On Monday 23 September, the President of the European Commission, Ursula von der Leyen, reiterated the EU’s commitment to supporting Small Island States (SIS) in the face of climate challenges, at a meeting in New York with the leaders of the Alliance of Small Island States.
Ms von der Leyen praised the SIS leadership in the fight against climate change. “Thank you for not only serving your own people but all the people of the world by adamantly calling for awareness”, she declared on the sidelines of the 79th session of the United Nations General Assembly.
The President mentioned three key measures likely to bridge the “global climate finance gap”, including the Global Green Bond Initiative.
On Monday, Ms von der Leyen also announced the creation of a new “Green Coupon Facility” to subsidise the high interest rates that developing countries face when issuing green bonds.
The President also praised the merits of Europe’s experience with carbon pricing. In New York, Ms von der Leyen wants to promote global carbon pricing and discuss the possibilities offered by this incentive. “The principle is as effective as it is simple. If you pollute, you pay. If you go clean, it pays off”, she argued.
Lastly, the President pointed out that the EU’s Global Gateway strategy was already funding projects in several SIS, such as clean energy initiatives in Fiji and Cabo Verde, and a new multifunctional port in Kiribati. (Original version in French by Bernard Denuit)