Predictable, accessible climate finance must be delivered by int’l community

Addressing the 80th Session of the United Nations General Assembly, President Dr Mohamed Irfaan Ali on Wednesday called on global leaders to deliver predictable and accessible financing, which he believes is a solution to the world’s climate challenges.

“We call on the international community to deliver predictable, accessible climate finance to support adaptation and resilience, and to embrace nature-based solutions,” President Ali said.

The Guyanese leader said the innovative techniques employed by Guyana to attract this type of financing are particularly in the areas of forests and biodiversity.

As a result of the expanded Low Carbon Development Strategy (LCDS), Guyana has managed to earn more than US $700 million. These resources have been invested in upgrading sea defences, drainage and irrigation mechanisms, as well as supporting indigenous communities.

“We continue to match our words with actions [by] protecting our forests. Investing in sea and river defences, improving drainage and irrigation, and restoring mangrove ecosystems to protect our people, our land, our livelihoods, and our planet,” he noted.

The head of state told global leaders that without easy access to funding, reaching climate-related Sustainable Development Goals will be difficult.

“The slow pace of implementation and regression in many areas sounds a stark warning that the promise of 2030 is at risk. Guyana calls for renewed global commitment to financing for development, including fulfilling official development assistance pledges, mobilising domestic resources, and addressing the crippling debt burdens that hinder progress in many developing nations,” the president stated.

Guyana recently took a bold step in hosting the world’s first Global Biodiversity Alliance Summit, bringing together policymakers, researchers, and advocates dedicated to creating workable, scalable solutions to safeguard the planet’s biodiversity.