Pacific Climate Finance: A Need for Change
Pacific nations are seeking to shift the conversation on climate finance beyond mere access to investment, aiming for lasting resilience for their people and communities.
The challenge of Pacific governments accessing adequate climate finance has been a topic of discussion for over a decade, with numerous reports, analyses, and regional strategies addressing the issue.
However, focusing solely on 'access' may overlook the deeper systemic barriers hindering the Pacific's ability to achieve climate-resilient development.
The 2024 United Nations Climate Change Conference, COP29, emphasized finance, with Pacific nations and other Small Island Developing States pushing for a new financing goal.
Despite strong evidence on the magnitude of investment needed, the global New Collective Quantified Goal (NCQG) still fell short.
Author's summary: Pacific nations seek a shift in climate finance conversation.
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