Commonwealth Pacific Climate Fund

Background

Small Island Developing States (SIDS) of the Pacific – individually experience significant challenges in gaining access to Climate related finance.

This is particularly true of funds from the private sector. Investors seek scale and stability in order to commit resources. They are also unaware of the investment opportunities available across the Pacific.

Further, in the Commonwealth context, there is huge disparity in the priorities, imperatives and scale of requirements between the larger and smaller states – the latter of which comprise 33 of the Commonwealth’s 56 country membership.

Vanuatu, a South Pacific nation, leads the international debate on Climate adaptation and mitigation and, together with the support of the Commonwealth, and other strategic partners, will establish a fund: The Commonwealth Pacific Climate Fund (CPCF) to address the challenge.

The fund will invest in commercially viable private sector investments across infrastructure, healthcare, utilities and telecommunications that meet the UN NDC’s as defined by the region; providing investors with the opportunity, scale and stability to invest they seek across the Pacific, whilst also meeting important climate change objectives.

The scale of the opportunity:

Vanuatu alone has $1.3 Billion of fully costed climate mitigation and adaptation projects contained in its Nationally Determined Contributions document presented to the UN. Many of these are suitable for private investment.
Rolled across the Pacific these opportunities are replicated at scale. There are 15 independent Pacific island nations, 11 of which are in the Commonwealth.
The scale of the investment opportunity across the region therefore far exceeds $10 Billion.
Investment is beginning to arrive, for instance the planned $60 Million airport upgrade project in Northern Vanuatu, albeit on a piece meal basis. The CPCF aims to better identify and coordinate the regional opportunities at scale.

OUR FOCUS AREAS

INFRASTRUCTURE

Infrastructure: ports, airports, roads and bridges providing connectivity between communities.

ENERGY

Utilities: renewable and alternative power such as geothermal and locally produced coconut biofuels to reduce the consumption and reliance on fossil fuels.

TELECOMMUNICATIONS

Enabling 4 and 5G mobile networks and high-speed internet connectivity across the region.

HEALTH

Climate Change is the single biggest health threat facing our communities. We will invest in Digital Health, Social Prescribing, Medical Infrastructure etc.