A declaration adopted by the Member States of the Alliance of Small Island States (AOSIS) on September 27, 2012, on the sidelines of the 67th United Nations General Assembly, calling for urgent action to address the climate change crisis which Small Island Developing States (SIDS) are already experiencing with impacts such as sea-level rise and storm surge, more frequent and extreme weather events, ocean acidification, coral bleaching, coastal erosion, and changing precipitation patterns.
Also taking into account the security implications of climate change, including violation of territorial integrity, more frequent and severe climate-related disasters, threats to water and food security, increased natural resource scarcity, and forced displacement, they reitarate their call to the international community, with developed countries taking the lead, to undertake urgent, ambitious and decisive action to significantly reduce emissions of all greenhouse gases and to support SIDS in their efforts to adapt to the adverse impacts of climate change, through:
(i) a risk management facility to promote risk assessment and risk management tools and strategies at all levels and to facilitate the implementation of risk reduction management measures;
(ii) an insurance facility to enable, administer and support risk sharing and risk-transfer schemes for damage incurred by climate related disasters; and
(iii) a “solidarity fund” to provide compensation for permanent loss and damage caused by slow onset impacts such as sea level rise, ocean acidification and temperature rise.