Fiji Launches Sustainable Finance Roadmap To Advance Climate-Resilient and Inclusive Growth
Fiji Launches Sustainable Finance Roadmap to Advance Climate-Resilient and Inclusive Growth
Fiji takes a major step toward climate-smart finance with the launch of its Sustainable Finance Roadmap, developed with UNEP Copenhagen Climate Centre and NDC Partnership support.
The roadmap was developed through close collaboration between the Bank and the Ministry, with technical support from the UNEP Copenhagen Climate Centre funded through the NDC Partnership.
It sets out a strategic vision to align Fiji’s financial system with its climate and development goals, while strengthening resilience to environmental and social risks.
A financial system that can withstand and respond to climate change
As a small island developing state, Fiji is particularly vulnerable to the impacts of climate change. Its economy, heavily reliant on agriculture and tourism, is exposed to rising temperatures, extreme weather events, and biodiversity loss. At the same time, climate change is increasingly recognized as a risk to financial and price stability, underscoring the need for a financial system that can both withstand and respond to these challenges.
The Sustainable Finance Roadmap articulates a shared vision to progress towards a more sustainable, climate-resilient and inclusive financial system. It reflects extensive consultation with stakeholders across government, the private sector, and development partners.
The roadmap integrates key national strategies, including the National Climate Change Policy, the National Financial Inclusion Strategy, and the Fiji Reserve Bank Strategic Plan. By bringing these frameworks together, it provides a cohesive and forward-looking approach to sustainable finance in Fiji.
Going beyond decarbonization
Central to the roadmap is a shared vision for a financial system that is inclusive, transparent, and capable of mobilizing resources for climate action. It outlines five Sustainable Finance Objectives:
Climate Change Mitigation & Adaptation
Biodiversity & Ecosystem Protection
Pollution Prevention
Social Risks & Financial Inclusion
Governance
Importantly, the roadmap recognizes that sustainable finance in Fiji must go beyond decarbonization. The country’s natural ecosystems are deeply intertwined with its economic stability. Environmental degradation, such as deforestation and biodiversity loss, poses growing risks not only to individual institutions but to the financial system as a whole.
The launch of the Sustainable Finance Roadmap marks a significant step forward in Fiji’s efforts to mainstream climate considerations into financial policy and practice. It lays the foundation for coordinated action across sectors and institutions, and offers a model for other countries seeking to build climate-resilient financial systems.
Following the launch of the Roadmap, the UNEP Copenhagen Climate Centre will be providing capacity building to key Fijian institutions in support of the implementation of the roadmap.
