Climate bonds such as green and blue bonds are very much effective and has proven to be beneficial in mitigation projects undertaken in various parts of the country.

This was highlighted by the Permanent Secretary of Environment and Climate Change Dr Sivendra Michael.

Michael says that Fiji has so far secured $5.7 million funding for nature-based solutions to combat the rising challenges of Climate Calamities.

The PS for Environment and Climate Change says that green bonds have yielded positive outcomes

Permanent Secretary of Environment and Climate Change Dr Sivendra Michael

For the green bonds, it’s been implemented and it’s effective very much. You see so many of the good work from the green bonds that have been initiated. We had the, you know, the drill incubator work that also transpired as a byproduct of the green bonds. We also had our work on drill electrification fund as well.”

Michael states that projects under the blue bonds have been prioritized.

He adds that there is a clear lack of understanding amongst people on climate finance.

The PS says that it is the climate finance is mistaken for the amount of funds that will be used to build new infrastructure however it will be to build infrastructure in areas that is continuously impacted by climate change.

Michael states that they want to build resilience in every development and that is what climate finance and bonds are about.

The Environment PS states that they are going to start the implementation process for similar initiative regarding climates bonds in this financial year.