Latest news with #ClimateChangeAdaptation
Scoop
13 hours ago
- Politics
- Scoop
Vanuatu Climate Minister Ralph Regenvanu On UN Ocean Conference
Press Release – Government of Vanuatu Nice Action Plan comes ahead of anticipated ruling from International Court of Justice that could set path for climate action linked to accountability 'It is time to move beyond voluntary pledges to making climate action a binding legal duty.' Statement from Ralph Regenvanu, Minister of Climate Change Adaptation, Meteorology & Geo-Hazards, Energy, Environment and Disaster Management for the Republic of Vanuatu NICE, FRANCE (9 June 2025) 'At this UN Ocean Conference, the stakes could not be clearer. 'Vanuatu's contributions to climate change are minimal, yet we — and our neighbours — suffer severe repeated climate impacts that devastate our economy and people. We are living through the collapse of ocean stability and witnessing a dangerous acceleration in sea-level rise and ocean temperatures. Our oceans are increasingly hostile even to the very creatures that live in them. The consequences of this will ripple through the entire food chain, hitting vulnerable countries like Vanuatu the hardest and ultimately affecting all of humanity and future generations. The role of our ocean as our greatest carbon sink is being threatened. 'The Nice Ocean Action Plan aligns with the standards set by the landmark International Tribunal for the Law of the Sea (ITLOS) Advisory Opinion delivered in May 2024, which made it clear: greenhouse gas emissions are marine pollution. And under the UN Convention on the Law of the Sea, all States are legally bound to prevent, reduce, and control them. This obligation extends not only to domestic emissions but to global ones as well. 'Even so, plans like these are voluntary. Promises without enforcement. Declarations without duty. 'Protecting the ocean from climate change should not be a matter of choice. We need concrete mechanisms and independent monitoring to ensure that nations uphold their legal responsibilities. Conferences like this one, and the upcoming COP30, must not leave frontline nations feeling that nothing is changing — despite the overwhelming urgency. 'It is time to move beyond voluntary pledges to making climate action a binding legal duty.' Climate action must be grounded in a robust framework of legal principles: human rights, the right to self-determination, the duty to prevent harm, precautionary approaches, intergenerational equity, and obligations enshrined in key international treaties — from the Biodiversity Convention to the UNFCCC to the Law of the Sea. 'That's why we eagerly await the International Court of Justice's Advisory Opinion on the broader climate obligations of nations, in hopes of a strong ruling supporting global accountability for the climate crisis and enforceable climate action. 'It's time for States to catch up with the law, with the science, and with the urgency of this moment.'
Scoop
18 hours ago
- Politics
- Scoop
Vanuatu Climate Minister Ralph Regenvanu On UN Ocean Conference
'It is time to move beyond voluntary pledges to making climate action a binding legal duty.' Statement from Ralph Regenvanu, Minister of Climate Change Adaptation, Meteorology & Geo-Hazards, Energy, Environment and Disaster Management for the Republic of Vanuatu NICE, FRANCE (9 June 2025) 'At this UN Ocean Conference, the stakes could not be clearer. 'Vanuatu's contributions to climate change are minimal, yet we — and our neighbours — suffer severe repeated climate impacts that devastate our economy and people. We are living through the collapse of ocean stability and witnessing a dangerous acceleration in sea-level rise and ocean temperatures. Our oceans are increasingly hostile even to the very creatures that live in them. The consequences of this will ripple through the entire food chain, hitting vulnerable countries like Vanuatu the hardest and ultimately affecting all of humanity and future generations. The role of our ocean as our greatest carbon sink is being threatened. 'The Nice Ocean Action Plan aligns with the standards set by the landmark International Tribunal for the Law of the Sea (ITLOS) Advisory Opinion delivered in May 2024, which made it clear: greenhouse gas emissions are marine pollution. And under the UN Convention on the Law of the Sea, all States are legally bound to prevent, reduce, and control them. This obligation extends not only to domestic emissions but to global ones as well. 'Even so, plans like these are voluntary. Promises without enforcement. Declarations without duty. 'Protecting the ocean from climate change should not be a matter of choice. We need concrete mechanisms and independent monitoring to ensure that nations uphold their legal responsibilities. Conferences like this one, and the upcoming COP30, must not leave frontline nations feeling that nothing is changing — despite the overwhelming urgency. 'It is time to move beyond voluntary pledges to making climate action a binding legal duty.' Climate action must be grounded in a robust framework of legal principles: human rights, the right to self-determination, the duty to prevent harm, precautionary approaches, intergenerational equity, and obligations enshrined in key international treaties — from the Biodiversity Convention to the UNFCCC to the Law of the Sea. 'That's why we eagerly await the International Court of Justice's Advisory Opinion on the broader climate obligations of nations, in hopes of a strong ruling supporting global accountability for the climate crisis and enforceable climate action. 'It's time for States to catch up with the law, with the science, and with the urgency of this moment.'
Reuters
01-04-2025
- Business
- Reuters
China's to sell first global green sovereign bond on Wednesday
LONDON, April 1 (Reuters) - China is set to finalise its long-awaited debut global green sovereign bond on Wednesday in what is expected to be the first in a series of sales that will expand its footprint in the market at a pivotal time. Having signalled it was ready last month, top Chinese finance ministry officials laid out the details at a meeting with investors in London on Tuesday, where the 6 billion yuan ($825 million) bond is set to be issued on the London Stock Exchange. The green bond market has ballooned to be worth roughly $3 trillion in recent years. China's firms, including state-run ones, have contributed significantly to that growth, but international investors have long been waiting for the government to make its move for years. Chinese Finance Ministry's Director General Yu Hong and his Deputy Director General Xing Chaohong outlined that it would come in two parts - one with a 3-year maturity - or end date - and the second with 5-year maturity. Both will have fixed interest rates. They are expected to be sub 2% although it will depend on demand during the formal sale process which is being overseen by no fewer than eight banks from both China and Europe. A Chinese global bond - one issued in one of the main international finance centres - has long been anticipated given the country's size. China's plan finally emerged earlier this year after British Finance Minister Rachel Reeves met China's Vice Premier He Lifeng in Beijing to discuss "pragmatic co-operation" on financial services, trade, investment and climate issues. China is the world's largest producer of climate-warming greenhouse gases, but has said it wants to bring its carbon dioxide emissions to a peak before 2030 and become carbon neutral by 2060. In February, the finance ministry published its green bond framework, calling it an effort to "attract international funds to support domestic green and low-carbon development." It flagged Climate Change Mitigation, Climate Change Adaptation, Natural Resource Conservation, Pollution Prevention and Control and Biodiversity Conservation as its five key priorities. One investor who attended Tuesday's meeting said some of the details on what exactly the money raised would be used for included the country's electric vehicle charging network and its national parks. ($1 = 7.2697 Chinese yuan renminbi)
