As COP29 begins in Azerbaijan today, the Australian Council for International Development (ACFID), the peak body for international development in Australia, calls on the Australian Government to prioritise bold climate action that meets the urgent needs of our Pacific neighbours.  

“The Pacific region is on the frontlines of climate change, facing rising sea levels, extreme weather, and environmental degradation. It is essential Australia prioritises an ambitious climate finance strategy that reflects the urgency of the situation and the needs of our Pacific partners” said Acting Director of Policy and Advocacy, Alan Hewson. 

With climate change posing an existential threat to many island nations, ACFID emphasises the critical need for increased climate finance and collaborative efforts to safeguard the future of our Pacific neighbours. 

“Achieving ambitious goals is essential to prevent temperatures from rising beyond 2°C or even 3°C, ensuring that communities can adapt to the climate challenges we are facing today. Australia must lead the charge with ambition and bold action on climate finance.” said Mr Hewson. 

COP29 presents a crucial moment for international dialogue on issues such as climate adaptation, loss and damage, The New Collective Quantified Goal on Climate Finance (NCQG), and advancing the just energy transition.  

Currently, Australia’s climate finance contributions fall far short of its fair share of the global USD 100 billion per year target for 2020-2025, providing only 15% of what is equitable based on historical emissions and Australia’s economic strength. 

“As negotiations progress at COP29, and with Minister Bowen involved in the Umbrella Group and as Ministerial Pair of the NCQG, it is critical that Australia fully utilises its leadership role to urge action for Pacific Island States” said Mr Hewson.  

ACFID calls for the Australian government to reaffirm its solidarity with Pacific civil society by advocating for genuine partnerships with Pacific Island countries. 

Discussions at COP29 will focus on enhancing support for affected communities and will allow countries to present their updated national climate action plans under the Paris Agreement, which are due by early 2025.  

For more information, please contact ACFID Media at 0401 721 064 or [email protected] 

Background  

The New Collective Quantified Goal (NCQG) is a key element of the Paris Agreement, aimed at establishing a new financial target to support developing countries in their climate actions post-2025. The NCQG seeks to address persistent gaps in climate finance, building on the previous USD 100 billion target set by the United Nations Framework Convention on Climate Change in 2009. 

In 2022-23, Australia’s climate finance contributions amounted to around 15% of its fair share of the global annual goal of USD 100 billion. Australian civil society continues to urge the government to take proactive steps to reach its fair share, which currently stands at AUD 4.4 billion per year in new and additional funding beyond existing Official Development Assistance (ODA). 

The Intergovernmental Panel on Climate Change (IPCC) has warned that even with effective measures to limit warming to 1.5°C, losses and damages from climate change are already occurring and are projected to worsen. Developed economies must therefore increase their provision of loss and damage finance.