Acting Prime Minister and Minister for Finance, Hon. Biman Prasad, has issued a stark warning about the escalating impacts of climate change on the Pacific, emphasising the urgent need for global action on loss and damage.
In his recorded video message for the Climate Justice and Loss and Damage in the Pacific Conference at the University of Sydney, Professor Prasad called on developed nations to take greater responsibility for their contributions to global warming.
“The world is moving too slowly in recognising the scale of climate-induced loss and damage in the Pacific,” Hon. Prasad told an audience that included UN Special Rapporteur on the Right to Development, Professor Surya Deva.
“For too long, our reality has seemed distant to those outside the Pacific, but the time for delayed responses is over.”
Hon. Prasad painted a vivid picture of the crisis by drawing a comparison to Sydney homeowners.
“Imagine buying a house two decades ago for $750,000, now worth $2 million. But instead of appreciation, the value stays flat because it's in harm’s way from rising seas. Insurance jumps from $1,000 to $10,000 annually. Maintenance costs spiral from $3,000 to $30,000 a year. This may be Sydney’s future—but it is the Pacific’s present.”
He warned that the world is already failing to meet its commitments under the Paris Agreement.
“The 1.5-degree Celsius target is our guardrail. Breaching it means we lose the ability to adapt. Beyond that point, it is nothing but loss and damage,” he said.
Hon. Prasad also criticised countries that have backtracked on their commitments.
He directly addressed the United States, expressing disappointment over former President Donald Trump’s withdrawal from the Paris Agreement.
“Great countries take responsibility for their actions. The climate debt that the U.S. owes Pacific Islanders is held in trust. A withdrawal from Paris does not absolve them,” he asserted.
He also warned of a troubling trend where some nations are resisting their obligations.
“Growing discontent in many countries about taking responsibility for greenhouse gas emissions is worrisome. Climate justice is not just about resources—it is about political will.”
Highlighting the human rights implications, Prasad said climate change is not only an environmental crisis but a direct threat to Pacific identity and culture.
“When we relocate communities away from their homelands, we cannot relocate their fishing rights, their burial grounds, or their languages. These are priceless losses.”
He acknowledged progress in securing loss and damage financing at COP28 but stressed that current efforts remain inadequate.
“Much of our national debt is climate debt—debt taken on to rebuild roads and bridges washed away by extreme weather,” he said.
Professor Prasad called for a fundamental shift in how climate finance is allocated, arguing that too much aid is consumed by third-party intermediaries.
“Funding meant for communities experiencing loss and damage must go to those communities. Period.”
He also took aim at fossil fuel expansion, labelling it a fundamental human rights violation against Pacific Islanders.
“The ‘drill-baby-drill’ mantra is a call for industrial-scale breaches of our fundamental rights,” he said.
Looking ahead, Professor Prasad said Pacific nations will continue to push for accountability on climate finance and legal recognition of climate-induced harm through international courts.
“The Pacific has led the global push for an advisory opinion from the International Court of Justice. We must ensure that climate change is treated not just as an environmental issue, but as a human rights issue,” he said.
The conference, hosted by the Sydney Environment Institute, brought together policymakers, academics, and climate advocates to discuss the growing challenges faced by Pacific nations and explore pathways to achieving climate justice.