We use Cookies. Read our Terms
Making climate finance happen in the Pacific
OPEC Fund co-financed workshop advances preparations for investment-ready climate projects across the Pacific region.
The OPEC Fund is strengthening its climate finance engagement in the Pacific by supporting efforts to translate the region’s priorities into well-prepared, financeable projects.
The Climate Finance Access and Mobilisation Strategy Preparatory and Prioritisation Workshop, held in Nadi, Fiji, brought together senior officials from Pacific Islands Forum Member countries, regional organizations, development finance institutions, climate funds and other partners.
“The countries of the region have clearly articulated their climate priorities. The next step is to turn them into well-prepared, financeable projects with credible implementation arrangements and appropriate financing structures,” said Valerie Herzog, Senior Climate Change Specialist and Manager of the OPEC Fund’s Island Resilience Facility.
Convened by the Pacific Islands Forum Secretariat and co-financed by the OPEC Fund, the three-day workshop supported Pacific Island countries in developing a coordinated pipeline of national and regional climate investments.
Participants reviewed national needs, validated priority investment areas and considered how projects could be structured to meet the requirements of public and private financiers.
The OPEC Fund contributed experience in project preparation, co-financing and blended finance, emphasizing the importance of robust feasibility studies, clear implementation arrangements, appropriate risk allocation and financing structures suited to individual country contexts.
The workshop marked an important step in implementing the Climate Finance Access and Mobilisation Strategy, which was endorsed by Forum Economic Ministers in March 2025.
The strategy seeks to address persistent barriers to climate investment in the Pacific, including lengthy approval processes, fragmented financing channels, limited institutional capacity and increasingly complex financing requirements.
Discussions advanced a prioritized pipeline of climate investment concepts and a common roadmap for the inaugural Pacific Climate Finance Investment Forum in 2027.
The forum is expected to connect Pacific governments and project sponsors with multilateral development banks, climate funds, philanthropic organizations, private investors and development partners.
“The momentum generated must now be translated into action by further developing priority concepts into investment-ready projects, strengthening partnerships and actively pursuing available financing opportunities,” Ms. Herzog said.
