UN Secretary-General: Time to change SIDS funding to address climate change

UN Secretary-General António Guterres says the time has come to change how small island developing states access global funding to address the effects of climate change and local development.

Responding to questions from the media at the Diplomatic Centre, St Ann’s, during a joint interview with the Prime Minister on Monday morning, Guterres gave an example of some African countries spending more in repaying debt than they do in addressing their health care systems.

“This is the kind of injustice that should not prevail in today’s world,” he said.

He said there is a greater need for stronger action from multi-national and inter-development banks to change their business models to leverage private financing that will be used not to only finance offsetting the effects of climate change but personal development for countries.

“Small island states need support and funding,” Guterres said, adding that some are regarded as middle-income countries and are exempted from such assistance. This too must change, he said.

“We see the need to increase funding for adaptation. Mitigation is essential. We must reduce emissions. We must not forget that many countries are suffering the impact of climate change, and those that suffer most are not those that contribute more to the problem.”

He said financing for small-income developing states is vital and the UN has been “strongly advocating for reform in the international financial architecture,” which he said was created after World War II. He said these systems must now adapt to the realities of today’s economies.