Page 24 - IB December 2023

Making Climate Finance Protecting people, growing

accessible resilience: Adaptation

Tonga Prime Minister, Hon. Hu’akavemeiliku, is our RMI Natural Resources and Environment Minister,
Pacific Political Climate Champion on Climate Finance. Hon. John Silk, is our Pacific Political Climate Champion
for Adaptation, keeping up the call for increased and
Climate Finance is currently burdened by lengthy processes
and burdensome criteria to render it challenging for Pacific additional climate financing for adaptation and resilience.
nations to access. Adaptation remains a critical issue for all as the worsening
climate inflicts higher costs upon communities and people
It must be simple, accessible, and grant-based and be grappling with the lived impacts of our changing climate.
enough to build the systems and resilience to empower and
benefit those on the climate frontlines. Supporting resilient and self-determined responses that
meet local needs to the global climate crisis is a key aspect
Pacific nations continue to call for the realisation of the
elusive 100 US Billion by 2020 which will become a US$100 of Adaptation work, which cannot be sidelined in the context
of Loss and Damage, and Mitigation priorities.
billion minimum amount by 2025, with periodic reviews.
Climate Funding should be mobilised through non-
traditional public financing sources, such as private and
corporate donors, philanthropy foundations, universal taxes,
and other funding streams, but needs to be a supplement to
existing multilateral financial institutions.

24 Islands Business, December 2023