When: 20 Nov 2024, 10:00 - 11:00, Room: SIDE EVENT 4.

Where: UNFCCC COP29, The Palau Pavilion, Blue Zone 

What:  This side event aims to explore the Global Commons Climate Fund concept as an innovative financing mechanism for climate justice in Palau and other SIDS.

Palau is particularly vulnerable to sea-level rise and an increase in extreme weather events such as storm surges, given that the majority of its population, infrastructure and cultural sites are in coastal areas. About 25% of Palau citizens live below the poverty line, and vulnerability to natural disasters causes significant economic precarity, and impacts water and food security. 

Through interactive presentations and discussions, participants will explore the benefits, challenges, and opportunities of establishing a Global Commons Fund for somewhere like Palau. We will also discuss potential governance structures, financing mechanisms, and implementation strategies to ensure the fund's effectiveness.

Moderated by: Kato Ewekia, founder of Saving Tuvalu, and featuring panelists from Equal Right and Cool Earth.