Pacific countries on the frontline of climate change to get support to unlock climate financing for the future of the region

BOULDER, Colo., Sept. 15, 2023 /PRNewswire/ -- Vulnerable island nations in the Pacific are in urgent need of resources to respond to the worsening climate crisis. Building on the success of mobilizing USD $67 million in climate finance its first year of operation, the Climate Finance Access Network (CFAN) is partnering with the Pacific Community (SPC) and the Global Green Growth Institute (GGGI) to expand capabilities in financing where they are most needed.

CFAN provides localized technical support to developing nations to respond to a clear gap in meeting country-identified needs around climate finance access. The result is a network offering technical support to unlock and accelerate climate finance at scale through deploying embedded climate finance advisors at national and regional levels.

Launched in 2021 with the support of the Canadian Government, CFAN placed advisors in Fiji, Kiribati, Papua New Guinea, Samoa, the Solomon Islands, Tonga, Tuvalu, and Vanuatu who unlocked USD $67million in climate financing to support resilience, with an additional USD $348million investment pipeline.

A generous philanthropic donor has joined CFAN and allowed the network to further extend its reach in the Pacific by deploying three additional advisors in French Polynesia, the Cook Islands and the Federated States of Micronesia (FSM) along with embedding an advisor in the Pacific Community (SPC).

Advisors will begin their training in November, immediately following their placement in-country. SPC, the region's largest scientific and technical organization delivering development solutions in the region, owned and governed by 27 country and territory members, is well-positioned to serve its members through the dedicated support of CFAN's services.

Existing CFAN advisors will also be extended in their respective countries for an additional three years due to funding support by the Australian Government. The Global Green Growth Institute, CFAN's regional implementing partner for Fiji, Kiribati, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu, will continue to host and support these advisors.

More information on the work being done by CFAN advisors in the Pacific can be found at https://cfanadvisors.org/where-we-work/

Read the full release here: https://rmi.org/press-release/pacific-countries-on-the-frontline-of-climate-change-get-support-to-unlock-climate-financing-for-the-future-of-the-region/

Media contact: Denali Hussin, dhussin@rmi.org or Lisa Kingsberry, Pacific Community (SPC) lisak@spc.Int +6799252849 (whatsapp)

View original content:https://www.prnewswire.com/news-releases/pacific-countries-on-the-frontline-of-climate-change-to-get-support-to-unlock-climate-financing-for-the-future-of-the-region-301929259.html

SOURCE Climate Finance Access Network