Remarks by Commissioner Hoekstra at the Pre-COP31 High-Level Session on Pacific Energy Transition: From Ambition to Implementation

Very important to be here and discuss this topic.

One – Pacific countries spend between 10 and 25% of their GDP on fossil fuel imports. That's huge.

Another number – and it's not comparable but it gives you an idea of the magnitude – Europe imports more than 80% of its gas and 95% of its oil.

All this tell us – such numbers do not serve our climate, competitiveness and unfortunately as we learned the hard way, our independence. Especially given what has happened this past year.

So we have climate, competitiveness and independence reasons for speeding up the transition away from fossil fuels and replacing it with clean, secure, resilient energy that we generate ourselves.

This is something, we as Europe, are pushing back home.

But we are also adamant that we want to do this together with our friends and partners across the globe, in particular with the Pacific.

We recognise the diversity: there is no one size fits all approach.

We seek to combine different tools depending on the needs of each country: technical assistance and budget support, regulation and utilities; grants and concessional finance for critical infrastructure.

To give you one example, in Fiji, the EU-funded ElectriFI facility has approved a EUR 4.4 million development loan for a 15 MW geothermal project on Vanua Levu.

This is ElectriFI's first investment in the Pacific.

It will help with the planning and risk-reduction work that must be done to make sure that this project sees the light.

We also understand that infrastructure needs are urgent while borrowing space is limited.

So we need to mobilise more investment, use finance more strategically and deliver greater impact on the ground.

We have a EUR 25 million Global Gateway Grant-based Infrastructure Facility for Pacific Island Countries, which is due to become operational in 2027.

For smaller and more vulnerable countries, we have grant-based support through the EUR 15 million Pacific – Regional Electrification Programme.