The Reserve Bank of Fiji (RBF) has officially unveiled Fiji’s Sustainable Finance Roadmap in collaboration with various partners to realign the country’s financial system with its climate objectives and the Sustainable Development Goals (SDGs). This strategic framework, supported by the NDC Partnership, aims to enhance sustainability within Fiji’s financial sector while directing investments toward climate-resilient and inclusive growth.
The roadmap centers around three essential pillars: improving transparency regarding climate and sustainability, mobilizing resources for sustainable investments, and fostering climate resilience through enhanced financial inclusivity. Dr. Sivendra Michael, the Permanent Secretary for Environment and Climate Change, emphasized the importance of collaboration across sectors, noting that successes in these initiatives will depend on a collective national effort.
RBF Governor Ariff Ali has underscored the critical need for sustainable finance, especially given the pressing climate risks and global uncertainties. The Roadmap’s creation involved extensive discussions among various stakeholders, including the Office of the Prime Minister, the Ministry of Finance, and the Association of Banks in Fiji, reinforcing a unified approach to sustainability.
With the launch of the Sustainable Finance Roadmap, the RBF intends to collaborate with these partners to increase awareness and build institutional capacity to implement the roadmap effectively across Fiji’s financial infrastructure. The initiative marks an important milestone in Fiji’s journey toward a more climate-resilient future, positioning finance as a key driver for sustainable and inclusive development.
This initiative builds on recent trends in Fiji, such as the Fiji Development Bank’s new Sustainable Blue Finance Framework, which aims to enhance the nation’s blue economy and foster innovative financing solutions to support projects benefiting marine ecosystems. The simultaneous push for sustainable practices reflects a comprehensive approach to climate action in Fiji, showcasing a commitment to long-term resilience and economic prosperity.
By emphasizing climate solutions and collaboration, Fiji is paving the way for a sustainable future in finance and climate resilience. The proactive measures taken through the Sustainable Finance Roadmap signal a hopeful trajectory for the nation, fortifying its commitment to addressing climate change while nurturing economic growth.