COP29: Nauru unveils ‘groundbreaking’ citizenship by investment scheme for climate action

Nauru has launched a “groundbreaking” citizenship by investment scheme at the United Nations climate change summit COP29 in Baku, Azerbaijan.

The Micronesian island nation is the world’s smallest independent republic and the third-smallest country, with an estimated population of 11,000.

Its Minister for Climate Change and National Resilience, Asterio Appi, announced the ‘Nauru Economic and Climate Resilience Citizenship Programme’ while addressing COP29 delegates on Thursday.

“The innovative financing initiative [offers] an opportunity for conscientious investors to acquire an additional citizenship while contributing to climate adaptation and sustainable development projects in the Pacific region,” the Nauru government said in a statement.

It said that the international investment migration advisory firm Henley & Partners has been appointed to design, set up, and manage the program.