[Source: Fijian Government / Facebook]

As the United Nations Climate Conference progresses into its final week, Fiji is at the forefront of the negotiations to mobilize support for local communities and families who are affected by the adverse impacts of the climate crisis.

The head of the Fijian delegation at COP27, Fiji’s Permanent Representative to the United Nations, Ambassador Satyendra Prasad spoke at the “Blue Economy Financing Models for the Pacific Island Countries” at a side event organized by the Fijian Government and Monash University.

Ambassador Prasad says as a large ocean state, blue finance is not only central to Fiji, but a key player in economic recovery and the pandemic recovery.

He also highlighted that Fiji’s Sustainable Bond Framework launched last week at COP27, will clearly articulate the blue economy projects and criteria with potential investors while ensuring consistency and transparency of projects, be it in the blue, green or even social space.

“The Pacific islands have been very clear, very forceful that international communities needs to deliver on the finances that will allow us to scale up and speed up our adaptation measures.”

One such initiative includes the Pacific Blue Shipping Partnership, which aims to reduce shipping emissions in line with International Maritime Organization’s targets and enhance shipping safety in the region.

Ambassador Prasad also called for long-term visions, protection and conservation to be at the core of financing investments to deliver a sustainable future and that the Pacific’s Blue economy ambitions require capital investors who are focused more on the impact rather than returns.

[Source: Fijian Government / Facebook]