New Zealand commits to climate finance, reaffirms support for small island states

New Zealand reaffirms its commitment to combating climate change and continuing its support for developing countries, particularly small island developing states (SIDS), the country’s Climate Change Minister Simon Watts said.

Speaking at a high-level meeting during COP29, Watts emphasized the need for international cooperation to ensure that climate finance reaches those most vulnerable to the impacts of climate change, Caliber.Az reports via local media.

The minister highlighted the importance of effectively channeling global climate finance to small island nations, which are facing the brunt of climate-related challenges. He announced that New Zealand would contribute $20 million to the Pacific Resilience Facility and $10 million to the global Loss and Damage Fund, reinforcing the country’s ongoing support for climate adaptation and mitigation efforts in vulnerable regions.

"We must ensure that global climate finance is effectively channeled to these countries," Watts said. "We are committed to meeting our climate targets and doing our part to reduce the impacts of climate change."

Watts also took the opportunity to outline New Zealand’s progress on its own climate goals, noting that the country already sources 85 per cent of its energy from renewable sources. He emphasized the nation's aim to double this figure by 2050, demonstrating New Zealand's dedication to reducing its carbon footprint and fostering a sustainable energy transition.

Agriculture, a key sector in New Zealand’s economy, is also central to its climate strategy. Watts highlighted the country’s efforts to develop innovative solutions to mitigate climate impacts within the agricultural sector. "Our farmers are some of the most emissions-efficient carbon producers in the world," he said. "Emissions pricing is a powerful tool in tackling the climate crisis."

In conclusion, Watts reiterated that the global community is united in the effort to create a sustainable and resilient future. "We are all working towards the same goal," he said, emphasizing New Zealand's continued role in the global fight against climate change.

By Vafa Guliyeva