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Outcomes and Actions

Wednesday 19 – Friday 21 April 2023 | WP3182

Flooded land Fiji

2024 4th UN SIDS Conference Strategy: Partners showed commitment to ensure SIDS4
drives transformational change. The global SIDS Alliance (AOSIS) is developing an
action-focused Roadmap, around which key likeminded partners who attended Wilton
Park will coordinate messaging and amplify SIDS voices. The group agreed on the need
for change in the international community’s approach on development away from purely
income growth to sustainable, resilient prosperity. The SIDS4 outcome document should
be focused and prioritised to enable shared action and make it easier to hold the
international community to account. Key areas for focus could be: (1) Addressing
vulnerabilities; (2) Reforming access to finance; and (3) Improving development
effectiveness. These will be further developed through the UN SIDS Regional
Consultation meetings.

Summit real-world outcomes: Consultations will continue on impactful policy initiatives
to launch ahead of the Conference. These include the Development Assistance
Committee (DAC)-AOSIS Taskforce and a potential centre of expertise on SIDS data.
Efforts may also engage the private sector, crowding in private finance, and supporting
renewable energy projects in SIDS to support energy security and economic resilience.

Climate Finance tailored approaches: Partners will work to tackle onerous
bureaucracies in Climate Finance, particularly through the Green Climate Fund (GCF)
replenishment this year and ensuring SIDS voices are heard by the Board. Board
Member countries are encouraged to help ensure all SIDS voices are heard by the GCF
ahead of the GCF replenishment. Climate finance such as the funding mechanism for
Loss and Damage should implement the learnings of other climate finance, including the
GCF. Transitional Committee members including the UK will raise this. Partners are
committed to making progress on this by COP28.

Access to finance and vulnerability: Partners are working to implement the Glasgow
Climate Pact commitment to account for vulnerability in financial decisions. Attendees
looked forward to the event on Multidimensional Vulnerability Indexes (MVIs) on 3 May,
hosted by ODI’s Resilient and Sustainable Islands thinktank. The Wilton Park SIDS
Conference enabled detailed conversations on different approaches to implementation,
including engagement with the UN MVI. Partners will continue to collaborate through the
DAC-AOSIS Taskforce and the ‘Friends of SIDS’ coalition, including to discuss reforms to
the Official Development Assistance (ODA) graduation process. Partners will seek to
improve International Finance Institutions’ (IFIs) operational approach to provision of
finance for SIDS, including seeking an event on tailoring Development Banks’
approaches to SIDS at the World Bank Annual Meetings. Integrated finance strategies
can help to identify ideal modalities and sources of finance, including from the private
sector and philanthropy.

Debt: Utilising momentum on improving debt for vulnerable countries (such as through
the Bridgetown Initiative), a consortium of attendees and others will develop a
programme of work to make progress on sustainable debt for SIDS. This could include
sharing best practice for uptake of innovative finance approaches to debt, such as climate
resilient debt instruments and debt for nature and climate swaps.

Quality of finance: National systems should be strengthened and the quality of support
provided by donors on SIDS priorities improved. Attendees suggested pilots
implementing the Principles for Improved Aid Impact to demonstrate improved
development effectiveness in SIDS. Other outcomes may include a SIDS graduation club
to enable sharing of best practice and improved support through transition. Attendees
also recognised the need for improved capacity building for SIDS and the UK, and the
Organisation for Economic Co-operation and Development (OECD) are planning a further
conference on capacity building later in 2024


Small Island Developing States: Improving Finance for Resilience by 2024


Call to Action on Advocacy: Accelerating action towards the 2024 4th UN SIDS Conference

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