Pacific Islands Push for New Climate Fund Ahead of COP31 in Australia

Pacific island nations are rallying support for a new regional fund ahead of the upcoming UN Climate Change Conference COP31, aiming to address pressing climate challenges and secure financing for renewable energy, community resilience, and ocean protection. Leaders from the 18-member Pacific Islands Forum (PIF), which includes Australia and New Zealand, are set to make a formal appeal for global contributions to the Pacific Resilience Facility (PRF) during a high-level meeting in Palau this week. The initiative seeks to provide a new model for climate financing that prioritizes swift and direct funding for local projects.

The PRF, launched in May, is designed to channel investments quickly to grassroots efforts in Pacific communities. Fiji’s assistant minister for foreign affairs, Lenora Qereqeretabua, emphasized its community-centered approach, stating that the fund aims to simplify access to climate financing for local projects. “We are expecting pledges for the PRF, and these funds will go to communities that apply,” she said. “We have organized it in such a way that makes our application processes much easier than applying for global funding.” The PRF has so far secured approximately $172 million in capital, with Australia contributing about $67 million, and aims to reach $500 million by the end of the year.

The Pacific Islands Forum meeting in Palau comes at a critical time, as the region faces an “ocean crisis” marked by record-breaking ocean heat linked to this year’s super El Niño. Kevin Chand, Pacific ocean policy director at National Geographic’s Pristine Seas conservation project, warned that rising ocean temperatures threaten food security and economic stability in the region, as key fish stocks like tuna migrate away from Pacific coastlines. Leaders at the forum are expected to announce new marine protected areas and commitments toward the global goal of protecting 30% of the planet’s land and sea ecosystems by 2030, which will be highlighted at COP31.

Economic pressures are further straining Pacific nations, with some spending up to a quarter of their GDP on fossil fuel imports due to global energy market disruptions. A recent report by the University of New South Wales (UNSW) highlighted the need for partner countries to support the Pacific’s energy transition by covering the upfront costs of shifting from diesel to renewable energy sources. Wesley Morgan, one of the report’s authors, stressed that donor nations must “put their money where their mouth is” to facilitate this transition.

Climate activists are urging the PIF to advocate for the phase-out of fossil fuel extraction and consumption, noting that last year’s COP30 failed to deliver a clear roadmap for global fossil fuel transition. A coalition of countries, including several Pacific island nations, held their own fossil fuel phase-out summit in Colombia, and this issue is expected to remain a priority at COP31, co-led by Australia and Türkiye.

The PRF’s streamlined funding model has been met with cautious optimism, but experts emphasize the need for strong political and financial backing to ensure its success. Sindra Sharma, international policy lead at the Pacific Islands Climate Action Network (PICAN), noted that the fund’s intentions are solid but warned that bureaucratic hurdles could undermine its effectiveness. “The proof is going to be when the fund actually starts operating and delivering to communities,” she said.

As the Pacific prepares for COP31, regional leaders aim to demonstrate the urgency of their climate challenges and advocate for stronger global action, including limiting global warming to 1.5°C. A pre-COP gathering in Fiji will set the stage for these discussions, with world leaders, including potential visits to Tuvalu to witness the impacts of rising sea levels, expected to participate.

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