The Ministry of Finance and Economic Management’s Development Coordination Division and Chamber of Commerce have joined forces for climate action under the Green Climate Fund readiness and preparatory support programme.

The Ministry of Finance and Economic Management, Development Coordination Division (MFEM-DCD) and the Cook Islands Chamber of Commerce – Punanga Kimi Puapinga o te Kuki Airani, are pleased to announce the signing of a Memorandum of Understanding (MOU), marking the start of a significant collaboration between the two organisations.

The MOU outlines the commitment of the Development Coordination Division to provide crucial support to the Chamber of Commerce for activities falling under the Green Climate Fund Readiness Programme, titled “Increasing the Resilience of the Cook Islands through Enhancing National Adaptation Programming”.

In a statement, the Chamber said MFEM-DCD is the delivery partner under the GCF Readiness Programme, ensuring oversight of the overall implementation of the programme, while collaborating closely with the Climate Change Cook Islands Office.

This partnership aims to bolster national capabilities within the private sector in addressing climate change challenges through strategic planning and implementation, it adds.

As part of this collaboration, the Chamber of Commerce as the voice of the private sector will play a pivotal role in supporting the Development Coordination Division and Climate Change Cook Islands in executing the GCF Readiness Programme over the next year.

The Chamber of Commerce’s responsibilities will include undertaking a private sector vulnerability analysis and exploring innovative climate adaptation incentives to stimulate private sector involvement in climate action, through consultations on Rarotonga and Pa Enua, the statement said.

Mani Mate, director of the Development Coordination Division, expressed enthusiasm for this collaboration, stating, “This partnership reflects our shared commitment to advancing climate resilience and sustainability. By leveraging the strengths of both organizations, we aim to make meaningful contributions to our national climate change priorities and goals.”

Adrienne Hosking-Tinirau, chairperson of the Chamber of Commerce, echoed these sentiments, emphasising the importance of private sector engagement in climate action.

“Our involvement in the GCF Readiness Programme aligns with our vision and strategic activities that seek to meaningful and genuinely contribute to a sustainable prosperous future for the Cook Islands. We look forward to contributing valuable insights and fostering climate innovation within the private sector,” she said.

According to the statement, this collaboration underscores the collective efforts of the public and private sectors in addressing climate change challenges.

“By combining expertise and resources, the Development Coordination Division and the Chamber of Commerce aim to inspire and drive positive change and promote sustainable practices within the Cook Islands.”