Deputy Prime Minister and Minister for Finance Professor Biman Prasad stated that the forthcoming Conference of the Parties (COP 29) will emphasize global financing for Pacific Island Countries. At the “Managing Climate and Disaster Risk for a Resilient Pacific” event, known as ‘Resilience Week’, he highlighted the necessity for the region to translate its national and regional needs into defined positions that will impact international negotiations.
Prof Prasad underscored the importance of maintaining the global average temperature rise below 1.5 degrees Celsius, asserting that this goal is non-negotiable. He emphasized that the distinction between 1.5 and higher temperature thresholds, such as two or three degrees, is critical for survival, labeling 1.5 degrees as a fundamental guardrail. He further explained that each incremental rise above 1.5 degrees dramatically escalates the costs and difficulties associated with adaptation, making it unfeasible in some situations.
The Deputy Prime Minister conveyed that this is a pivotal moment to enhance efforts in conceptualizing and executing an integrated approach to managing climate and disaster risks. He stressed the need to outline actionable steps that will contribute to the regional climate mobility framework.
Prof Prasad pointed out that Pacific Island Countries should not depend solely on global financial mechanisms and international climate change frameworks for solutions. He advocated for the development of innovative, homegrown solutions, urging the need to influence the international support received.
He concluded by stating that the Pacific cannot afford to be disorganized or ineffective in its endeavors. By employing coordinated strategies, the region stands a better chance of addressing these critical issues, which is why convening three interconnected workshops and sessions on these matters is essential.