Deputy Prime Minister and Minister for Finance 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 his address at the “Managing Climate and Disaster Risk for a Resilient Pacific” event, known as ‘Resilience Week,’ he underscored the importance of aligning national and regional needs into clear positions that can effectively influence international negotiations.
Prof Prasad reiterated the necessity of limiting the global average temperature rise to below 1.5 degrees Celsius, stating that this commitment is non-negotiable. He highlighted the drastic consequences of exceeding this threshold, noting that the difference between 1.5 and higher temperature increases could jeopardize survival. He described 1.5 degrees Celsius as a crucial boundary, stressing that even slight temperature increases result in exponentially rising adaptation costs, often rendering adaptation impossible.
He identified this moment as an opportunity to enhance the conceptualization and implementation of a comprehensive climate and disaster risk management strategy, emphasizing the need to establish actions that effectively support the regional climate mobility framework.
The Deputy Prime Minister further pointed out that Pacific Island Countries cannot depend solely on global financing structures and international climate policies for solutions. He called for innovative, locally generated solutions to better influence and direct the international support they receive.
Prof Prasad concluded by asserting the importance of coherence and efficiency in the efforts of the Pacific region, stating that collaborative approaches are essential for making significant progress. He highlighted the importance of convening interlinked workshops and sessions to address these vital issues.