CLIMATE finance in the Pacific is not keeping up with urgent needs, as complex systems, slow approvals, and financial risks still block access to vital funding.
Speaking at the Climate Talk: Navigating Climate Risks Talanoa Dialogue in Suva, Karlos Moresi, Climate Finance and Resilience Programme Adviser and Team Leader at the Pacific Islands Forum Secretariat, said that while climate funding is available globally, accessing it remains one of the biggest challenges for Pacific Island countries.
“Access remains a major issue,” Moresi said.
He highlighted that strict requirements, lengthy approval processes, and limited national capacity often delay the flow of funds.
“Global climate finance systems are not designed with Small Island Developing States in mind, creating barriers that prevent timely and effective support for vulnerable nations,” he added.
Moresi also stressed that Pacific countries were making efforts to mobilise their own resources, including through national budgets, but international systems must better align with these efforts to maximise impact.
“There is a need to simplify processes and create dedicated funding windows for Pacific countries,” he said.
Participants at the dialogue discussed the role of the Fiji Development Bank and the Green Climate Fund in addressing financial bottlenecks.
“As funders, usually the risk of foreign exchange is passed down to the community or local organisations in-country,” a representative noted.
He explained that minor currency fluctuations can add millions of dollars to project costs.
“For example, a project worth US$30–40 million could see an additional million-dollar cost from just a five to ten basis point movement in foreign exchange,” he said.
Moresi confirmed that the Pacific Islands Forum has been raising these concerns, including in discussions with the Green Climate Fund.
“We are trying to push for solutions that reduce currency-related risks and make funding more accessible to the countries that need it most,” he said.
He emphasised that climate finance is not just about funding projects, but also about building trust and ensuring international funds are channelled effectively through national systems.
“It is critical that resources reach communities where they are most needed to strengthen resilience and support preparedness,” Moresi said.
Moresi also spoke about the challenges of translating regional decisions into national action.
“The original leaders made decisions at the regional level, but implementation happens nationally,” he said.
“Sometimes, national priorities can close off access to regional directives. We need to ensure leaders’ decisions are translated effectively at the country level,” he added.
He highlighted the importance of engagement ahead of COP 31, the UN Climate Change Conference, noting the role of civil society organisations in shaping outcomes.
“If we don’t engage CSOs, we might miss opportunities to align national and regional priorities,” Moresi said.
He also acknowledged broader regional and global challenges, including geopolitical risks, and stressed that Pacific countries must work collectively to ensure climate finance reaches where it is most needed.
“The dialogue highlighted the need for urgent reforms,” Moresi said.
“Without these changes, Pacific countries will continue to face significant challenges in building resilience and responding effectively to the climate crisis.”