There is a need to issue corporate green bonds in Fiji.

Green bonds are designated debt security or bonds intended to encourage and support climate-related or other types of special environmental projects.

World Bank Group, senior financial specialist Aaron Levine says in the last two years, only the Fijian Holdings Limited Group has been issued a corporate green bond.

Levine says more companies need to come forward and support greener projects.

“Earmarking or promising to you to use the money for green proceeds, I think that is a great thing for Fiji, a country that is at the forefront of the effects of climate change. We saw that with the category five cyclone in the past and the devastation it caused. So yes, it raises money for Fiji and helps us finance projects that are green.”

Levine says green bonds help raise funds for the government which finances climate change mitigation projects.

He says this is very important for Fiji as we are directly subjected to the effects of climate change.
Kathrin