Climate disasters cost small island states and the world's poorest countries $16 billion last year.
The number of people affected by climate disasters in Least Developed Countries and Small Island States has doubled in the last decade, according to new Oxfam Australia analysis.
Released today, as Australia launches its Declaration on Access to Climate Finance for Small Island Developing States (SIDS) and Least Developed Countries (LDCs) at Pre-COP31 in Fiji, Oxfam data crunching has uncovered that climate disasters cost these countries a record $16 billion last year - the most expensive climate disaster bill in at least 20 years.
SIDS and LDCs contribute far less to global emissions than high income countries like Australia, yet climate change and the increase in extreme climate disasters disproportionately impacts these countries.
Analysing climate disaster data for SIDS and LDCs across a 20-year period, Oxfam Australia found:
Climate disasters affected an average of 41 million people each year in the past decade in these vulnerable counties, more than Australia's entire population. That's almost double the number of people affected than in the previous decade.
In the last decade, costs increased by 60 percent, compared to the previous decade.
SIDS contain all the Pacific countries in the Australia-Pacific region. In SIDS alone:
4 million people each year were affected by climate disasters in the last decade, up 4 times more than the previous decade.
Average annual climate disaster costs increased by 163 percent in the past decade compared to the previous
Tuvaluan Climate Activist Grace Malie said: "This data is not surprising to those of us in Tuvalu. We have been watching the changes happen around us and living with the consequences for years.
"What is difficult is knowing that communities like ours, who have contributed so little to this crisis, are among those being asked to make the biggest sacrifices. This is why climate action for Tuvalu is about whether our people can continue to live and belong on our islands."
After many developed country's previous climate finance pledges expired last year - including Australia's - Oxfam Australia is calling on the government to lead by example as President of Negotiations at the COP31 global climate summit this year.
Oxfam Australia Policy and Advocacy Lead, Josie Lee said: "Oxfam welcomes the Australian government's initiative to help low-income countries overcome barriers to accessing climate funding.
"This funding needs to be provided direct to countries and communities as grants, avoiding complicated bureaucratic processes. Without action to reduce barriers, those most impacted will struggle to get the financial support they need and could be burdened with unrepayable debt."
"Communities from the white mountain peaks of Nepal to the blue oceans of the Pacific are being devastated by the impacts of climate change. Wherever the extremes hit, it will be the people with the least who bear the highest price."
Nepal, a Least Developing Country, is facing a US$4.7 billion (AU$7 billion) climate damage recovery and reconstruction bill, which is around 10% of Nepal's GDP, after the recent catastrophic flashfloods. Yet approval of its request for funding from the UN Fund for Responding to Loss and Damage (FRLD) remains uncertain.
Climate and Water lead for Oxfam in Nepal, Anjil Adhikari said: "Should countries that contributed very little to creating the climate crisis have to borrow money, and potentially increase their debt burden, to revive and protect themselves from consequences?
"Nepal contributes just 0.1% of global climate pollution, yet our communities are facing worsening floods, landslides, drought, extreme heat, and water insecurity every year."
The approaching 'godzilla' El Niño, being super charged by the heating climate, could increase risks to global food security, contribute to more severe weather impacts across the Pacific, and exacerbate drought and bushfire risks in Australia. Increased international climate finance is critical to helping communities respond to these impacts and to reducing poverty and inequality across the region.
As President of Negotiations at COP31, the Australian Government must:
Lead by example, setting a new and ambitious climate finance goal of $11 billion from 2025-2030 to provide much needed support to least developed countries in our region
Guide and inspire developed countries to make new climate finance pledges to developing countries in line with UNFCCC agreements
Work with key funds and financial institutions to increase access to funding for low-income countries facing huge climate change risks
Fast track the just transition away from fossil fuels to reduce the overshoot of 1.5 degrees heating limit set in the Paris Agreement, and thus reduce climate related losses and damages.
