Estimates of the costs of inaction have gone up, while those of action have decreased, mainly due to lower technology costs. Significant co-benefits can be reaped in transitioning to a low-carbon, climate-resilient economy.
As for anticipated outcomes, this regional approach can break down global challenges, promote local solutions and enhance the ongoing national effort to implement ambitious climate change actions. It aims to help raise climate ambitions and localizing SDGs implementation by tapping into subnational networks targeting private sector, and maybe address the harmonization of carbon pricing initiatives and possible linking of markets.
It is expected that strengthening private sector partners will help achieving public sector and whole-of-society development goals.
Outcomes also target transformative change and paradigm shift towards green growth in the Pacific.