Vanuatu’s climate minister, Ralph Regenvanu, expressed his nation’s worries over the US’s withdrawal from the Paris climate accord, fearing adverse effects on climate initiatives and funding. Despite these concerns, he is hopeful about fostering discussions with the US based on their historical ties. Vanuatu is actively seeking innovative financing methods to bolster resilience against climate change.

Ralph Regenvanu, the climate minister of Vanuatu, expressed concerns regarding the ramifications of President Donald Trump’s withdrawal from the Paris climate accord on his vulnerable island nation. Situated in the Pacific and inhabited by around 320,000 people, Vanuatu has been grappling with natural disasters and rising sea levels, which threaten its coastal areas.

Minister Regenvanu articulated his dissatisfaction with the United States’ exit from the international commitment to combat climate change, stating that such actions could hinder progress. He remarked, “We’re all worried about the possible consequences of the anti-climate change kind of bent of the new US government.”

Despite the challenges posed by the US withdrawal, Regenvanu remains optimistic due to the historical relationship between Vanuatu and the United States, particularly during World War II, where the US established the largest military base in the South Pacific. He hopes this connection will facilitate discussions on climate issues.

Vanuatu’s studies reveal that the sea level surrounding the archipelago has been rising at a rate of 6 millimeters per year from 1990 to 2010—exceeding the global average—raising concerns for future impacts. Regenvanu acknowledged the expensive nature of adapting to and mitigating climate change effects, prompting the Pacific nations to explore alternative funding sources.

To innovate climate financing, Regenvanu proposed the establishment of a blue and green bond market akin to Fiji’s model introduced in 2023, where raised capital would be dedicated to marine and environmental conservation projects. He emphasized the urgency of securing climate finance to develop resilient infrastructure necessary for combatting climate challenges.

The withdrawal of the United States from the Paris Agreement has raised significant concerns for Vanuatu, as emphasized by Climate Minister Ralph Regenvanu. Vanuatu faces dire challenges from climate change, primarily due to rising sea levels and natural disasters. Nevertheless, the Minister remains hopeful for future dialogues between Vanuatu and the US, aiming to strengthen climate finance strategies and resilience initiatives.

Original Source: www.hindustantimes.com

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