Papua New Guinea, climate crisis and debt: the entire Pacific area asks for help

PORT MORESBY (Papua New Guinea-AsiaNews) – Climate change-induced disasters coupled with the debt crisis risk generating an uncontrolled rise in poverty, malnutrition and unprecedented economic instability in the Pacific region. This is the appeal launched yesterday at a press conference by the Caritas Oceania and from Jubilee Australia Research Centerwhich together published the first report that examines in detail the problems of the mixture of the climate and financial crisis in the Pacific countries.

Islands exposed to rising sea. The archipelagos of the region are exposed to rising sea levels, increasingly strong and frequent cyclones, tides that have a devastating environmental impact: extreme events that force small Pacific island nations to apply for loans to repair the damage, fueling the debt trap. The report, presented on the day dedicated to Saint Francis of Assisi and entitled “Twin Clouds on the Horizon: Averting a Combined Climate and Debt Crisis in the Pacific Through Climate Financing Provided Locally”, calls on the international community to take action on climate debt. the document the money must get into the hands of those who need it most; it is then necessary to restructure the debt, improving financing for the climate, as well as subsidizing resilience practices against environmental damage.

Critical moment for climate resilience. “We are at a very critical time for the development of climate resilience, especially in the Pacific, which is facing existential threats. The world is faced with the challenge of hearing and seeing with attentive ears and eyes the struggle of those on the front lines against climate change, and to have the courage to act in solidarity “, said card. Soane Patita Paini Mafi, regional president of Caritas Oceania. “Seven Pacific nations, including Papua New Guinea, are already at risk of debt. Look at what happened in Vanuatu, where public debt more than doubled after Cyclone Pam in 2015 due to repair and reconstruction costs. We have we need adequate funding to protect our communities from climate change without further aggravating the existing debt burden “, added Mavis Tito, director of Caritas Papua New Guinea.

Compensation for the countries that caused the climate crisis. “Financing climate resilience essentially corresponds to the repayment of a debt owed by the countries that have caused the most climate change to those that suffer the worst effects. High-income countries have avoided paying this debt for years. “said Luke Fletcher, executive director of Jubilee Australia. The report, the recommendations of which will be included in the declaration that the Pacific nations will submit to the COP27 (from 6 to 18 November next), among other things, it is also asking for an annual funding of one billion dollars to be guaranteed to cover the costs of climate adaptation. At the moment the islands of the region receive half of this sum for the development of climate resilience.