New Zealand's Climate Change Minister announces contribution.
New Zealand's Climate Change Minister Simon Watts has announced that New Zealand will contribute NZ$10 million to the new Fund for Responding to Loss and Damage, while attending the annual United Nations Climate Change Conference (COP29) in Baku, Azerbaijan. This funding is part of New Zealand's NZ$1.3 billion climate finance commitment for 2022-2025.
The fund was established last year at COP28 to support developing countries that are particularly vulnerable to the adverse effects of climate change. Minister Watts stated that addressing loss and damage from climate impacts is a high priority for New Zealand, especially in the Pacific region where resilience is crucial.
New Zealand's contribution aims to deliver effective support to those affected by climate change, enabling them to recover and build stronger communities. This funding is administered by the Ministry of Foreign Affairs and Trade through the International Development Cooperation Programme, with over half being delivered in the Pacific and supporting climate adaptation initiatives.
This marks New Zealand's second specific investment targeting loss and damage caused by climate change. The country's contribution aims to join global efforts in addressing this significant challenge.