Solomon Islands Prime Minister Jeremiah Manele, serving as the Chair of the Pacific Islands Forum, recently inaugurated the Pacific Resilience Facility (PRF) Capitalisation Memorandum at the United Nations Headquarters during the 80th UN General Assembly in New York. This initiative marks a significant advancement in the Pacific region’s efforts to bolster climate resilience.
The PRF is specifically designed to facilitate access to vital climate finance for countries like the Solomon Islands and other small island states, addressing the acute climate challenges faced by the Pacific region. It aims to enhance community resilience to climate change, emphasizing the pressing nature of these environmental threats. Prime Minister Manele highlighted the PRF as a symbol of Pacific peoples’ resilience and unity, aimed at reducing vulnerability in the region.
Already, 15 Forum countries, including the Solomon Islands, have endorsed the PRF agreement during the Pacific Islands Forum Leaders Meeting held in Honiara. The facility seeks to raise US$500 million over the next 15 months, positioning itself as a transformative force in bridging the gap in climate finance accessibility for Pacific communities.
Prime Minister Manele noted that a robustly capitalized PRF will not only benefit Pacific nations but also advocate for global changes to promote fairer access to climate resources for small island states. The launch of the PRF Capitalisation Memorandum has officially opened the pledging window, which extends from September 2025 to December 2026.
The inception of the PRF, conceptualized as the first Pacific-owned and led financial institution focused on climate and disaster resilience, is poised to manage over US$1.5 billion in assets in the future, underscoring the region’s push towards self-reliance. This initiative reflects a strategic effort to streamline access to resources, bypassing the complexities and inefficiencies often associated with global climate financing mechanisms.
The PRF has already secured international financial commitments, including substantial pledges from countries such as Japan, the United States, and Australia, showcasing strong international support. The collective goal is to secure US$341 million by the end of 2026, paving the way for ambitious fundraising targets set for future COP discussions.
Overall, the PRF represents a pivotal move towards ensuring that Pacific nations have the necessary financial and strategic support to mitigate climate change effects. The facility’s emphasis on unity and collaboration among Pacific nations, combined with the strong backing of global partners, positions it as a beacon of hope and progress in regional climate resilience efforts.