Kreetika Kumar 
United Nations Secretary General António Guterres [Photo: Supplied]
United Nations Secretary General António Guterres has emphasized the need for both climate and financial justice for the vulnerable small island developing nations.
During the opening of the fourth International Conference on Small Island Developing States, Guterres stated that SIDS are confronting a climate emergency, spiraling debt, and health crises.
He adds that the international community has a duty to support the vulnerable states.
According to the UNSG, many SIDS need adaptation measures to protect agriculture, water resources, and infrastructure from extreme climate impacts.
“You also have every right to call for new and significant contributions to the Loss and Damage Fund, and eventually to innovative forms of mobilizing resources to this Loss and Damage Fund to make it a reality.”
Guterres adds that SIDS has demonstrated strong and principled leadership on climate action.
The UNSG says that nearly half of SIDS are close to unsustainable levels of debt.
Guterres says this is creating a circle of stress and vulnerability and constraining their ability to invest in sustainable development goals.
He adds that in the longer term, they are working for deep reforms to the outdated, dysfunctional and unjust global financial architecture.
The UNSG says there is a need for a financial system that puts the interests of developing countries first and is able to work as a global safety net.
