Litia Cava 
[File Photo]
Pacific banks must move beyond technical green frameworks to ensure sustainable finance delivers actual investment and measurable economic benefits, says BSP Chief Financial Officer Rajeshwar Singh.
Speaking at the Pre-COP31 Taxonomy to Transition event in Suva, Singh stressed that banks need clear evidence of economic value before directing capital toward sustainable projects, warning against treating green classifications as an end in themselves.
“We bankers are practical people. Show us the money, we’ll give you the money.”
Singh said banks must integrate sustainability into credit standards, balance sheet management, and lending decisions while maintaining commercial viability and profitability.
For the Pacific, this requires financial institutions to ensure investments make economic sense and deliver practical benefits to communities.
He also warned against overly complicated frameworks that risk creating administrative burdens without producing results.
Operating across seven Pacific markets, BSP requires a common direction while allowing implementation to reflect individual country realities, such as differing approaches in Papua New Guinea and Samoa.
Technology, reliable data, and institutional capacity will be critical to measuring outcomes.
Singh adds that BSP is already undertaking ESG work at the group level and outlining a phased implementation over the next 12 months.
Ultimately, Singh stressed that sustainable finance must be grounded in the practical realities facing local customers, with clear outcomes measured rather than commitments existing only on paper.
The discussion comes as Pacific countries look to align green taxonomies and mobilize investment ahead of COP31.
