23 July 2010: The Secretariat of the Pacific Regional Environment Programme (SPREP) has launched a regional study on climate change financing with a view to establishing a regional climate change fund or similar mechanism to help Pacific island countries improve access to, and management of, financial resources committed globally to combat climate change.

The study responds to recommendations formulated at the Pacific Climate Change Roundtable held in the Marshall Islands in 2009, where concern was expressed about the Pacific region’s challenges in accessing available funding, effectively managing and implementing projects under current funding arrangements, and ensuring timely reporting to donors.

The study is expected to assess resources currently available to Pacific island countries for climate change initiatives, and identify likely new funding, in order to guide future national and regional responses and policies, including coordination arrangements. The results of the study will be presented to the SPREP Ministerial Meeting scheduled to take place in Madang, Papua New Guinea, in September 2010. [SPREP Press Release]