Pacific Leaders Demand Fairer Global Finance At UN ConferenceDelivered By The Prime Minister Of Tuvalu, Chair Of PSIDS
'The choice before us is stark: stand with the most vulnerable and deliver justice, or uphold a flawed system that deepens inequality and crisis,' declared Prime Minister Teo.
Amid rising climate threats, deepening debt crises, and a widening development financing gap, the PSIDS group urged bold global action across six key areas:
Climate Justice Now: Prime Minister Teo questioned the lack of urgency, asking, 'Where is the Marshall Plan for climate action?' and called for scaled-up climate finance and immediate replenishment of the Loss and Damage Fund.
Targeted Support for Vulnerable Countries: The PSIDS welcomed the reaffirmation of SIDS as countries in special situations and pushed for the immediate use of the Multidimensional Vulnerability Index (MVI) in allocating concessional finance.
Tackling Inequities in Global Taxation: The group supported a UN Framework Convention on Tax Cooperation, advocating for fair taxation of billionaires and multinationals, with PM Teo stating, 'A 2% tax on billionaire wealth could unlock $250 billion annually — enough to start closing global financing gaps.'
Restore Correspondent Banking Access: The group called for concrete action to protect vulnerable jurisdictions in the Pacific from losing vital international banking relationships.
Financing the Ocean Economy: Reaffirming that the ocean is core to PSIDS identity, the group demanded that ocean initiatives — like SDG14 and the BBNJ Agreement — be fully funded and integrated into global mechanisms.
A Just Transition from Fossil Fuels: Disappointed by the removal of fossil fuel phase-out language from the outcome document, the PSIDS called for a 'just, equitable, and time-bound global phase-out.'
'PSIDS contributed negligibly to this emergency — yet here we are, bearing its full cost,' Prime Minister Teo reminded delegates.
The Pacific Small Islands Developing States PSIDS, endorsed the Sevilla Platform for Action as a critical tool for follow-through, while also expressing concern over the dilution of ambition in the final outcome document. 'What we need now is not more plans, but political will, bold leadership, and relentless implementation,' said Prime Minister Teo in closing.
As small island nations with vast ocean territories and deep cultural resilience, the PSIDS continue to advocate for a global financing system that is fair, future-focused, and fit for purpose.
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NZ Herald
5 days ago
- NZ Herald
Not only are rising seas causing people to leave, but warming waters are forcing out tuna
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Scientists predict that climate change will push tuna away from Pacific Island nations and towards the high seas, where wealthier countries with large fishing fleets - China, Japan, South Korea and the United States - will catch them without paying licence fees. It is yet another climate danger for a country - population 10,000 - whose existence is already threatened by rising seas, increasingly powerful storms, and a potential exodus of people. 'It's ironic that the ocean, which has been the sustainer of our livelihood and economy, suddenly poses all these threats to us,' Tuvalu's Prime Minister, Feleti Teo, said in an interview here. Ranol Smoliner, right, and his uncle Kauaka Petaia fish for tuna in the Pacific Ocean near Funafuti, Tuvalu, in early April. Photo / Carolyn Van Houten, the Washington Post This low-lying atoll nation has become a premonition of climate change. 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A State Department spokesperson said in an emailed statement that the department 'will continue … to align its activities and programmes with the foreign policy priorities of the president and the secretary.' When Kauaka Petaia returned to shore, his son Siuele was there to help him unload the tuna. The 27-year-old said he had no desire to follow in his father's footsteps. Instead, he would soon head to Australia to work in a meatpacking plant, where the pay is more certain. 'By 2030 or 2050,' he said, 'I don't know if tuna fishing will still be a job in Tuvalu.'
