Green financial policy for economic transformation workshop

May 21, 2024 6:30 am

[Source: Fiji Government/Facebook]

A two-day Workshop was conducted last week to share research findings, experiences, and knowledge about financial and industrial policies for economic transformation and development to be more equitable in line with the Sustainable Development Goals.

The workshop was organized by the United Nations Conference on Trade and Development.

Fiji’s Ambassador to Indonesia, Amena Yauvoli, in his remarks, acknowledged the role that UNCTAD and other development partners can leverage for Small Island developing states to attain some of our related SDGs and, ultimately, our climate goals.

Article continues after advertisement

Yauvoli adds that the SDGs are not merely global commitments for Fiji, but they have become embedded not only in development goals but also as a guiding framework for our national development and planning systems.

The Workshop provided an opportunity to discuss the role of public development banks and finance institutions in catalysing the transformation process to a cleaner, greener and more equitable economy.

The discussions also focused on the interlinking role of industrial policy as the essential partner to help create and guide demand and give direction to public or private finance.

Fiji’s participants at the Workshop provided an update on the Fiji Government’s progress in the work undertaken on climate action in support of Fiji’s implementation of its Climate Change Act and the achievement of Fiji’s Nationally Determined Contributions.

Fiji also reiterated its commitment to achieving the global climate goals and the SDGs.

Yauvoli says that Fiji’s efforts to make its industries more sustainable are challenging because developing renewable energy requires significant funding. This investment is essential to build the expertise and gather the resources needed for a sustainable, greener economy.