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Financial Institution Vulnerability Assessment Identifies Risks in Kiribati
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A recent rapid assessment conducted by the Kiribati Ministry of Environment, Lands and Agriculture Developments, the Stimson Center, and the Commonwealth Secretariat has identified significant ecological and financial risks facing Tarawa, Kiribati. The assessment highlights the country’s extreme vulnerability to coastal flooding, reliance on revenue from offshore foreign-flagged purse seine tuna fishing, and inadequate waste management.
Climate and Ocean Risks
The Climate and Ocean Risk Vulnerability Index (CORVI) tool was used to analyze data on climate and ocean risks, revealing that Kiribati is at high risk of economic and ecological disaster. The assessment provides a roadmap for the government to address these issues by:
- Investing in infrastructure to mitigate flooding
- Moving towards a circular economy that emphasizes waste recycling
- Diversifying its economy away from offshore fishing licenses
Recommendations and Support
Heidi Prislan, Adviser for Commonwealth Blue Charter programme, said: “The data collected and presented by the rapid assessment will give leaders and communities in Kiribati the information they need to continue to address the runaway flood situation there, and begin to improve its direly inadequate waste management systems.”
The assessment was conducted with support from:
- Ocean Risk and Resilience Action Alliance (ORRAA)
- UK’s Blue Planet Fund
- Commonwealth Secretariat
- Stimson Center
Report Availability
The report is available on the Stimson Center website.
Quotes from Experts
Sally Yozell, Senior Fellow, Director of the Stimson Center’s Environmental Security Program, and CORVI Project lead, said: “The CORVI Rapid Assessment confirms that the climate situation in Kiribati is dire. This report provides Kiribati with an urgent roadmap for actions to address several economic and ecological issues that will continue to deteriorate without swift and strong interventions.”
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