Tabuya: Pacific will hold COP31 to US$1.5b

The Pacific will hold COP31 host Türkiye to a US$1.5 billion (FJ$3.4 billion) funding target to protect island homes from rising seas.

Minister for Environment and Climate Change Lynda Tabuya said this at the Pre-COP31 press conference in Nadi yesterday, after COP31 president Murat Kurum said US$1.5 billion “for 1.5 degrees will save the Pacific”.

“I was especially encouraged by what Murat mentioned, $1.5 billion for 1.5. We will hold COP31 to that,” Ms Tabuya said.

In simple terms, the money is meant to help Pacific communities cope with rising seas and stronger storms.

Global warming

The “1.5” also refers to the 1.5°C limit on global warming.

The target matches the long-term goal of the Pacific Resilience Facility, a Pacific-owned fund that provides grants, not loans.

Countries do not take on more debt, and the money goes towards seawalls, clean water and protecting homes before storms hit.

Pacific Islands Forum Secretary-General Baron Waqa said pledges so far total US$180 million (FJ$405.23 million), against a target of US$500 million (FJ$1.25 billion) by the end of 2026.

New pledges announced at Pre-COP include US$13 million (FJ$29.27 million) from the United Kingdom and US$1.12 million (FJ$2.52 million) from the Netherlands. Ireland doubled its earlier commitment.

Negotiation

Australian Climate Change and Energy Minister Chris Bowen, who leads COP31 negotiations, said delivering the funding would not be easy.

“That’s our job. But it won’t be easy,” he said.

Kurum said money must reach those in need quickly, “not through a lot of red tape”. He said the highest point on Tuvalu is just 1.5 metres.

The next test comes at COP31 in Antalya, Türkiye, from November 9 to 20.