Small Island Developing States serve as a stark illustration of the challenges confronting our world: from the threat of rising sea levels to concerns about food and water scarcity; from the increasing frequency of disasters to the disproportionate impact of global crises.
Over the years, I have had the privilege of visiting numerous small island nations.
Time and time again - whether in Vanuatu or Barbuda - I have witnessed firsthand the pressing issues you confront, and how these challenges can escalate to a frightening and existential level.
Yet, amidst these difficulties, islands also stand as pioneers.
Continuously setting the example in addressing climate change, preserving biodiversity, and overseeing a remarkable third of the world's oceans - a crucial asset in combating both climate change and biodiversity loss.
Your leadership serves as a beacon of inspiration for greater ambition, and your voices spur on more immediate actions, as was evident at C.
O.
P.
15 in Paris, reiterated at C.
O.
P.
26 in Glasgow, and beyond.
Furthermore, alongside the commendable leadership of your nations, I am heartened by the increasing support extended by the international community to S.
I.
D.
S.
.
Institutions like the Commonwealth, of which many of you are members, have played a vital role in mobilizing $310 million in climate finance for our small island counterparts since 2016.
The Sustainable Markets Initiative, which I established in 2020, is dedicated to fostering sustainable economic growth, with its corporate partners pledging over $9 trillion globally towards climate and nature-focused investments in carbon mitigation, biodiversity conservation, and environmental restoration.
These partners are also exploring innovative insurance mechanisms not only for disaster recovery but also for enhancing opportunities to invest in resilience and sustainability in vulnerable nations.
Given that large investors require scale, there are significant advantages in collaborative efforts among all of you to consolidate projects and create the necessary scale for companies to invest in these solutions.
Additionally, the Bridgetown Initiative has served as a catalyst for transformation within the international financial system.
Nevertheless, Ladies and Gentlemen, I need not remind you that there is still much ground to cover, and that together, through close collaboration, we can forge new partnerships to attract investments that could usher in sustainable and resilient prosperity for all.
As leaders, you have the power to inspire practical actions on the ground and secure the future of our invaluable and irreplaceable planet.
I extend my congratulations to the governments of Antigua and Barbuda, alongside the United Nations, for organizing this conference, and to the Alliance of Small Island States for their invaluable support.
I sincerely hope that as many of you as possible will attend the Commonwealth Heads of Government Meeting in Samoa later this year.
Until then, I wish you fruitful deliberations ahead.
The issues at hand could not be more critical.
Your future is our collective future.
Our islands, oceans, planet, and ultimately, all of us, require resolute and bold action.