Bina Harbour at COP28 Aiming for Global Climate Funding and Collaboration

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THE Bina Harbour Development Project and other Solomon Islands initiatives are heading to COP28 in Dubai to partake in the annual gathering of all nations that have signed the United Nations Framework Convention on Climate Change (UNFCCC).

A Solomon Island cross Ministry delegation, including representation from the Ministry of Fisheries and Marine Resources (MFMR) for the Bina Harbour Tuna Processing Plant Project have arrived in the UAE to participate in a panel discussion at a side event under the Blue Pavilion on December 8. The event will provide a platform to emphasise the essential role of climate funding for Solomon Islands projects and the need for global support in combatting climate change through sustainable and inclusive infrastructure solutions.

As a country bearing the brunt of the devastating consequences of rising sea levels and extreme weather events, the Solomon Island Government (SIG) and its lead ministry MFMR will address the pressing need for adaptation funding to combat climate change in vulnerable regions with indigenous communities such as Bina Harbour in Malaita. The panel will also include representatives from the Ministry of Mines, Energy and Rural Electrification (MMERE) the Ministry of Environment, Climate Change, Disaster Management and Meteorology (MECDM) and the Ministry of Finance and Treasury (MoFT) to give their unique perspectives on the challenges facing the Pacific nation and the need for climate finance to be mobilised for Bina Harbour project.

Deputy Secretary Technical for MFMR James Teri said, “We are excited to be a part of the COP28 side event and this panel discussion will give us an opportunity to share how climate funding plays a critical role in supporting vulnerable countries with projects like Bina Harbour. We need help so we can adapt to and mitigate the impacts of climate change while at the same time, advancing our social and economic development needs.”

“Rising sea levels due to climate change recognises no borders making it crucial for all nations to unite in addressing this shared existential threat,” Mr Teri goes on to say. “We are pleased to see at this COP participating wealthy countries have pledged a combined total of just over US $700m to the loss and damage fund, highlighting that everyone needs to share the responsibility as stewards of our planet.”

The side event will also highlight the previous success of the Public Private Partnership Financing arrangement from the Tina River Hydropower Development Project as an example of how a well-established structure can mobilise international financing for a developing country for opportunities like Bina Harbour.

With the Solomon Islands now well positioned to be promoted on a global scale as a critical destination for climate finance, the team at COP28 will highlight the country’s efforts, achievements, and pipeline projects. As a small island developing state (SIDS) it is critical that Solomon Islands advance climate positive developments while also meeting the Sustainable Development Goals (SDGs) established by the United Nations in 2015 as part of the 2030 Agenda for Sustainable Development.

SOURECE: Bina Harbour Development Project Office Press Release

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