Climate Finance in Palau

Palau released its national Climate Change Policy for Climate and Disaster Resilient Low Emission Development in 2016. The policy is multi-sectoral, and sets out priorities, interventions and financing. A National Climate Change Coordinator position is currently housed within the Office of Climate Change, based in the Bureau of Budget and Planning, Ministry of Finance. Furthermore, Office of the President is the national focal point for both the Adaptation Fund and the GCF. The Palau government has also stated its intention to apply for accreditation as a National Implementing Entity under the Adaptation Fund and Green Climate Fund and a recent Price-water house Coopers Gap Assessment for Readiness Support was undertaken for the Ministry of Finance to identify key priority areas to address, in order to progress an accreditation application. The Office of Project Management has recently been operational and provides a coordination point for government and non-government stakeholders in the identification and development of projects for climate change financing.

Country Activities and Progress

  • The Palau Climate Change and Disaster Risk Finance Assessment was undertaken by a joint team representing PIFS and SPC, from 10 – 24 February, 2017. A total of 94 individuals were consulted, including national and state government officials, NGO reps, private sector, development partners, and private consultants/practitioners [report forthcoming]
  • A Business Case was produced for the development of a National Climate Change Portal for Palau, in collaboration with SPREP and the support of the DFAT/Griffith University Pacific iCLIM Project [link report]
  • Data and information stocktake process undertaken, to identify where information related to CC, DRR and climate finance is located across sectors and within different government agencies and non-government organisations [link report]
  • The ISACC Project is supporting a Project Specialist position in the Bureau of Budget and Planning. This position has enabled the establishment of the Office of Project Management and is working closely with the Office of Climate Change and Office of the President in strengthening Palau's project development and management processes