Investment

Fiji to spend $9.3 billion over the next 10 years on climate-friendly projects

A substantial study launched Bonn this week “put facts and numbers behind the climate experiences of the Fijian people”, according to the Attorney-General Aiyaz Sayed-Khaiyum.

Staff Writers

November 12, 2017 3:40 pm

Why it matters:  The Fiji Climate Vulnerability Assessment is the blueprint for Fiji’s billion-dollar investments in climate adaptation and resilience projects over the next ten years.  It was written by representatives from various Fijian government ministries, helped by a team from the World Bank, and other international agencies.

Summary of identified sectoral needs over the next 10 years to strengthen resilience of Fiji. (Source: Climate Vulnerability Assessment Report)
Summary of identified sectoral needs over the next 10 years to strengthen the resilience of Fiji. (Source: Climate Vulnerability Assessment Report).

Attorney-General Aiyaz Sayed-Khaiyum: “The CVA indicates that in Fiji alone, we are looking at average losses of more than FJD500 million annually due to floods and tropical cyclones, representing five percent of our GDP.”

The report makes four declarations, called “Messages”.

  • Message 1: “Fiji is already exposed to large natural risks, and climate change is likely to amplify these risks, threatening the development objectives of the country’s Development Plan.”
  • Message 2: “The government has made significant efforts to reduce climate and disaster risks, better prepare for natural disasters, and respond to major shocks.”
  • Message 3: “Interventions in five main areas can reduce further the country’s vulnerability, but they have significant financial implications, with investment needs estimated at F$9.3 billion over 10 years, plus additional maintenance and operation costs and social expenditures.”
  • Message 4: “Implementing these interventions will be extremely challenging and would be facilitated by improved decision making (especially regarding public asset maintenance), well-managed public finances, and support from the international community.”

“The Fiji Climate Vulnerability Assessment has been prepared to inform investment decisions for the future and to quantify and enhance our understanding of the threat that natural hazards and climate change pose to Fiji,” claimed the authors.

“It uses a new way to assess climate and disaster vulnerability for Fiji to help design climate change adaptation and risk management plans and strategies.”

Download the Summary or the Full Report.

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