COP26: Pacific, EU launch landmark alliance

Pacific and European Union negotiators have launched the Blue Green Alliance at the COP26 Conference of Parties' session in Glasgow.

The EU's Ambassador to the Pacific, Sujiro Seam, who's at the UN Climate Conference, said all stakeholders lobbied for an ambitious outcome and accessibility to climate funding.

Mr Seam said the EU will need to show the Pacific how best it can support the implementation of the recently adopted Climate Change Act.

"This is a package of available financing of 197 million Euros, almost 500 million Fijian dollars for the Years 2021 to 2027. This will be implemented in the countries of the Pacific with a very strong focus on climate change."

Seam said the EU will hold further talks with member states to ensure their interests and priorities align with the Climate Act.

Alliance partner members have already established relationships in several countries, to work with governments and enhance their domestic policy, planning, and regulatory frameworks, as well as create more favourable investment environments.

Mark Carney, the UN's special envoy on climate action and finance, said the Glasgow Financial Alliance for Net Zero (GFANZ) deal demonstrated how the financial sector was "no longer a mirror that reflects a world that's not doing enough".

However, environmental groups warned there were too many loopholes in the ambitious plan and no legal obligation on the part of financial institutions to steer clear from investing in carbon-heavy activities.

At the global level, there is a commitment from developed countries to provide $US100 billion in climate finance to countries which need it the most, Seam said.

He said the EU is taking more than its fair share because they are contributing $25b. He said the EU only contributes to eight percent of carbon emissions.

"The key priority areas for Fiji at COP 26 will include keeping 1.5 degrees alive, scaling up support for adaptation and loss & damage, oceans climate nexus, increased climate finance and finalising the Paris Agreement rule book," he said.


Photo Twitter/Sujiro Seam  Caption:  EU's Ambassador to the Pacific, Sujiro Seam