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“Impact of Climate Change on Sustainable Development in Small Island States”

“Impact of Climate Change on Sustainable Development in Small Island States”. Theme: “ DFIs' Role in Sustainable Development amidst the Economic Crisis”. Plenary Session 1: The Economy and the DFI: Situationer & Outlook (Part II). PRESENTATION by Deve Toganivalu, Secretary, ADFIP

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“Impact of Climate Change on Sustainable Development in Small Island States”

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  1. “Impact of Climate Change on Sustainable Development in Small Island States” Theme: “DFIs' Role in Sustainable Development amidst the Economic Crisis” Plenary Session 1: The Economy and the DFI: Situationer & Outlook (Part II) PRESENTATION by Deve Toganivalu, Secretary, ADFIP CEO, Fiji Development Bank & 26 April, 2012.

  2. TRADING IN THE PACIFIC • Bech-de-mer • Pearl • Turtle shell • Coconut oil • Sandalwood • Whale blubber

  3. THE EARLY YEARS…

  4. THE LATER YEARS…

  5. ADFIP • Established in 1986 • 14 member countries • 22 DFIs

  6. PACIFIC SITUATION • Eligible industries • - Agriculture • - Forestry • - Marine products • - Mineral water • - Information, • Communications & • Technology • - Audio-visual • Anticipated slow global growth to impact Pacific economies in 2012 • Weakening tourism from source markets • Limited investment in manufacturing and processing sectors

  7. PACIFIC EXPORTS • $4.2billion in 2011 – up by $1.2billion from 2010 • Approx. 30% exported to Australia • Exports to NZ in 2011 was $82.7million – 64.3% of these was from Fiji • Service sectors for 60—70% of GDP

  8. SUSTAINABLE DEVELOPMENT “Sustainable development is the expansion of substantive freedoms of people today while making reasonable efforts to avoid seriously compromising those of future generations.” UNDP Sustainable Development Report 2011

  9. THREE CORE VALUES OF DEVELOPMENT • Sustenance: The ability to meet basic needs • Self-esteem: To be a person • Freedom from servitude: To be able to choose • Michael Todaro and Stephen Smith • (2011)

  10. WHAT DO FORUMS SUCH AS ADFIAP OFFER? • Opportunity to lobby for cheaper cost of funds • Alternative funding sources • Secure investors

  11. IMPACT OF CLIMATE CHANGE • El Nino & La Nina • Frequency of floods and cyclones • Rising sea levels • Sea acidity

  12. 2012 FIJI FLOODS • Damage estimated at 0.01% of GDP –US $ 30MM and rising • FDB agricultural clients – 55%

  13. IMPACTING PACIFIC LIVELIHOODS • At risk are: • - Food security • - Communities to displacement • - Economic survival

  14. CARBON EMISSONS • Collectively PICTs emit < 0.2% • Equivalent to emissions from Ireland, Oman or Denmark

  15. SUSTAINABLE ENERGY FINANCING • Convert up to 90% of all electricity generated from fossil fuel to renewable sources. • Fiji’s fuel importation bill -$720MM in 2009; expected to exceed $1.1 billion in 2012. • Product with FDB since May 2010.

  16. CONCLUSION “Those who consume far more resources than they require destroy the life chances of thosewhose survival dependsupon consuming more.” George Monbiot, author, columnist and environmental campaigner (2012)

  17. Thank You www.fdb.com.fj

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