The Deputy Prime Minister and Finance Minister, Professor Biman Prasad, emphasized that the primary focus for Pacific Island Countries at the upcoming Conference of the Parties (COP 29) will be on global financing. During the “Managing Climate and Disaster Risk for a Resilient Pacific – Resilience Week” event, Prof Prasad stated that it is essential for the region to translate its national and regional needs into clear positions that can effectively shape international negotiations.
He stressed the importance of maintaining the global average temperature rise below 1.5 degrees Celsius, asserting that this goal is non-negotiable. “The difference between 1.5 and two or three degrees is a matter of survival. This is our red line. 1.5 Celsius is our guardrail. For each micro degree temperature increase above 1.5, the cost of adaptation grows exponentially, and in many situations, adaptation could become unfeasible,” he remarked.
Prof Prasad remarked that this gathering presents an opportunity to advance a comprehensive approach to climate and disaster risk management. He highlighted the need to clearly define actions necessary for the successful implementation of the regional climate mobility framework.
The Deputy Prime Minister also pointed out that Pacific Island Countries cannot solely depend on global financing structures and international climate change regimes to offer solutions. He urged for the development of innovative, locally-driven solutions to effectively influence and direct international support.
“The Pacific cannot afford to be disorganized or ineffective in our initiatives. Only through collaborative efforts do we stand a chance. Much is at stake, hence the need to convene three interlinked workshops and sessions on these important issues,” he concluded.