As negotiators head home after two weeks of climate talks, there is a lot to applaud in the Paris Agreement, which was agreed to early Saturday morning.
Highlights include global mitigation commitments, a transparency regime and a long-term goal.
However, the reality is that it will take sustained political leadership and innovative local action to meet these ambitious targets.
Islands are least responsible for climate change but the most vulnerable to the current climate risks, and they will need to make major investments in resilience. From Hawaii to Kiribati, Seychelles and the Maldives, islands are on the frontline of climate change. They are already experiencing sea level rise, natural resources constraints, biodiversity loss and vulnerability to weather-related natural disasters.
For islands, it’s not about future risks, but a real and present threat to economic growth and ways of life, which is currently costing billions. To reduce this risk, islands will need to leverage public and private resources to catalyze investments in sustainable development. That’s why the Obama administration pledged to support new types of insurance initiatives that transfer risk from governments to the private market and help communities bounce back and rebuild quickly after natural disasters.
But islands are not just sitting back waiting for others to help them; they are leading as laboratories for innovation. The Seychelles debt-for-nature swap announced in Paris, for example, will free up $30 million in restructured debt to support conservation and climate resilience.
The Commonwealth countries, over half of which are island states, recently launched a $1 billion Green Finance Facility to support sustainable development projects.
Financial institutions are key drivers behind this initiative, building the market infrastructure to catalyze large-scale investments in a low-carbon economy. Green bonds, a billion-dollar market linked to environmentally friendly investments, will help raise the upfront capital to support clean energy and green infrastructure projects.
Complementary actions by government, businesses and investors are crucial to achieving lofty climate goals.
In Hawaii, the Aloha+Challenge sets 2030 statewide sustainability targets and enjoys the highest-level political support from the governor, county mayors, state Office of Hawaiian Affairs, the state Legislature and community leaders. The targets include clean energy, local food production, reductions in solid waste, fresh water security and natural resource management, smart sustainable communities and education and green workforce.
An ambitious legislative and policy action agenda is needed in 2016 to achieve our Aloha+Challenge targets by 2030. The upcoming U.S.-hosted IUCN World Conservation Congress in Hawaii this September will provide an opportunity to showcase innovative Hawaii solutions that help islands and the world deal with the worst effects of climate change. This will build on President Barack Obama’s commitment to partner with local leaders in communities affected by climate change, from Alaska to Hawaii, to mobilize investments in resilience and green jobs that support a secure and clean energy future.
While the Paris Agreement established an important high-level framework, the real world impact will need to be driven at the local government and community levels around the world. Only then will the sustainable future we want be achieved.
Hawaii, with our Hawaiian culture, island values and history of sustainability, is well positioned to lead such a movement — and the stakes could not be higher.
