Pacific nations' experiences with climate change financing

Access to climate change finance remains critical for vulnerable Pacific island countries. At the 2012 Forum Economic Ministers’ Meeting (FEMM) held last week in Tarawa, Kiribati, Ministers received an update on climate change financing efforts being coordinated by the Pacific Islands Forum Secretariat and other stakeholders. The Secretariat published a report titled “Pacific experiences with modalities relevant for Climate Change Financing” to coincide with the FEMM. This report highlights how national and regional climate change financing options could work for countries in practice, taking into account their experiences and varying needs. The report supports the Pacific Islands Forum Leaders’ decisions and the 2012 Forum Economic Action Plan that emphasises the need to secure appropriate climate financing opportunities for the region. “Our efforts around climate change financing, in collaboration with our member countries and regional partners, are founded on the appreciation of the unique capacity constraints facing Forum Island Countries,” said the Secretary General of the Forum Secretariat, Tuiloma Neroni Slade. The report includes climate change financing observations from Samoa’s experience with Budget Support, Tuvalu’s National Trust Fund experience, Micronesia’s Sub-Regional Fund experience, Palau’s National Development Bank experience, Cook Islands’ experience with its intention to apply to the Adaptation Fund for National Implementing Entity accreditation, SPREP’s experience with its application to the Adaptation Fund for Regional Implementing Entity accreditation, and Solomon Islands’ experience with accessing the Adaptation Fund through a Multilateral Implementing Entity. “We are also mindful of the evolving nature of global climate change funding and its links to Overseas Development Assistance. We therefore anticipate that this report will be updated periodically to be truly reflective of the ongoing experiences of the region.” Tuiloma Neroni Slade said. The Secretary General added that the studies served to complement other initiatives underway across the region, such as the development of a comprehensive assessment to assist countries in identifying the optimal mix of climate change financing modalities; exploring the design of a regional climate fund; development of a Regional Technical Support Mechanism; contributing to a UNDP-managed online community of practice on topics related to climate change financing and development effectiveness (the Pacific Solutions Exchange); and assisting countries to effectively access and manage international climate change funding. Pacific Islands Forum Leaders have continuously highlighted the threat posed to Member countries by climate change. Leaders have stressed the critical and urgent need for improved access to, and management of, climate change resources to effectively respond to climate change. (Ends) For further information please contact the Forum Secretariat's Communications Officer, Mue Bentley Fisher, via mueb@forumsec.org.fj.