Deputy Prime Minister and Finance Minister Professor Biman Prasad stated that the primary focus for Pacific Island Countries at the upcoming Conference of the Parties (COP 29) will revolve around global financing. During his speech at the “Managing Climate and Disaster Risk for a Resilient Pacific – Resilience Week,” he emphasized the importance of translating national and regional needs into clear positions that can effectively affect international negotiations.
Professor Prasad asserted that efforts must remain dedicated to limiting the rise in global average temperatures to below 1.5 degrees Celsius, describing this goal as foundational and non-negotiable. He highlighted the critical distinction between a 1.5-degree rise and higher increases, indicating that even a slight temperature rise could exponentially escalate adaptation costs and make adaptation increasingly unfeasible.
He called for a comprehensive strategy to better conceptualize and execute climate and disaster risk management, stressing the necessity of defining actions to support the regional climate mobility framework. The Deputy Prime Minister pointed out that Pacific Island Countries cannot solely depend on global financing mechanisms and the international climate regime for solutions.
Professor Prasad emphasized the need for innovative, homegrown solutions and the importance of shaping the international support received. He concluded by stating that the Pacific cannot afford to be fragmented or inefficient in its efforts, advocating for coordinated approaches to enhance their chances of success, particularly through the convening of related workshops and discussions on these vital issues.