“Impact of Climate Change on Sustainable Development in Small Island States”
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Transcript of “Impact of Climate Change on Sustainable Development in Small Island States”
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Plenary Session 1: The Economy and the
DFI: Situationer & Outlook
(Part II)
PRESENTATION by Deve Toganivalu, Secretary, ADFIPCEO, Fiji Development Bank &26 April, 2012.
Theme: “DFIs' Role in Sustainable Development amidst the Economic Crisis”
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Bech-de-mer
Pearl
Turtle shell
Coconut oil
Sandalwood
Whale
blubber
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Established in 1986
14 member countries
22 DFIs
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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
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$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
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“Sustainable development is
the expansion of substantive
freedoms of people today
while making reasonable efforts to avoid seriouslycompromising those of future generations.”
UNDP Sustainable Development Report 2011
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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)
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Opportunity to lobby for cheaper cost of funds
Alternative funding sources
Secure investors
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El Nino & La Nina
Frequency of floods and cyclones
Rising sea levels
Sea acidity
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Damage estimated at 0.01% of GDP –US $ 30MM and rising
FDB agricultural clients – 55%
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At risk are:- Food security- Communities to displacement- Economic survival
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Collectively PICTs emit
< 0.2% Equivalent
to emissions from Ireland, Oman or Denmark
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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.
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““Those who consume Those who consume farfar
more resources than more resources than theythey
require destroy the require destroy the lifelife
chances of those chances of those whosewhose
survival depends survival depends uponupon
consuming more.”consuming more.”
George Monbiot, author,George Monbiot, author,
columnist and columnist and environmentalenvironmental
campaigner (2012)campaigner (2012)
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www.fdb.com.fj