Countries around the world are grappling with how to pay for the cost of shifting toward low-carbon and climate resilient economies. This is particularly true in developing countries that are highly vulnerable to climate change, including small island developing states. Here the impacts of the changing climate – from sea level rise to more intense weather patterns – pose serious financial threats. Governments must find resources to pay for both enhancing resilience and recovering from climate-induced losses and damage. This is a large task for any country, but particularly for a Pacific SID with limited financial resources.
While the challenges are great, governments are not without solutions. A variety of methods exist for accessing funds and shifting existing budgets toward climate compatibility. This webinar will explore how Fiji, a small island developing state facing significant climate risks, is tackling the task of raising funding to pay for climate resilience and low-carbon development in the country. It will provide an overview of several initiatives Fiji has undertaken, including a recently launched national strategy on climate finance, an incubator for raising climate funds, and climate resilience tax.
Moderator:Gaia Larsen, Director of Climate Finance Access, WRI
Introductory remarks: Kushaal Raj, Head of Climate Change and International Cooperation Division, Ministry of Economy, Government of Fiji
Overview of Fiji’s Approach to Climate Finance: Prelish Lal, Climate Finance Specialist, Ministry of Economy, Government of Fiji
Fiji’s National Climate Finance Strategy & Advisory Support:Caitlin Smith, Associate, Sustainable Finance Center, World Resources Institute
The Drua Incubator & Climate Change Act: Daniel Lund, Special Advisor on Climate Change, Government of Fiji
Climate Finance and the Multilateral Process:Prashant Chandra, Manager – Climate Change Division, Government of Fiji