Kelera Ditaiki 
[Source: Fiji Government/Facebook]
The Reserve Bank of Fiji has unveiled the nation’s first green finance taxonomy, a move the government says puts Fiji squarely in line with the historic climate finance commitments adopted at COP30 in Belém, Brazil.
Minister for Finance Esrom Immanuel says the framework is designed to help Fiji translate global climate pledges into tangible national action, including the goal of mobilizing US$1.3 trillion annually by 2035, tripling adaptation finance, and operationalizing the loss and damage fund.
“The current version 1.0 focusses on climate change mitigation prioritising the energy and transport sectors, which are two key contributors to Fiji’s greenhouse gas emissions. The taxonomy ensures that eligible activities substantially contribute to climate objectives while doing no significant harm to other environmental priorities.”
Immanuel says the taxonomy closely aligns with COP30’s pivot toward adaptation and resilience, incorporating 59 global indicators across key sectors such as water, infrastructure, and energy.
He adds that green bonds will become a critical tool in narrowing the US$6 trillion global climate finance gap, while improving access to concessional funding for Pacific Island nations increasingly threatened by climate impacts.
Fiji, he notes, continues to face some of the world’s highest climate-related losses with average annual cyclone damages estimated at five percent of GDP.
The devastation of Cyclone Winston in 2016, he says, remains a sobering reminder of the region’s extreme vulnerability.
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