By 2050, Fiji’s annual losses due to extreme weather events could reach 6.5 percent of GDP because of the impact of climate change, with more than 32,000 people pushed into hardship every year, according to a significant new climate vulnerability study launched today at COP23 in Bonn, Germany.
The Green Climate Fund (GCF) is providing a $12 million grant as additional financing to the ongoing Cook Islands Renewable Energy Sector Project, which will help the country transition to a renewable energy future.
The partnership will explore efficiency gains and more renewable sources in district energy – a system that heats or cools multiple buildings through underground pipes – and integrated planning.
"We all agree that Small Island Developing States (SIDS) are on the frontline of sea-level rise and the consequences of a warming climate. Climate change adaptation is an existential issue for many of these countries and critical to the achievement of resilient development. "
The Asian Development Bank (ADB) and Pakistan today signed a $335 million loan to help develop a Bus Rapid Transport (BRT) system in Peshawar, the capital city of Khyber Pakhtunkhwa province.