AOSIS Media 334d ago

The Prime Minister of Vanuatu makes a powerful call about the importance of all countries striving to develop new and 1.5C-aligned climate targets in their 2025-2035 Nationally Determined Contributions to the Paris Agreement, and to include loss and damage. Salient features of Vanuatu's draft NDC 3.0: Meets all obligations as outlined in Paris Agreement Articles 4.2 and 4.11 and COP Decision 1/CP.21 paragraph 23, for enhanced ambition for the period of 2025-2035 Includes 204 measurable and time bound commitments: 33 on mitigation, 126 on adaptation and 45 on loss & damage Sets an economy wide quantitative emissions reduction goal of 1,608.57 kt CO₂ eq by 2035; and maintaining its current net negative status Aligns with the Global Stocktake outcome goals of phasing down fossil fuels to limit warming to 1.5C, tripling renewable energy, doubling energy efficiency and doubling adaptation finance Is fully costed at 334,981,463,850 VUV ( 2,768,441,850 USD) with a 19.48% share to mitigation, 39.43% to adaptation and 41.08% to loss and damage. Serves as an investment framework with a comprehensive analysis of the key sources of finance and preferred financial instruments for each grouping of commitments Articulates key gaps and constraints to implementation, and assesses progress in meeting each target and commitment Establishes a Country Platform for coherent, complementary and well coordinated climate finance and programming based on the NDC