Deputy Prime Minister and Finance Minister Professor Biman Prasad has highlighted the urgent need for action against climate change in a recent meeting with Omar Shehadeh, the UAE Special Envoy to the Pacific. Professor Prasad pointed out the significant vulnerability of the Pacific islands, which are home to six of the top 20 countries most at risk from disasters globally.
He noted that while the region requires approximately US$2 billion annually to effectively manage climate adaptation and transition to renewable energy, it currently receives only about US$220 million each year in climate finance. This stark funding gap underscores the urgent need for increased financial support for climate initiatives in the Pacific.
The Deputy Prime Minister reaffirmed Fiji’s commitment to the goals set at COP28, which include reducing emissions by 43 percent by 2030 and striving for net-zero emissions by 2050. He also expressed appreciation for the UAE’s support in renewable energy projects and educational initiatives in Fiji, and he is optimistic about the ongoing collaboration to meet the pressing climate challenges facing the region.
This dialogue reflects the growing recognition of the Pacific’s vulnerabilities and the critical need for enhanced global support. Continued cooperation between nations can pave the way for innovative solutions and funding strategies for climate resilience, ultimately benefiting both the Pacific islands and global efforts against climate change.
In summary, this meeting highlights the urgent call for increased climate financing and collaboration as countries like Fiji work towards ambitious sustainability goals, with the hope that united efforts can lead to effective action against the impacts of climate change.
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