Deputy Prime Minister and Finance Minister Professor Biman Prasad announced that the priority for Pacific Island Countries at the upcoming Conference of the Parties (COP 29) will center on global financing. During the ‘Resilience Week’ event, focused on managing climate and disaster risk, Prof. Prasad emphasized the importance of translating both national and regional needs into clear positions to influence international negotiations effectively.
He underscored that maintaining the increase in global average temperatures below 1.5 degrees Celsius is essential and non-negotiable. “The difference between 1.5 degrees and two or three degrees is a matter of survival,” he stated, identifying 1.5 degrees as their critical threshold. He warned that each fraction of a degree increase above this limit significantly raises the costs of adaptation, often rendering it infeasible.
Prof. Prasad highlighted this conference as a chance to enhance the conceptualization and implementation of a comprehensive climate and disaster risk management strategy. He stressed the necessity to outline actions that will mold the regional climate mobility framework.
Furthermore, he pointed out that Pacific Island Countries must not solely depend on the global financial system and international climate initiatives for solutions. Instead, he advocated for defining and innovating local solutions while shaping the international support they receive.
“The Pacific cannot afford to be disjointed or ineffective in our efforts. A coordinated approach gives us a better chance to succeed,” he concluded, emphasizing the importance of hosting workshops and sessions on these critical issues.