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A new report from Caritas Oceania, Caritas Australia and Jubilee Australia Research Centre, has revealed the total annual finance needs for Pacific nations facing climate mitigation, adaptation and loss and damage costs could conservatively sit at around USD$1.5bn. Meanwhile, estimates of climate financing delivered annually between 2015 and 2020 sit at $0.2-0.6bn, pointing to an annual financing gap in the region of $1bn. The estimates appear in Weathering the Storm which examines tensions between debt and climate challenges in the Pacific, coinciding with COP29 which is currently underway in Baku, Azerbaijan. Read the complete article here Source: CARITAS  Comments are closed.
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