Sink or Swim ? Nay, Sink or Pay.
The grim reality of climate financing.
This story appears in Quark Magazine and was written for Climate Tracker’s COP Contest.
This is Kiribati, somewhere in the south of the vast waters of the Pacific Ocean. It is a SIDS (Small Island Developing State). It indeed is one of the most beautiful places on earth and there is not much time before the ‘is’ becomes ‘was’.
Kiribati is sinking.
Due to the Global Warming and the rising water levels, a few of Kiribati’s cluster of 33 islands (which is mere 266 feet above sea-level) and atolls have already started disappearing.
In 2012, the President of Kiribati — Anote Tong spent $8.77 million on buying land in Vanua Levu which is on Fiji’s second largest island. This land was purchased for all 100,000 citizens of his country and consumed quite a major chunk out of the nation’s treasury. Where there was a hope of support, there came none. Thus, sensing the urgency, the 5500 acre Nota Avatu Estate was sold at premium of $1000 per acre against the regular rate of $400 per acre. What’s more is the fact that the land is mostly inhospitable due to the hilly and swampy landscape, as highlighted by James Ellsmoor and would probably need more funding to be flattened.
How did no one try to stop this you may ask ? They did — the government launched the KAP (Kiribati Action Plan) which has not been successful thus leaving the people of Kiribati with “dignified migration” as their only option.
But, Kiribati is not alone in this….
Vanatu, another SIDS was hit by the category 5 cyclone Pam that left the country crippled as not only did 75,000 people lost their homes , but a majority of the $600 million agricultural economy was blown away by winds over 300 km/hr that destroyed the crops.
Fiji, where Kiribati’s government purchased land (since it was closest by culture and distance ) , too is not safe — the entire Narikoso Village on Fiji’s Ono island was relocated due to flooding.
The 20 Pacific SIDS’ which mainly rely on tourism and resource based industries for their sustenance and cannot afford to match the big nation economies in purchasing parity in any way. They contribute only 0.03% to worldwide Green house gas (GHG) emissions while some of the major emitters are China (highest and not even accurately accounted) and the United States of America (26%) to name a few. The Pacific SIDS are in trouble due to no fault of theirs.
The Pacific SIDS were surely not left on their own to fend off against the surging swells of the Ocean you would say. Yes, they were not — but only on papers broadly titled as climate finance. The Green Climate Fund (GCF , aimed to be worth $100 billion by 2020) and the Fast Start Finance (FSF, aimed to be worth at least $10 billion till 2020) were the two main outcomes of the Paris Agreement which were aimed to be of relief to climate mitigation and adaptation affected countries. However in reality, neither is the GCF on track nor is the FSF anywhere near to its target.
The United States of America, one of main donor to the above, also recently pulled out of the financing pact that was to support affected countries like the SIDS.
Sitting on a cozy chair with my laptop, I probably cannot even imagine the plight of the residents of the SIDS who do not know which day will be their last as the sea slowly rises , bit by bit — escaping the observation of the human eye until it is too late. However what I do know is that time and tide both wait for no one and instead of restating facts and negotiating policies, what we actually need to do is act. The upcoming 23rd Conference of Parties which is presided over by Fiji has many hopes pinned on it.
While money is indeed not everything — in today’s world, it even runs goodwill.
Climate finance is that float — the swim against the sink. It needs to be reeled over and stepped up.
Citations :
Road through water : IARC Center for United Nations (Science Commons , under Creative Commons).
