WELLINGTON, Sept. 25 (Xinhua) -- New Zealand will increase its global climate finance commitment to 300 million NZ dollars (199 million U.S. dollars) over four years, with most of this going to the Pacific, Prime Minister Jacinda Ardern said on Tuesday in New York, according to a government statement.
The prime minister is in New York attending the United Nations Leaders Week, and action on climate change is high on her agenda.
The increased investment is being made from New Zealand's Overseas Development Assistance, which was increased by nearly 30 percent, or 714 million NZ dollars (474 million U.S. dollars), in Budget 2018 to support the Pacific Reset.
"This funding allocation will focus on practical action that will help Pacific countries adapt to climate change and build resilience," Ardern said.
The help includes providing support for coastal adaptation in Tokelau to reduce the risks of coastal inundation, and continuing the efforts to strengthen water security across the Pacific, building on current initiatives such as those in Kiribati to provide community rainwater harvesting systems and invest in desalination.
"We have a responsibility of care for the environment in which we live, but the challenge of climate change requires us to look beyond our domestic borders, and in New Zealand's case towards the Pacific," she said.
The focus of this financial support is on creating new areas of growth and opportunity for Pacific communities, Ardern said, adding they want to support the Pacific neighbors to make the transition to a low carbon economy without hurting their existing economic base.
"This funding will complement our ongoing support to help developing countries in the Pacific and beyond meet their emissions targets through renewable energy and agriculture initiatives," she added.
