At the 53rd Pacific Islands Forum (PIF), Pacific Leaders led a masterclass with philanthropic and public partners on Unlocking Blue Pacific Prosperity (UBPP), showcasing an innovative investment pathway to rapidly mobilise large-scale development and climate financing in the region.
Honourable Hu'akavameiliku, Prime Minister of Tonga and Chair of the Pacific Islands Forum, said, "We, the people of the Blue Pacific Continent, are managing a climate emergency that we did not cause. But we have the power to make a real difference through transformational partnerships. As the Pacific is on the front line of climate change, the situation for Small Islands States is urgent.”
The UBPP initiative was launched at the 28th session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change Conference (UNFCCC) in Dubai, United Arab Emirates, by the Prime Minister of Tonga and President of Palau to address the slow, administratively burdensome, and insufficient financing for urgent development and climate action in the region.
Now spearheaded by Pacific Leaders, the UBPP initiative, which has already secured US$100 million in seed funding from the Bezos Earth Fund, aims to raise US$500 million by 2030. This large-scale funding effort brings together Pacific Island governments, regional organisations, civil society, philanthropic entities, and traditional development partners in a unique multi-sector collaboration.
UBPP sets ambitious goals, aiming to enact 100% ocean conservation and management in the Blue Pacific Continent, protect 30% of areas critical to biodiversity and ecosystem services, achieve robust food systems and develop resilient ecosystems. These objectives align with the region's broader sustainable development priorities and the 2050 Strategy.
“Our people know what it takes to protect and sustainably manage our Pacific Ocean for generations to come. To do this, we are selecting partners who care about climate change action and getting results as much as we do.” The President of Palau, Surangel Whipps, Jr. explained that this requires cohesive and strategic partnerships with different actors, each playing to their strengths. “Thanks to the US$100 million in seed funding from our anchor investor, the Bezos Earth Fund, Unlocking Blue Pacific Prosperity is a game changer for high-impact investment. If we achieve transformational results in the Pacific, we’re making a positive impact on one-third of the planet.”
In showing support for the UBPP initiative, USAID’s Assistant Administrator Michael Schiffer said, “Pacific Leaders have set a clear direction for the region through the 2050 Strategy. The US, as a member of and partner to the region, supports UBPP and other Pacific-led mechanisms as a way to drive new and effective ways of working together to achieve regional sustainable development priorities.”
Demonstrating the momentum of UBPP and growing investor interest in the Pacific, Managing Director of the Great Barrier Reef Foundation, Anna Marsden, announced AU$15 million for a new program designed to accelerate and scale local action to protect coral reefs. The Foundation launched the second phase of its Resilient Reefs Initiative in partnership with the Secretariat of the Pacific Regional Environment Programme (SPREP), aligned with the goals of UBPP and the 2030 Pacific Coral Reef Action Plan. The Resilient Reefs Initiative is funded by the BHP Foundation.
“The Great Barrier Reef Foundation is committed to creating a better future for coral reefs and the communities that depend on them. We’re proud to partner in the Pacific and share learnings from our work on the Great Barrier Reef and at UNESCO World Heritage reef sites in the Pacific. Unlocking Blue Pacific Prosperity presents an opportunity to bring together partners and investments towards funding goals that contribute to tackling the Pacific’s biggest challenges in climate change, effective ocean management and sustainable food systems.”
The Unlocking Blue Pacific Prosperity – Transforming Partnerships by Design side event at the 53RD PIF featured the following speakers: His Excellency, Surangel Whipps Jr, President of Palau; Honourable Paulson Panapa, Foreign Minister of Tuvalu; USAID Assistant Administrator Michael Schiffer; Professor Jim Leape, Bezos Earth Fund; Anna Marsden, Managing Director, Great Barrier Reef Foundation; Dr Stuart Minchin, Director General, SPC; Karena Lyons, Director of Partnerships, Integration, & Resource Mobilisation, SPC; Sefanaia Nawadra, Director General, SPREP.
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