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Speaker 1: Heather do for see.

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Speaker 2: Our climate change minister has announced that we're going to

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Speaker 2: be contributing ten million dollars to the UN's Fund for

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Speaker 2: Climate Loss and Damage. The fund was set up last

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Speaker 2: year in order to help poorer countries suffering the effects

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Speaker 2: of climate change. And Simon is the Climate change minister

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Speaker 2: who's at COP twenty nine in Azerbaijana with us.

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Speaker 3: Now, Hey, Simon, hey, hey, help ever, I'm very well.

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Speaker 3: Thank you.

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Speaker 2: Listen, this Loss and Damage Fund that we're putting the

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Speaker 2: ten million into, is this the same as the one

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Speaker 2: trillion dollar demand from the poorer countries or is this

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Speaker 2: completely separate demands.

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Speaker 1: No, it's completely separate.

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Speaker 4: It's a fund to support particularly developing countries that are

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Speaker 4: vulnerable to the effects of climate change, and it helps

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Speaker 4: with the economic loss and damage associated with adverse weather

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Speaker 4: events in those countries. It's run by the United Nations

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Speaker 4: and the funding comes out of our our overseas aid

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Speaker 4: budget through the Ministry of Foreign Affairs.

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Speaker 2: Yeah, okay, So how did you guys go in terms

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Speaker 2: of reaching some agreement on the one trillion dollar fund?

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Speaker 4: So those negotiations of underway. I've just come out of

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Speaker 4: another session sort of in negotiating rooms at the moment.

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Speaker 1: But courtiously optimistic. We've still got two.

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Speaker 4: And a half days to land at The Australians and

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Speaker 4: the Egyptians are co facilitating. But I had a session

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Speaker 4: last night with those and also the US, UK and

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Speaker 4: other countries just to discuss how that's progressing.

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Speaker 1: But it's going okay.

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Speaker 3: And how much are you going to put into that?

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Speaker 1: We haven't quantified the amount.

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Speaker 4: The focused by countries is what's the structure of the fund,

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Speaker 4: how it will actually deploy the money. Who contributes is

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Speaker 4: a big question because obviously we need still onto saying well,

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Speaker 4: if countries have the means to contribute, then they should,

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Speaker 4: and that's an item that's under dispute by some of

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Speaker 4: the big players out there.

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Speaker 1: And also you know, what do you count in terms

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Speaker 1: of that money?

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Speaker 4: There's obviously private funding as well as crown funding that

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Speaker 4: will come from countries.

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Speaker 2: If we need to get to one trillion, we're going

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Speaker 2: to have to put a lot and even as more

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Speaker 2: country like New Zealand, aren't we I look.

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Speaker 4: The reality is as the big players, the Japan's, the US,

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Speaker 4: the EUS, the UK's, they do the lion's share of

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Speaker 4: the funding. New Zealand does contribute, but you know, the

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Speaker 4: reality is our numbers are material and the context of that, Simon, are.

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Speaker 3: We being serious one trillion dollars? This is a serious discussion.

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Speaker 1: Yeah, it is a serious amount of funding required. The

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Speaker 1: amounts of.

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Speaker 2: Money you're going to sell that to the New Zealand

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Speaker 2: public who are currently unable to pay their mortgages. They've

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Speaker 2: just been told their power bills are going to go up.

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Speaker 2: We can barely afford anything in this country, and now

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Speaker 2: you're telling me that we have to give potentially like

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Speaker 2: hundreds of millions of dollars to developing countries to help

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Speaker 2: them out with climate change.

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Speaker 1: They either I didn't say, that's what you said.

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Speaker 3: Wonders about as I just assume that if we're contributing,

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Speaker 3: we would be.

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Speaker 4: We're not contributing the numbers that that and as I said,

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Speaker 4: we haven't agreed on what countries are contributing. They're looking,

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Speaker 4: how do you structure fund? How does that fund work?

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Speaker 4: How is it going to be deployed?

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Speaker 2: But the principle the saying, are we going to sell

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Speaker 2: this to people who feel like we're already broke.

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Speaker 4: Well, the reality is is that the countries around the

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Speaker 4: world are dealing with the impacts of climate change, and

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Speaker 4: New Zealand is alongside one hundred and ninety five other

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Speaker 4: countries acknowledging that there's a problem and we all need

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Speaker 4: to play our part. We're not going to be doing

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Speaker 4: a significant amount of funding into that model, but what

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Speaker 4: we do do is provide technical expertise through our officials,

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Speaker 4: which are rated as some of the best negotiators in

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Speaker 4: the world, to make sure that that structure is an

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Speaker 4: enduring structure and the big players like Japan and etc.

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Speaker 4: Are the ones to come up with the money. It

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Speaker 4: also includes private funding, so private sector capital, it's not

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Speaker 4: just government money as well.

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Speaker 3: Cool, Hey, listen, if Trump pulls out of the Paris Agreement,

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Speaker 3: do we.

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Speaker 1: No, we don't. And I had a good chat with

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Speaker 1: the US team last night.

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Speaker 4: They're providing a lot of technical support still irrespective for

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Speaker 4: change of administration, they're really supportive of New Zealand and.

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Speaker 3: Part of the Powis Agreement. Then what's the point, Well.

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Speaker 4: There's none of those agreements have been made. The reality

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Speaker 4: is there's one hundred and ninety five countries here.

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Speaker 1: They're not here. There's one hundred and ninety.

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Speaker 4: Four There is a consensus view across the globe, and

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Speaker 4: that's how these these things work.

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Speaker 2: All right, Hey, Simon, thanks really appreciate a best of

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Speaker 2: luck with that one trillion dollar fund.

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Speaker 3: That's Simon Watt's, the climate change Minister.

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