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The Commonwealth creates a consortium to tackle the oceanic climate crisis.

Blue climate finance. | Posted on 2021-11-18 19:25

The Commonwealth Secretariat announces the appointment of a consortium of experts to advise on ocean finance and climate action. Generously supported by the United Kingdom, this appointment is a joint venture of the Commonwealth Climate Finance Access Hub and Commonwealth Blue Chart st .

Small states, least developed countries (DPJ) and other vulnerable countries face disproportionately to the acute effects of climate change. Although climate finance is made available to developing countries through a number of international initiatives, most of these countries have limited capacity to access these funds. Therefore, the Commonwealth Climate Finance Access Hub (CCFAH) helps countries unlock available climate finance. Through this initiative, small, vulnerable Member States are helped to bid and gain increased access to climate finance.

The Blue Charter of the Commonwealth, for its part, is an agreement by the 54 Commonwealth countries to actively cooperate to:

  • Solve ocean problems
  • Respect the commitments in favor of the sustainable development of the oceans.

The underlying principles of the Blue Charter come from the Commonwealth Charter, which was signed by Queen Elizabeth II in 2013.

The Blue Charter helps Commonwealth countries work together on an equitable, inclusive and sustainable approach to ocean protection and economic development.

The Commonwealth Blue Charter operates through a set of action groups, each dedicated to a particular ocean issue. Action groups are led by member countries, led by “champion” countries. So far, 16 countries have come forward to become champions on 10 topics:

  • Commonwealth Alliance for a Clean Ocean
  • Protection and restoration of coral reefs
  • Mangrove ecosystems and livelihoods
  • Marine protected areas
  • Ocean acidification
  • Ocean and climate change
  • Ocean observation
  • Sustainable aquaculture
  • Sustainable blue economy
  • Sustainable coastal fishing

Action groups will unleash the power of 54 countries and guide the development of tools and training.

The newly formed consortium will work with Commonwealth governments, through the Commonwealth Climate Finance Access Hub regional and national climate finance advisers, to help them develop proposals and access funding for adaptation activities. and mitigation of the effects of climate on the oceans, as detailed in national climate plans submitted to the United Nations.

The consortium will also work to build institutional and individual capacity and knowledge in the use of financial instruments and funding mechanisms for climate finance proposals.

Ocean crisis

Dr Arjoon Suddhoo, Under-Secretary-General at the Commonwealth Secretariat, said: “We know that the climate crisis is also an ocean crisis. The importance of the ocean can be better reflected in current access to climate finance. This collaboration with the support of the United Kingdom will begin to solve this fundamental problem ”.

Initially, this appointment will last until March 2022. This funding builds on previous support from the United Kingdom at the Commonwealth Secretariat to support the Blue Charter of the Commonwealth in 2018-2020.

The Blue Commonwealth Charter is a commitment of 54 countries to actively cooperate in addressing global challenges our ocean faces. It is implemented through ten action groups led by 16 champion countries that engage their members and other partners around key issues such as marine pollution, ocean climate action and the sustainable blue economy. .

The Commonwealth Finance Access Hub helps small and other vulnerable Member States access to climate finance by integrating national and regional highly qualified advisors in the long term in the relevant departments to strengthen the capacity and help develop successful funding proposals. The CCFAH has deployed advisers in 16 countries and to date has secured around $ 44 million in climate finance, of which $ 762 million.

Posted on 2021-11-18 19:25

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