Finance global climate mitigation and adaptation.
Rich countries and their fossil fuel companies have pumped out most of the carbon dioxide emissions, the main cause of climate change. However, these rich countries fell short of their commitment to mobilize $ billion per year for climate finance. These countries could also tax the fossil fuel industry to help cover the rising global costs Similarly with their emissions. International financial institutions could better integrate country vulnerability and into their concessional financing allocation criteria. Small island developing States face difficulties in mobilizing the financing nto achieve the goals, mainly because gross national income per capita continues to be to determine access to concessional resources or subsidies.
Small island economies, most of which
Are high- and middle-income countries, are coo rich to have access to development finance, despite the fact that they are suffering from re and devastating environmental catastrophes, and several simultaneous shocks are under way. paralyzing their economies, endangering their populations. The International Financial Institutions could review the eligibility criteria for access to development coordination, taking into account . Similarly the specifi of countries, in addition to the gross national income per capita. In order to provide Saudi Arabia Phone Number List assistance to small island developing States, it is essential that structural vulnerabilities bewhen allocating concessional funds. The development of the. Multidimensional Vulnerability Indeby the Secretary-General of the United Nations, as well as the establishment of a High-Level Expert Group to finalize the index by , represent key steps towards this end.
Innovative financing solutions, such as
Sustainable Development Goals bonds, could also play an important role in supportin investments in small island developing States. That said, according to the existing rating systems, the majority of these States are not worthy and, therefore, cannot access . Similarly these financial instruments unless the International. Financial Institutions support them to untie the bonds and obtain debt in the capital markets. capitals. The . Similarly International Turkey Phone Number List Monetary Fund’s Special Drawing Rights —constitute an international reserve asset to complement the official reserves of its member countrie. Similarly could be. Similarly to obtain additional financing mechanisms to support the development. Debt swaps, such as debt for Similarly development, debt for climate or debt for environment, are state- tools that could. Similarly be by small island . Developing states to restructure their growing debt and free up resources for development and progress. of the Sustainable Development Goals.
