$10b needed for climate battle

May 13, 2022 5:40 am

[File Photo]

Fiji needs almost over $9.5 billion to address climate-change exposure in the next eight to 10 years.

In a recent Fiji Country Private Sector Diagnostic (CPSD) report, by IFC and the World Bank, it’s mentioned that Fiji is increasingly at risk given the large share of its population living in disaster-prone areas.

It adds this is also with the climate-sensitive locations of critical infrastructure and the economy’s dependence on agriculture and tourism.

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The report states that with the ambitious goal of achieving 100 percent power generation by renewable energy sources, there is also a need to plan strategically, and explore technology and innovation for integration of hydro and solar generation to meet increasing future demand.

For Fiji to order to incentivize private participation, the report states that various elements such as climate financing incentives, enabling regulation, and climate-related workforce skills will need to be developed.