Fiji’s Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, highlighted the urgent need for action against climate change during a recent discussion with Omar Shehadeh, the UAE’s Special Envoy to the Pacific. Prof Prasad drew attention to the Pacific Islands’ significant vulnerability to climate-related disasters, noting that six of the world’s top 20 disaster-prone nations are located in the region.
Despite this alarming statistic, he pointed out that the Pacific receives only roughly US$220 million each year in climate finance. This amount is a mere fraction of the approximately US$2 billion deemed necessary to effectively implement climate adaptation strategies and transition to renewable energy sources.
Fiji is determined to uphold the commitments made at COP28, aiming for a 43 percent reduction in emissions by 2030 and reaching net zero by 2050. Professor Prasad expressed gratitude for the support provided by the UAE, particularly in relation to renewable energy initiatives and educational programs. He remains optimistic about continued collaboration to effectively address the pressing climate challenges facing Pacific nations.
This conversation underscores the critical need for increased climate financing, especially for vulnerable regions like the Pacific. With ongoing global discussions and partnerships, there is hope for more substantial investments in climate resilience and sustainable energy solutions.
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