Malawi Broadcasting Corporation
Development Environment International

LDCs urgently need $5.9 trillion by 2030 to combat climate change

As the global community prepares for COP29, Ministers from 45 Least Developed Countries (LDCs) have outlined key priorities in the Lilongwe Declaration on Climate Change 2024.

Central to their demands is the urgent need for $5.9 trillion approximately K10.2 quadrillion in climate finance by 2030 to tackle the worsening crisis, with $1 trillion, approximately K1.7 quadrillion specifically required for LDCs’ Nationally Determined Contributions (NDCs).

“We are in dire need of these funds to both mitigate and adapt to the impacts of climate change,” the Ministers asserted in the communique, emphasizing that without this financial support, achieving the necessary emission reductions will be impossible.

They have called for all parties to submit updated NDCs by early next year, aligned with the 1.5°C warming limit.

The declaration also raises alarms over the increasing displacement of people due to climate change, particularly women and children. The Ministers urged the international community to provide robust support and establish effective legal protections for those displaced across national borders.

On global climate resilience, the Ministers stressed the importance of equitable means of implementation.

“Without sufficient and equitable financial and technical support, adaptation and resilience remain unattainable goals,” they cautioned.

The declaration further called for substantial contributions to the Fund for Responding to Loss and Damage (FLD), the LDC Fund, and the Green Climate Fund (GCF) to close the significant gap between existing climate finance and what is needed.

Malawi’s Minister of Mines, Monica Chang’anamuno reiterated on the need for developed countries to expedite financial resources to LDCs if the fight against climate change has to be won.

“You will agree with me that we are still struggling to get ourselves out of the effects of the climate change. And yet, there’s a lot of talk about the finances that are out there, but the question is, are the finances? coming to the countries that are affected? What is happening? and therefore, we are trusting that the discussions that are going to be taking place are going to seriously hook into such issues to see what needs to be done,” said Chang’anamuno.

Finally, the Ministers appealed to the incoming COP29 Presidency of Azerbaijan to prioritize the concerns of LDCs.

“We urge Azerbaijan to ensure that our needs and priorities are fully reflected in the outcomes of COP29,” they concluded, underscoring the critical role of international cooperation in addressing the climate crisis faced by the world’s most vulnerable nations.

#MBCDigital
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