The private sector is essential in driving green investment projects in Fiji, with experts underscoring the need for de-risking these initiatives to encourage greater participation. Kamal Chetty, the CEO of Investment Fiji, emphasized during a panel discussion at the 3rd Conference on Climate Finance, Transparency, and National Resilience in Suva that policy stability, targeted plans, and financial mechanisms are vital for mitigating risks associated with private investments.
Chetty’s insights followed a question from Muhammed Akhtar of KPMG Fiji regarding the strategies for de-risking green investments to encourage a stronger private sector presence. He highlighted that the Reserve Bank of Fiji and other financial institutions are actively pursuing methods to lessen the risks tied to these investments.
“Policy stability is critical for investors,” Chetty stated, stressing the importance of consistent investment policies. He advocated for having a strategic sector-specific plan which would provide clarity and assurance to long-term investors.
Fiji’s dedication to establishing an encouraging investment climate has already led to a significant increase in green investments, according to Chetty. He reiterated the necessity of maintaining a stable policy framework to continue attracting funding for green initiatives and climate-related projects. Despite the challenges, he expressed hope that identifying de-risking opportunities would open up new pathways for investment.
This dialogue echoes the previous calls from Fiji’s leadership for increased involvement of the private sector in the fight against climate change. Environment and Climate Change Minister Mosese Bulitavu has urged businesses to take a proactive stance, advocating for a blend of private funds, innovative approaches, and effective policy implementation.
The ongoing investigation into financial support mechanisms reflects a broader regional effort across the Pacific to mobilize climate finance, addressing both infrastructure needs and enhancing resilience against climate impacts. By fostering sustainable investment practices, Fiji aims to position itself as a leader in environmental accountability.
The advancement of hybrid financing strategies and enhanced partnerships between public and private sectors represents a promising trajectory for improved resilience and sustainability of Fiji’s infrastructure. This balanced approach to economic development and environmental stewardship is particularly vital in navigating the complexities of climate challenges moving forward.