The absence of a loss and damage finance commitment from the United States President’s address at COP27 has raised criticisms from Pacific youths.

Speaking on behalf of Pacific Climate Warriors and 350.org, an international environmental organisation addressing the climate crisis internationally, Joseph Sikulu, Pacific managing director for 350.org said as a region experiencing the worst impacts of the climate crisis, they were disappointed in the glaring exclusion of loss and damage finance from President Biden’s statement.

“If the USA is truly a “climate leader”, they will phase out fossil fuels, redirect the money they give to dirty energy and support the establishment of an operational loss and damage finance facility at COP27,” he said.

He added that while the Pacific was heartened to hear that the USA was on track to reach their goals for the Paris Agreement by 2030, the Pacific also needed to see action.

“Small island states cannot afford to waiver on the commitment to 1.5 degrees of warming, and the USA is complicit in our devastation unless they phase out fossil fuels,” he said.

“This means redirecting billions of dollars of fossil fuel subsidies into genuine climate finance.”

“Not insurance schemes and not investments in climate adaptation, but finance that is sufficient and accessible to the communities that need it most.”

Last Friday, United States President Joe Biden gave a speech at COP27 where he announced USA initiatives and global commitments, including commitments to supporting adaptation in specific Global South regions, including across Africa and the Pacific Islands.

President Biden also announced commitments to accelerating his emergency plan for adaptation and resilience.

He also spoke towards using public finance to unlock billions in private investment through the “Climate Finance +” initiative to support global south countries in issuing green bonds.

Story by: inoke.rabonu@fijisun.com.fj