Australia’s Pacific neighbours could save almost $1 billion a year by swapping fossil fuel imports for renewable energy – and cover the cost of the transition in just over a decade.
UNSW Sydney released the findings on Tuesday after analysing fossil fuel costs in 21 Pacific countries, from American Samoa to Vanuatu.
The study comes days before regional leaders gather for the Pacific Islands Forum in Palau, where they will discuss climate change and renewable energy ahead of November’s COP31 event.
The report, Counting The Cost of Fossil Fuels in the Pacific, analysed fuel imports used to run power plants, generators, boats and vehicles in Pacific countries.
It found fossil fuels cost each nation between 10 and 25 per cent of their economic output – significantly more than the regional average spent on education (eight per cent) and health (six per cent).
