In a recent keynote address at the Second International Conference on “Key Issues in Climate Accounting,” Deputy Prime Minister and Minister of Finance, Professor Biman Prasad, emphasized the necessity of converting academic research into actionable strategies. Addressing an audience of scholars, policymakers, and industry experts at the FRCS Training Room, he articulated the critical role of merging research with policy to effectively tackle the climate-related challenges faced by Fiji and the broader Pacific region.
Professor Prasad highlighted the importance of a collaborative approach among the academic sector, financial institutions, and policymakers, stating, “The intersection between research, policy, and finance is key.” He pointed out that Japan’s commitments made during the recent COP 29 summit showcased Fiji’s significant contributions to global climate finance discussions, notably the establishment of a loss and damage fund aimed at assisting Small Island Developing States (SIDS).
Moreover, the Deputy Prime Minister acknowledged the hurdles in accessing climate finance for Pacific nations. “It’s about making sure that small island states like Fiji have the capacity to implement projects that will have a lasting impact,” he noted. He called upon all stakeholders to prioritize innovative solutions, emphasizing the role of climate accounting in effectively measuring and reporting progress toward climate objectives.
This call to action reflects a hopeful and proactive approach to addressing climate issues, highlighting the potential for positive change through collaboration and innovative thinking. By bridging the gap between research and real-world application, there is great potential for meaningful progress in dealing with the challenges posed by climate change.
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