ROADMAP

Solomon Islands Minister of Finance and Treasury, Harry Kuma has counseled companions that supported the event of Solomon Islands Local weather Finance Entry Roadmap launched Thursday final week.

Key companions within the course of included the Ministry of Finance and Treasury, the Ministry of Nationwide Planning and Growth Coordination, the Ministry of Atmosphere, Local weather Change, Catastrophe Administration and Meteorology in collaboration with the United Nations Growth Programme, Governance for Resilient Growth within the Pacific (Gov4Res) Undertaking and the Pacific Islands Discussion board Secretariat (PIFS).

The roadmap doc outlines various key aims, which can help rising entry to local weather finance, strengthening useful resource administration and public spending to make sure investments are directed at precedence local weather change actions and enhancing coordination between the Authorities, improvement companions and stakeholders with the frequent purpose of attaining sustainable and inclusive progress.

Talking on the launching occasion, Minister Kuma acknowledged efforts by all companions, particularly, UNDP and PIFS for selecting up some suggestions highlighted within the Solomon Islands Local weather Change and Catastrophe Threat Discount Finance Evaluation report and the Scoping Report on the Institution of the Local weather Finance Unit.

Mr Berdi Berdiyev, Deputy Resident Consultant, UNDP Nation Supervisor for Solomon Islands

“The launch marks the good collaboration between completely different stakeholders towards progress to accessing world local weather finance to reply successfully to local weather impacts and to develop into resilient,” Kuma mentioned.

Kuma additional highlighted that Solomon Islands is an archipelago that’s on the forefront and experiences the total brunt of local weather change impacts and the reoccurrence of disasters.

“Our nation is experiencing an unprecedented scale of utmost climate occasions together with heavy rainfalls, flash floods, rising intensities of cyclones, sea-level rises and coastal erosion,” he mentioned.

Kuma mentioned these excessive occasions proceed to hamper and threatens the nation’s safety, problem the economic system and affected the livelihoods of rural communities together with cultures and sustainable developments.

Catastrophe loses, in line with Kuma “can signify a serious portion of our nation’s gross home merchandise (GDP) and impede financial and social improvement of the nation”.

Minister Kuma additional highlighted that Solomon Islands alone can’t response successfully with out accessing world local weather funds to help its interventions.

“Unlocking entry to those funds is essential and I urge improvement companions, line Ministries, NGOs and the Non-public Sector that our collaborations is essential for a resilient Solomon Islands,” he mentioned.

The influence of local weather change and catastrophe dangers stay a high precedence for the Solomon Islands Authorities which can be clearly articulated in Coverage Frameworks such because the Nationwide Growth Technique (NDS), Nationwide Adaptation Plans and the Solomon Islands Local weather Change Coverage, Catastrophe Administration Plans.

The local weather roadmap has 4 important parts with two important pillars of the local weather finance entry and useful resource administration and public spending. It’s a residing doc that will probably be reviewed after each 5 years or when the necessity arises.

Moreover, an vital doc that gives steering in the direction of accessing and successfully managing established world funds.

ENDS///



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