Pacific Trust on Climate Change to be established
November 4, 2015 4:55 pm
A regional trust is expected to be established which will enable member countries of the Pacific Islands forum to access disaster and climate risk funding support.
Agreed too last week at the Forum Economic Ministers meeting, the trust would be an independent legal entity that would emanate from the Pacific Catastrophe Risk Insurance Pilot Facility.
Ministers called on development partners to provide the necessary funding to allow for the establishment of the trust, in particular Germany and the other G7 countries to provide financial support under the G7 climate risk insurance initiative.
The Pacific Islands Forum Economic Ministers meeting was held in the Cook Islands last week.