New Zealand is contributing $20 million to help the Pacific prepare for disasters and boost its climate resilience.
Prime Minister Christopher Luxon, who is at the Commonwealth Heads of Government meeting in Samoa, said on Saturday that the Pacific region faced "severe challenges" from natural disasters and the impact of climate change.
"New Zealand is committed to doing its part to help meet them," he said.
"We're joining with other countries in helping to progress the Pacific Resilience Facility, which will encourage public and private sector investment in preparedness for natural disasters and resilience to the effects of climate change."
Deputy Prime Minister Winston Peters, who is also in Samoa, said the fund would encourage public and private sector investment in community projects, so that Pacific Island nations would have access to climate finance.
"We urge more countries to join us in making it a reality. The facility's focus on community-level projects will ensure practical benefits for Pacific Island communities. It is also a demonstration of what our region can achieve collectively.
"As we head into COP29 next month, where a new global climate finance goal will be agreed, it's important to emphasise small island states and their communities need climate finance that they can actually access."
Australia has contributed NZ$110m to the facility, while Saudi Arabia has contributed $84m and the United States $42m. (All $ figures converted to NZD)
The Commonwealth Heads of Government Meeting (CHOGM) wrapped up on Saturday with a declaration about the importance of safeguarding the oceans.
Climate change, slavery reparations, and the rule of law were also major topics signalled ahead of the meeting.
The representatives from the 56 Commonwealth countries who had gathered in Samoa for the meeting were in discussions for about six hours.
They were officially welcomed to CHOGM by King Charles on Friday. He spoke about climate change as an existential threat and highlighted the Commonwealth's shared belief in the rule of law.
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His speech was preceded by that of the Commonwealth secretary general Patricia Scotland, who said the grouping's strong foundation of reform had led to it being an "influential and indispensable" resource for good in the world.
She also spoke about what she said was the "essential paradox" of the modern world, where people were more connected than ever, but where the world also seemed more dangerous.
Christopher Luxon at the Commonwealth Heads of Government Meeting opening ceremony on Friday. Photo: AFP / Manaui Faulalo
The togetherness of a group of disparate nations was what highlighted the strength and value of the Commonwealth, she said - also pointing to estimates that trade in the member countries was expected to top a trillion dollars by 2026, and double that in 2030.
Luxon had previously spoken about wanting to connect more with countries that New Zealand had traditionally not engaged with so much in the past, including African and Caribbean countries.
However, a push for reparations for slavery by a grouping of 15 of those Caribbean nations did not get any support from Peters.
Peters had on Friday said that "when the Europeans arrived in my country, my people were practising slavery. We're not going to deny the facts ... we're not going to start preaching to others when we were doing it ourselves".
However, he also saw value in the Commonwealth - and hoped it would become a stronger font of cooperation.
"I've always over the years wanted to see them to far, far more with the Commonwealth than they have done," he said.
"Far more economic cooperation, far more academic cooperation, far more medical cooperation."
While in Samoa, Peters - who is also foreign minister - met with the Marine Pollution Advisory Committee, which is leading the Samoan government's response to the sinking of the HMNZS Manawanui.
The New Zealand Navy ship sank earlier in the month after hitting a reef just off Samoa's southern coast and catching fire.
About 200,000 litres of diesel have since leaked from the vessel.
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