Delegates Underline Need to Mitigate Devastating Impacts of Climate Change, Forgive Crippling Debt, as Second Committee Continues Its General Debate
Highlighting persistent roadblocks and hindrances to achieving the Sustainable Development Goals (SDGs), speakers stressed the need to mitigate the devastating impacts of climate change, build economic resilience, boost financing and forgive crippling debt, as the Second Committee (Economic and Financial) continued its general debate today.
Tajikistan’s delegate noted that climate change has a disastrous effect on the rapid melting of glaciers, a critical source of fresh water. Nearly 2 billion people, many in mountainous areas, depend on glaciers for freshwater, he said, adding that about 30 per cent of glaciers have disappeared in Tajikistan over the last century. “Without urgent action, these critical sources face irreversible damage,” he stressed.
Kyrgyzstan’s delegate likewise voiced alarm at accelerating glacier melting and dwindling water resources in mountain ecosystems. “These consequences threaten livelihoods,” she stated, adding that Kyrgyzstan faces the triple challenges of investing in development, reducing poverty and adapting to climate change. Her delegation proposes expanding the “debt-for-nature mechanism” globally to aid developing and least developed countries in combating climate change.
Gambia’s delegate emphasized that the effects of climate change are particularly severe in developing countries, with extreme weather events like windstorms and flooding, heightening people’s vulnerabilities and threatening to reverse limited progress made. “These challenges undermine aspirations for improved food security and nutrition,” she said. Stabilizing food supply chains requires prioritizing new technologies and fostering global partnerships that support climate-smart agricultural practices.
She underscored the need to revitalize multilateral frameworks through enhanced international cooperation and a reformed financial architecture. Such reforms are crucial to ensuring that global finance is accessible to accelerate SDG implementation and expand access to development and climate financing. She also called on the international community to extend debt relief to developing countries, which is essential for creating the fiscal space required to achieve the SDGs.
Similarly, the representative of Jamaica said climate change poses “a formidable challenge and poses a clear and present danger to small island developing States,” who are positioned at the forefront of the crisis. All countries must maintain the target of limiting global temperature increase to 1.5°C, through enhanced nationally determined contributions, based on the principle of common but differentiated responsibilities.
He said global resilience lies in the collective capacity to anticipate, adapt and flourish beyond adversity and create requisite frameworks that can withstand, rebound and recover from shocks. This entails transitioning to renewable energy sources, safeguarding biodiversity and enhancing disaster risk management. It is through these actions that the international community can mitigate the impacts of climate change and build resilient ecosystems.
Addressing financing, the representative of Costa Rica said that the international community must increase current climate mitigation funding at least threefold “if we are serious about limiting global warming to 2°C or less”. This climate finance should not be seen as an unwelcome burden or concession as “the long-term benefits massively outweigh the initial investment”. Climate finance contributes to mitigating the effects of climate change and creates new opportunities for job creation that can benefit women and youth.
In a similar vein, Kenya’s delegate, dubbing climate change an existential threat, said it can reverse hard-won economic progress, especially in Africa. Climate resilience must be assured, he said, emphasizing the need for easier access to finance through multilateral institutions. Also stressing the importance of economic resilience, he said countries facing mammoth debt often spend more on interest payments than economic recovery, pushing them deeper into fragility and further from resilience.
Cameroon’s delegate similarly underscored the urgency of “freeing developing countries from the heavy and asphyxiating burden of debt,” ensuring their representation within global institutions and guaranteeing them more equitable access to affordable financing. He advocated for a Global Green Fund dedicated to financing renewable energy projects, innovative development financing, and inclusive and effective international fiscal cooperation. Welcoming the adoption of the Global Digital Compact, he nonetheless voiced concern that 2.6 billion people remain unconnected in low-income countries.
Joining previous calls, Viet Nam’s representative said the international community should continue fostering domestic economic resilience through effective financial policies. It should also enhance financial support from developed countries and international financial institutions to developing States. He noted that Viet Nam is ranked fifty-fifth out of 166 countries in progress towards the SDGs, but much needs to be done to restructure the economy and mitigate and adapt to the impact of climate change.
Highlighting his country’s success, India’s representative said it has made strides to meet the SDGs by expanding opportunities for employment and entrepreneurship, including through stronger training and large-scale financial incentives, lifting 250,000,000 people out of poverty. “In India, we have demonstrated that sustainable development can be successful, and we are ready to share this experience with partner countries,” he said.
On climate action, India has “walked the talk,” he said. “We were among the first Group of 20 nations to fulfil its Paris commitments on green energy,” he said, adding that the country remains committed to achieving 500 gigawatts of non-fossil fuel energy capacity by 2030. India has also launched the National Green Hydrogen Mission, aiming to develop green hydrogen production capacity of at least 5 million metric tons per annum.
Also citing successes, Mongolia’s delegate said his country has been deploying revival policies following COVID-19, including the “One Billion Trees” campaign. As a result, Mongolia’s economic growth reached 7 per cent by the end of 2023, foreign exchange reserves hit $5 billion and gross domestic product (GDP) reached the threshold for upper-middle-income countries. His Government is striving to pave the way for a green transition by mobilizing both public and private sector financing, while maintaining public debt sustainability.
The representative of the United Arab Emirates, describing climate change as one of the most pressing crises of today’s world, stressed that resilience to it must be built through proactive action. Addressing that, Maldives’ delegate noted that funding for climate adaptation is nowhere near sufficient to address current needs of the most affected countries and communities. He urged all parties to ensure that the new collective quantified goal on climate goes beyond existing commitments and is easily accessible for those who need it the most.
Focusing on conflict and development, the permanent observer for the State of Palestine highlighted multidimensional challenges facing the world today, including the ravaging effects of climate change and pervasive humanitarian crises. Palestine itself is enduring severe trials, he added, including the colonial occupation and genocidal aggression against its people. Israel’s most recent onslaught has caused unprecedented damage, which undermines development and threatens the very existence of the Palestinian people.
Also addressing conflict, Ukraine’s delegate said the Russian Federation’s war of aggression against his country has severely undermined progress on the SDGs, both there and globally. Over the past two-and-a-half years, millions of Ukrainians have been displaced, while “Russian attacks on our critical infrastructure, especially in energy and transport, make it imperative to strengthen our resilience and pursue new avenues of connectivity,” he stated.
The sooner the war ends, peace in Ukraine will contribute to the stabilization of global security and accelerate achievement of the SDGs. Rebuilding Ukraine is the Government’s top priority “and we are working on this even as the war continues,” according to the principle of build back better, he said. Stressing the importance of de-mining, as vast areas of Ukraine remain contaminated by explosives, he pointed to the Ukraine Mine Action Conference to be held on 17-18 October in Lausanne, Switzerland.
On development assistance, China’s delegate said his country has provided aid to over 160 countries under the framework of South-South cooperation and joined hands with more than 150 countries to implement the Belt and Road Initiative. More than 100 countries and over 20 international organizations have actively supported and participated in the Initiative, with nearly $20 billion worth of development funds mobilized and invested, and over 1,100 cooperation projects conducted.
The Committee will meet again at 10 a.m. on Wednesday, 9 October, to complete its general debate. Immediately following the conclusion of the general debate, the Committee will attend a side event on “Shaping an Environmentally Sustainable and Inclusive Digital Future”, organized by United Nations Conference on Trade and Development (UNCTAD) and the United Nations Environment Programme (UNEP). In the afternoon session, the Committee will take up operational activities for development.