Scoop
20-07-2025
- Scoop
No Health, Gender And Economic Justice Without Ending Wars, Invasions And Genocides
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We need to include democratisation of the decision-making processes across the international financial institutions and the multilateral development banks,' rightly concludes Sai Jyothirmai Racherla. Shobha Shukla – CNS (Citizen News Service) (Shobha Shukla is a feminist, health and development justice advocate, and an award-winning founding Managing Editor and Executive Director of CNS (Citizen News Service). She was also the Lead Discussant for SDG-3 at United Nations High Level Political Forum (HLPF 2025). She is a former senior Physics faculty of prestigious Loreto Convent College; current President of Asia Pacific Regional Media Alliance for Health and Development (APCAT Media); Chairperson of Global AMR Media Alliance (GAMA received AMR One Health Emerging Leaders and Outstanding Talents Award 2024); and coordinator of SHE & Rights (Sexual Health with Equity & Rights). Follow her on Twitter/X @shobha1shukla or read her writings here
Scoop
03-07-2025
- Scoop
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3 July 2025 Activists, many from the Global South, attending the talks in Spain, are calling for greater leadership and commitment from wealthier nations to help address long-standing structural inequalities. The 4th International Conference on Financing for Development (FFD4) carries strong symbolic weight, reflected in the agreed priorities of the Sevilla Commitment. However, organizations warn that there is still a long way to go before promises translate into tangible action. Good timing That is the message from Paula Sevilla, a representative of the International Institute for Environment and Development (IIED) – a London-based research centre – who has worked for decades on sustainability and climate justice in Latin America, Africa, and Asia. 'This summit has come at a crucial time to try to restore faith in international cooperation, especially after the pandemic, which exposed a lack of global solidarity,' she stated. 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Housing is a source of anguish and distrust among citizens, and it has been completely ignored,' Ms. Sevilla said. Despite this, her organization is working to leverage the Sevilla outcome to find ways to channel funding into providing more affordable homes. Commenting on the initiative led by Spain and Brazil to work towards fair taxation and push back against tax avoidance by the world's richest – promoting more transparency and accountability – the IIED representative said it could be a useful path toward correcting structural inequalities. Tax for development ' We need leadership from the Global North, where many of the world's major tax-avoiding corporations are based. Without their commitment, we won't move forward,' she stated. She also criticized the absence of the United States from the summit – not only as a diplomatic setback but also as a worrying precedent following the dismantling of its international development agency, USAID. 'We're talking about people counting their pills to figure out how many days of life they have left. This is dramatic,' she emphasised. With just five years remaining to meet the Sustainable Development Goals, Ms. Sevilla warned that time is running out – and that the Sevilla Commitment will be meaningless without real change. ' We need political leadership, a will to cooperate, and a commitment to protect democratic space. In the end, it's organized people who keep hope alive and hold leaders accountable,' Ms. Sevilla concluded. Concerns for the poorest Meanwhile, the UN Capital Development Fund – a hybrid development and finance organization within the UN system – warned against leaving the world's poorest behind. 'At FFD4, we've seen exciting coalitions around substantive solutions using blended finance. And while they are significant, it's important that we guard against a two-tier outcome that leaves the hundreds of millions of people who are living in extreme poverty out of the equation,' said Pradeep Kurukulasuriya, Executive Secretary of UNCDF, which is mandated to unlock finance for the most underserved markets. ' We need private sector capital to flow, not only in middle income countries and the rising stars of the Least Developed Countries that are preparing for graduation. But also to countries and communities in fragile, vulnerable and crisis situations. UNCDF, working with partners across the UN family, has the capabilities to do just that.' UNCDF works in partnership with international organizations and UN entities to deliver blended finance solutions – including concessional loans, grants and guarantees – in any sector, to de-risk markets and drive sustainable economic growth. The Sevilla Commitment in brief: The Sevilla Commitment sets out a new global roadmap to raise the trillions of dollars needed each year to achieve sustainable development, building on previous international agreements It calls for fairer tax systems, cracking down on tax evasion and illicit financial flows, and strengthening public development banks to support national priorities The agreement highlights the need for new tools to ease debt pressures on vulnerable countries, including debt-swap schemes, options to pause payments during crises, and better transparency Countries committed to boosting the capacity of multilateral development banks, increasing the use of special drawing rights, and attracting more private investment to support development It also aims to make the global financial system more inclusive and accountable, with improved coordination, stronger data systems, and broader participation from civil society and others The Commitment launches the Sevilla Platform for Action, which includes over 130 initiatives already underway to turn the pledges into real-world results.
