Nikhil Aiyush Kumar 
[Photo: MINISTRY OF ENVIRONMENT AND CLIMATE CHANGE/ FACEBOOK]
Fiji has launched a five-year $5.2 million plan aimed at preparing the country to enter international carbon markets by 2030.
The Five-Year Costed Carbon Market Plan was launched yesterday during the opening of the Pacific Pre-COP31 in Nadi.
The plan sets out the regulatory, technical and institutional systems Fiji needs before its first international carbon trade under Article 6 of the Paris Agreement.
It focuses on sectors including energy, transport, agriculture, waste and forestry, with strong emphasis on forests, mangroves, wetlands and other nature-based solutions.
Minister for Rural, Maritime Development and Disaster Risk Management Mosese Bulitavu says carbon markets must deliver benefits beyond the trading of carbon.
“For Fiji, carbon markets must be about more than trading carbon. They must deliver real climate action, unlock new and sustainable sources of climate finance, and ensure that the benefits reach our communities and resource owners.”
The plan places communities and resource owners at the centre, with provisions for fair benefit-sharing, social and environmental safeguards and Free, Prior and Informed Consent.
Fiji will also establish a Fijian Transactional Registry and a National Carbon Market Inter-Agency Technical Working Group to manage and track carbon market activities.
The Government will use the plan to engage development partners, donors and potential carbon buyers to secure the finance and technical support needed for implementation.
Conservation International says the plan could help Fiji attract high-integrity carbon finance while protecting ecosystems and supporting resilient livelihoods.
