AOSIS — THE PLACENCIA AMBITION FORUM RECAP
CHALLENGES
1
The COVID-19 crisis has posed additional hurdles for all countries which
must be overcome or addressed synonymously with climate change.
This is most acutely faced in SIDS, which have small economies, focused on
industries such as tourism.
2
The amount of climate finance being mobilized is still insufficient to
meet the pathways required to achieve the 1.5-degrees Celsius goal.
Financial systems need to be restructured to enable better financial flows, as
well as access for SIDS, particularly taking into account the current COVID-19
crisis. Developing countries require support to translate their Nationally
Determined Contributions (NDCs) into investment plans, quantify their
needs and build their national and institutional capacities to access funding.
3
Aside from financial constraints, SIDS continue to be hampered by legal
and regulatory barriers that prevent the phasing out of fossil fuels, as
well as constraints in hardware and human capacity.
4
There is need for new approaches that go beyond the typical monitoring
and evaluation framework on a discrete project basis. This new
paradigm must take into account the need for capacity building, knowledge
sharing, and requires greater instances of collaboration and peer review.
SIDS are hampered by small markets, and so need innovative methods to
build out economies of scale from their more limited pilot project successes.
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