Developed countries asked to pay 1.5% of GDP for climate change cause
Underlining that the fundamental principles and preservation of sovereign rights are non-negotiable issues, the participants of the Climate Vulnerable Forum in Maldives said that rights of the people “should be embedded” in the Copenhagen legal agreement.
Moreover, they called upon developed countries to provide public money amounting to at least 1.5% of their gross domestic product, in addition to innovative sources of finance, annually by 2015 to assist developing countries make their transition to a climate resilient low-carbon economy.
The declaration adopted on Wednesday added that the grant-based finance “must be predictable, sustainable, transparent, new and additional” besides the developed country commitments to deliver 0.7% of their Gross National Income as Overseas Development Assistance.
It further stated that the vulnerable countries are determined to show “moral leadership” on climate change through actions to achieve carbon neutrality.
Affirming that their solidarity will enhance the objectives of achieving sustainable development, reducing poverty and attaining the internationally agreed development goals including the Millennium Development Goals, they called upon all other countries to follow the leadership shown by Maldives.
They also asserted that it will be extremely difficult for developing countries to achieve climate change goals given their “lack of resources and capacity” without external financial, technological and capability-building support from developed countries.
They also emphasized that parties to the UNFCCC (United Nations Framework Convention on Climate Change) must also include, in the COP-15, “an ambitious agreement on adaptation finance, which should prioritize the needs of the most vulnerable countries.”
Environment Minister Thakur Sharma and Secretary Umesh Prasad Mainali represented Nepal in the conference.
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