AOSIS — THE PLACENCIA AMBITION FORUM RECAP
OPPORTUNITIES
1
Through the response to the COVID-19 crisis, there is
potential to address climate change, by factoring climate
targets into stimulus packages which would enable transition
to greener, cleaner and more resilient societies. Accelerated
expansion of renewable energy capabilities in SIDS and LDCs
are consistent with efforts to bolster the sustainable water and
energy supply needed for medical, domestic and agricultural
purposes that this pandemic has exposed.
2
Collaboration and engagement with the private sector
are critical for increasing NDC investment, especially in
terms of encouraging private sector investment, and helping
the private sector to understand the impacts of climate change
on their shareholders. It is necessary to unlock private finance
as it is instrumental in implementing ambitious climate plans.
3
The Petersburg Dialogue provides another platform to
discuss enhancement of climate ambition. Additionally,
the Youth4Climate Summit will take place in Milan, enabling
youth to provide innovative and new ideas to address climate
change.
2
Following the Placencia Ambition Forum, the drumbeat
of ambition must be sustained and elevated, leading
up to COP 26 and beyond. This is necessary to close the gap
between where we are now, and where we need to be to limit
global warming to 1.5°C above pre-industrial levels.
3
There is a need to mobilize additional climate financing
commensurate with the 1.5°C goal, coupled with the
need to re-evaluate and restructure global financial systems
to improve financial flows and access to finance, in order for all
countries to meet the collective goals of the Paris Agreement.
Concessional financing and blended financing are options
available to help overcome these hurdles, and will also entice
the private sector by de-risking investments.
4
The intersecting Climate Change and COVID-19 crises have
placed the world at a unique crossroads, where decisions
must be taken to address both challenges simultaneously. The
stimulus packages and other responses to COVID-19 should be
aligned with climate targets, and enable transition to greener,
cleaner and more resilient societies. Self-determination has to
be at the core of this process to ensure implementation is fit
for purpose.
FINAL TAKEAWAYS
1
The Placencia Ambition Forum concluded on the 50th
Anniversary of Earth Day. It marks another historic
milestone in over 30 years of advocacy by SIDS for the
protection of our planet, and the future of its most vulnerable
people. The world must unite and join these efforts.
10
5
To address the unprecedented challenges we face today,
global solidarity is required for a united and inclusive
response involving governments, civil society, private sector
and all relevant stakeholders. In doing so, we must ensure the
voices of indigenous people, local communities, women, youth
and the most vulnerable are amplified and heard.