Mobilising climate change funding in the Pacific islands region

A report to the Secretariat of the Pacific Regional Environment Program (SPREP):

This study examines whether the establishment of a regional fund would be a cost effective and efficient approach for Pacific Island countries to address adaptation to climate change. It also examines if the fund would help them better prepare for the consequences of climate-related events, such as managing the disaster risk of a particular country, weather risk management solutions, and helping a government insure against natural disaster risk. It aims at reducing the administrative burden and other constraints Pacific island countries are experiencing with accessing and utilizing climate change financial assistance, provided through both Official Development Assistance (ODAS) and multilateral agreements.

The analysis is intended to be used as a tool to assist the region to move forward with developing the best framework and mechanisms that will assist in coordinating financial flows that may be earmarked for climate change adaptation and mitigation, as they are projected to dramatically increase in the region. It builds and reflects upon key findings and information already compiled under the initial assessment for feasibility of a regional climate change adaptation facility or fund, carried out in 2003, along with responses from a wide range of stakeholders who made contributions during the assessment.