Mobilising climate financing the next step — Prof Prasad - Voice of Asia

Fijian Minister for Finance Professor Biman Prasad stated that mobilizing climate finance for the Pacific region is a crucial next step for the area. He presented this viewpoint at the opening of the post-COP29 Political Climate Champions briefing in Nadi this week. Professor Prasad emphasized that climate change poses severe challenges to Pacific Island nations.

Professor Prasad pointed out, "I think the most important thing for the Pacific at the moment is to mobilize finance to deal with the rapidly changing weather patterns." He added, "These climate events are not only causing natural disasters but also inflicting huge economic losses on many Pacific nations." Pacific Island countries are facing increasingly severe climate challenges and urgently need support from the international community.

Professor Prasad stated that the region possesses a collective voice on the global stage, allowing them to share their experiences with one another. "We have been emphasizing internationally that many small island states, particularly those in the Pacific, are struggling to build infrastructure that meets adaptation needs." He further explained, "For example, in Fiji, we have identified a large number of seawalls that need to be built, and we have identified many communities that are being inundated by coastal erosion and saltwater intrusion that need to be relocated, and this is happening across our ocean islands."

Professor Prasad believes that this briefing is an ideal platform for regional leaders to discuss next steps before COP30. "This briefing has done a very good job of consolidating our issues so that when we go to the next COP, we will have very clear guidelines and advocacy programs in place to push the Pacific's needs in terms of funding." Through brainstorming, Pacific Island nations hope to secure more favorable outcomes in international climate negotiations.

This post-COP29 Political Climate Champions briefing was organized by the Pacific Islands Forum Secretariat. The meeting aims to summarize experiences, prepare for future climate action, and ensure that the voice of the Pacific region is fully valued on the international stage.