‘Public and private finance need to be scaled up so that the most vulnerable can adapt to Climate Change’ – Malta at COP29

“The 1.5-degree target is a matter of survival for millions around the world,” declared Minister for the Environment, Energy and Regeneration of the Grand Harbour Miriam Dalli during Malta’s national statement at COP29 in Baku.

Calling for immediate and decisive action, the minister urged countries to prioritise the needs of vulnerable communities while ensuring global efforts are ambitious and inclusive.

Speaking on behalf of Malta, the minister outlined specific measures that COP29 must deliver to address the escalating climate crisis effectively.

1.⁠ ⁠National commitments that focus on mitigation and adaption alike:

Malta called for enhanced Nationally Determined Contributions (NDCs) that seamlessly integrate mitigation and adaptation strategies. “Our experience shows that resilience and sustainability cannot be achieved in silos. They must go hand in hand,” the minister emphasised.

2.⁠ ⁠A bold climate finance agreement:

Malta stressed the need for a New Collective Quantified Goal (NCQG) on Climate Finance that reflects today’s realities, with a broader donor base and a mix of public and private financing to ensure equitable funding for vulnerable nations.

3.⁠ ⁠Innovation:

Highlighting Malta’s pioneering work, including the Climate Vulnerability and Resilience Index and microfinancing initiatives, the minister showcased how innovative approaches can mobilise green funding for small island developing states and least developed countries.

During her address, Minister Miriam Dalli also shared Malta’s ongoing efforts to achieve climate neutrality, including the establishment of the Climate Action Authority to ensure an integrated approach across all sectors.

“The time for action is now. Every decision we make at COP29 will determine whether we deliver a sustainable and equitable future,” stated the minister.