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In the face of climate change, Pacific Island nations are actively working to adapt.

But Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, says their efforts are being held back by a crucial missing piece: climate finance.

Professor Prasad highlights that the availability, speed, and scale of this funding will determine the region’s ability to build resilience.

He stresses that the Pacific has consistently advocated for climate finance that is pre-positioned, predictable, accessible, and on-scale, as the needs for mitigation, adaptation, and addressing climate-induced loss and damage continue to grow.

He adds that the window for adaptation is very short, possibly lasting only a decade.

While the establishment of the Loss and Damage Fund was a positive step, it still struggles to secure long-term financing.

Professor Prasad warns that climate risks are so severe and multifaceted that they could irreparably harm the Pacific’s economic, social, and political stability.

He suggests that a joint Australia-Pacific UN Climate Conference (COP31) could be a “circuit breaker” moment.

The Blue Pacific family supports Australia’s bid to host, seeing it as an opportunity for the world’s most powerful nations to finally listen to the most vulnerable communities.

For Pacific Islanders, hosting COP31 would provide a powerful platform to share their stories of displacement and resilience, directly making their case for the world to deliver on its duty.

Prasad concludes by emphasizing that the 1.5 degrees Celsius goal is the Pacific’s crucial “guardrail.”

He cites the International Court of Justice in stating that failing to achieve net-zero by 2050 would result in dire economic and health consequences for both the Blue Pacific and Australia.

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