The $140,500 climate defence passport .
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The tiny Pacific Ocean nation of Nauru wants to sell citizenships for the climate-stricken island to help cover the expense of relocating roughly 10,000 residents from low-lying houses threatened by floods and rising sea levels. With a scheme to eventually build a new township, farms, and workplaces, President David Adeang is looking to fund an initial $65 million for efforts to rehabilitate the desolate interior, which has been left an unusable moonscape by decades of phosphate mining. The plan called for the eventual relocation of almost 90% of the population.
The island nation, which is located around 4,000 kilometres (2,485 miles) northeast of the United States, is unlikely to be visited by foreigners who pay at least $140,500 for a passport Sydney, but they can benefit from visa-free travel to places like Singapore, Hong Kong, and the United Kingdom. Nauru, a remote island in the Pacific Ocean, intends to sell citizenships in order to generate money for climate adaption.
"We must take proactive steps to secure our nation's future while the world debates climate action." "Our homes and infrastructure will not be washed away by the waves." Like Dominica, Nauru wants to shield its residents from the worsening effects of climate change by using the money raised from citizenship purchases. It serves as an example of the difficulties small countries encounter in obtaining funds to implement resilience-boosting projects. Although wealthy economies have grown According to a research released in November by the United Nations Environment Programme, the difference between the amount of adaptation funding that is needed and what is now available could amount to up to $359 billion annually, depending on the rate of loans and grants given to poor nations. At one point during last year's COP29 summit in Azerbaijan, negotiators for a group of small island states, including Nauru, abruptly left tense climate finance talks.
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The final agreement, which called for wealthy states to provide at least $300 billion annually in support for climate action, fell well short of the more than $1 trillion annually that had been sought. According to the Lowy Institute, a foreign organization, Nauru got $64 million in development funding between 2008 and 2022 with a primary focus on tackling climate change affairs think tank. According to Adeang, adaptation efforts "require substantial financial resources, which is an ongoing struggle," during last September's UN General Assembly in New York. We are far too frequently pushed to the back of the line when it comes to climate money.
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