Antalya:Pacific island nations are aiming to secure $500 million for a regional resilience fund intended to aid communities at risk from rising sea levels and extreme weather, as announced by a senior Pacific climate envoy at the UN climate conference COP31.

According to Anadolu Agency – English, Ruel Yamuna, the COP31 Pacific Envoy for Climate Finance Access and Papua New Guinea's Special Envoy for Climate and Environment, emphasized the importance of capitalizing the Pacific Resilience Facility (PRF) as a top priority at the summit. Yamuna noted that while the $500 million target for the PRF would not fulfill the region's total climate financing needs, it represents a crucial starting point for supporting locally led projects and initiatives.

Yamuna highlighted the significant challenges Pacific island nations face in accessing climate financing, despite their vulnerability to global warming impacts. Many small island governments lack the technical capacity to prepare funding applications that meet international standards, often relying on international organizations like the UN Development Programme and the World Bank for assistance.

The envoy called for reforms to streamline funding processes to ensure climate finance reaches vulnerable communities more swiftly. He warned of the severe consequences of delayed financing, as Pacific communities are already experiencing climate change effects such as rising sea levels and extreme weather patterns.

In addition to the resilience fund, Pacific nations are working on an Access to Finance Statement and Action Plan, aiming to overcome barriers that prevent vulnerable countries from accessing climate funding. Yamuna expressed optimism about the ongoing discussions and the anticipated formal signing of the initiative later this week.

He also welcomed the cooperation between Türkiye, Australia, and Pacific island nations under the COP31 framework, which he sees as an opportunity to bring attention to the region's climate challenges. Yamuna expressed gratitude to Turkish and Australian ministers for their support and hoped the summit would result in concrete reforms to benefit vulnerable island communities.