Robert E.A. Borje, vice chairperson and executive director of the Climate Change Commission, stressed that existing financial architectures fail to treat water, food security, and coastal ecosystems as unified risks.
Borje noted that rigid accreditation processes and complex approval requirements often prevent local institutions in developing nations from accessing vital climate capital.
Echoing these concerns, Dr. Sivendra Michael, Fiji’s Permanent Secretary for Environment and Climate Change, highlighted that Pacific small island developing states steward roughly 28 million square kilometers of ocean yet struggle to secure funding at the necessary pace and scale.
Chao Feng, Australia’s Deputy Chief Negotiator for COP31, added that over 90 percent of coastal and island nations now incorporate ocean-based action into national climate targets, underscoring the urgent need for expanded investment in coastal restoration, offshore renewable energy, and sustainable fisheries.
Delegates concluded the forum by advocating for streamlined funding mechanisms that deliver direct financial support to vulnerable coastal communities and watersheds before catastrophic climate impacts occur.
