Costa Rica’s Foreign Minister, Arnoldo André, has urged the international community during COP28 to “rethink and reframe climate action funding in a creative and innovative manner, employing novel financial mechanisms, to ensure we stay within the 1.5-degree Celsius limit” above pre-industrial levels.
Speaking to the Emirates News Agency (WAM), on the sidelines of the now-running global event, the top diplomat pointed out that finances for the fight against climate change represent “a challenge” for Latin American countries, which, he said, some consider ‘are too rich to receive support’ while in fact “they are too poor to afford climate change measures.”
The minister’s statements refer to the World Bank and Organisation for Economic Co-operation and Development (OECD) indicators that classify Costa Rica as a medium-high income country, which limits it from receiving some international cooperation to address global threats.
Despite these challenges, André expressed satisfaction with the COP28’s first day,
particularly the approval of operationalising the Loss and Damage Fund and the commitments made by several countries, especially developed nations. While hailing the announcement as a positive step, he cautioned that “it is not enough.”
“Costa Rica has ambitious goals, and there must be sustainable financing for this fund to address the growing damages and losses caused by climate change,” he emphasised.
The Costa Rican Minister highlighted his country’s position as one of 24 nations with an approved national adaptation plan, which they are eager to share with others.
Costa Rica has embarked on an ambitious agenda for sustainable ocean protection, raising awareness of the need for more sustainable marine resource management. Additionally, initiatives like the “agro-landscapes” project have positioned the country as one of the few tropical nations to reverse deforestation.
Earlier this year, Costa Rica expressed its support for the Mangrove Climate Alliance, spearheaded by the United Arab Emirates and Indo
nesia.
“We have vast mangrove areas, and we are eager to expand this cooperation to develop sustainable mangrove protection and utilisation practices together,” the Minister noted.
André asserted Costa Rica’s position as a “global decarbonisation exemplar,” having achieved 99% renewable energy generation from sources like hydropower, geothermal, and a modest amount of solar and wind power.
The top diplomat said relations between Costa Rica and the United Arab Emirates are particularly going through an interesting moment, as the two nations are finalising a free trade agreement that will strengthen commercial ties. “Our embassies are very active, and there is genuine interest in fostering cultural, economic, and all forms of exchange,” he stated.
André expressed gratitude for the United Arab Emirates’ support, which serves as Costa Rica’s gateway to the Middle East region.
Source: Emirates News Agency