PM calls on developed countries to deliver on the US$100 billion finance facility

Prime Minister, Voreqe Bainimarama says we are at the end of 2021 yet the US$100 billion finance facility which was expected by 2020 has not been delivered.

Bainimarama says this is unacceptable and developed countries must deliver.

While speaking at the Pacific Islands Forum Secretariat, Pacific High-Level event at COP26 in Glasgow, Bainimarama says the total economic cost of disasters in the Pacific was around US$1 billion last year.

Bainimarama who is also the Chair of the Pacific Islands Forum says collectively they must also establish a new climate finance goal for post 2025 with a better balance between adaptation, mitigation and dedicated finance for loss and damage.

He says Pacific island countries are the lowest emitting nations on earth yet they are not hiding behind the excuse that they are too small to make a meaningful difference or using COVID-19 as cover for not taking meaningful action to honour their climate obligations.