NADI,17 OCTOBER 2017 (FIJI TIMES/DEPTFO NEWS)--- There is a challenge to develop insurance products for the Pacific region which are climate responsive but which are still profitable enough for the private sector to take ownership.
This was one of the strong messages which came out of a panel discussion on climate finance and risk management Monday at the PreCOP23 meetings in Nadi.
On the panel was the Minister for Economy and responsible for Climate Change, Aiyaz Sayed-Khaiyum, Howard Bamsey (CEO Green Climate Fund), Katerina Kimmorley (Clean Energy Finance Corporation) and Dipak Dasgupta a founding board member of the Green Climate Fund.
Sayed-Khaiyum told heads of delegations and civil society representatives listening at the panel discussion that there was need a get into more discussions about insurance.
“How do we develop these insurance products but on a sustainable basis so we can attract private sectors,” Sayed-Khaiyum said.
“We need to be able to get into a space where we have private sector involvement and our challenge is to be able to develop products that makes it attractive for the private sector."
Meanwhile, Fijian Prime Minister and Incoming COP23 President Voreqe Bainimarama Monday received a tapa scroll bearing a plea for action from climate change affected communities in Fiji.
These messages were delivered to the Fijian Head of Government during the Pre-COP23 meeting in Nadi on a Drua (traditional canoe) and will be taken to Bonn, Germany next month.
The traditional canoe - the Drua brought messages from the communities of Fiji on a scrolled tapa and was presented to Fiji’s High-Level Climate champion Inia Seruiratu, who then delivered it to the incoming President for COP23.
The ceremony of the arrival and the handover connected the people of Fiji to the important work being carried out for COP23, as well as introduced the visiting delegations to some of the Fijian cultural ceremonies.
In another development, incoming COP23 president and Fijian Prime Minister Voreqe Bainimarama today held bilateral discussions with Poland, Australia and Saudi Arabia.
The bilateral meetings were held within the perimeters of the Pre-COP23 meeting which is currently underway in Nadi.
The meeting allowed the countries to further reiterate their country's support towards Fiji's presidency at the 23rd COP summit in Bonn, Germany next month. ...PACNEWS
AUST - COAL INDUSTRY: AUSTRALIA INSTITUTE PACNEWS 3: Tue 17 Oct 2017