Cost of climate-related disasters cannot be shouldered by the South Pacific alone–PM

The cost of adapting our nations to withstand the increased frequency and intensity of climate-related disasters is immersed and cannot be shouldered by the South Pacific alone.

This was highlighted by the Prime Minister Voreqe Bainimarama while addressing the IMF High Level Dialogue on Building Resilience to Natural Disasters and Climate Change.

Bainimarama says tough decisions need to be made, and we have begun works now thus we need to stay disciplined about how we plan our national development to adapt to our changing climate.

He says even if we limit global temperature rises to the ambitious target of 1.5 degrees Celsius above pre-industrial levels we will still endure stronger and more frequent storms, prolonged droughts, unprecedented sea rises and threats to our food security due to the effects of changing weather patterns on our agriculture.

Bainimarama says while our adherence to the Paris Agreement will reduce the effects of climate change, its implementation alone will not undo all the damage that has already been done to our planet. He says we must create new financial models to attract private sector and financial institution participation in adaptation measures.

He says the clock is ticking, and the more urgency we give this discussion, the more countries and lives we save.

The High Level Dialogue Forum was attended by the Attorney General Aiyaz Sayed-Khaiyum, Ministers for Finance from 15 Pacific countries, Representatives from the IMF, the Asian Development Bank and World Bank, members of the Diplomatic Corp and the private sector.