FIJI’s efforts to implement climate risk capital projects came a little late, says Finance Minister Esrom Immanuel.
Following a pre-COP31 Summit climate finance session in Nadi yesterday, Mr Immanuel acknowledged a new World Bank Group report that warned Fiji’s GDP could suffer a three to seven per cent setback without any climate risk mitigation initatives.
“Luckily, Fiji has already started and we have undergone a lot of reforms with the assistance of the World Bank Group, ADB and the other multi-laterals,” he said.
“But it is true that we should have done that probably 10 years ago. We are bit late but with assistance of the Ministry of Energy and Energy Fiji Ltd and Government we are putting in a lot more effort not only in terms of strategy but funding as well to strengthen our renewable energy efforts.”
Mr Immanuel said Fiji would also continue to call for more funding from global development banks in its climate adaptation initiatives.
“We will always need more because of the climate change risks that we face.
“We are always looking for financial support and grants to assist us with the work that we are trying to do.”
He added platforms such as the pre-COP31 Summit provided an opportunity for local and regional leaders to push for more funding.
“That is why we have platforms such as these for us to come together with our regional leaders and advocate for our communities and our people.”
