Forging Partnerships: PCRIC’s Visit to Nauru
Following the recent inaugural Pacific Region Disaster Risk Finance Workshop held earlier this month in Fiji, representatives from Nauru attended, paving the way for a subsequent visit by a mission team from PCRIC to the island nation.
The purpose of the visit was to build upon the discussions initiated during the workshop and to provide further technical insights into PCRIC’s services directly to Nauru’s leadership. These meetings also offered a crucial platform to address urgent issues concerning climate change and disaster management in Nauru.
During their visit, the PCRIC mission team had the privilege of engaging with several key officials, including the Minister of National Emergency Services, alongside other senior officials.
One of the key issues highlighted during the discussions centered on the profound impact of climate change on Nauru, particularly concerning drought, which has been identified as a significant natural disaster within the government’s disaster management framework.
The effects of low rainfall often lead to water shortages, necessitating costly measures such as increased use of expensive desalination or importing water from Australia to meet the demand for drinking water. Additionally, the government incurs significant expenses associated with distributing water to households during drought periods. Nauru typically experiences a dry spell from May to October, although droughts have been known to persist for up to three years.
The mission team explored potential drought policy solutions for Nauru, emphasising the importance of early action triggers based on rainfall patterns, as well as highlighting the availability of premium finance through PCRIC. The PCRIC team also emphasised the Company’s vital role in supporting government efforts in climate change adaptation through assistance in the development of drought contingency plans, ensuring Nauru is better prepared to respond to projected droughts or national emergency declarations.
There was notable level of interest from Nauru’s leadership, with the Secretary of Finance requesting a briefing note on potential policy development, including indicative costs to be borne by the government. The mission team underscored the importance of considering these costs within the broader context of drought policy development, especially given Nauru’s ongoing budget formulation.
Dialogue also addressed the process for Nauru to become a member of the Pacific Catastrophe Risk Insurance Foundation (PCRIF), with the membership fee waived upon policy purchase.
The PCRIC mission team expressed heartfelt gratitude for the hospitality extended by the government of Nauru, acknowledging the importance of collaboration in tackling the challenges posed by climate change and disaster management.
