The UK Government has announced a significant partnership with the British High Commission (BHC) in Suva, Fiji, aimed at delivering climate finance projects across Pacific Island nations.
This two-year initiative is designed to advance sustainable finance strategies within these economies, facilitating decarbonization efforts, alleviating poverty, and addressing the impacts of climate change. Key components of the partnership include enhancing institutional capabilities by placing climate finance specialists in governmental roles to spearhead sustainable initiatives, as well as conducting strategic feasibility studies to better inform sustainable development endeavors.
Should this collaboration yield successful outcomes, a second phase will involve the Global Green Growth Institute (GGGI) overseeing investment activities, supported by the UK’s Small Island Developing States Capacity and Resilience Programme. The GGGI is an intergovernmental organization dedicated to supporting sustainable development through green growth strategies.
British High Commissioner Dr. Brian Jones remarked, “While the UK has much to learn from the Pacific about resilience, our experience with large-scale global finance enables us to assist Pacific partners in navigating the complexities of climate funding. We are eager to collaborate with GGGI to provide technical expertise directly to government institutions to build a sustainable framework for climate finance in the Pacific.”
Katerina Syngellakis, the regional director for GGGI in the Pacific, added, “This partnership leverages GGGI’s experience in the region to help Pacific Member States secure climate finance, working in close alignment with government institutions. We are excited to join forces with the UK to strengthen capacity for climate financing in the Pacific.”
Laimonas Noreika, co-founder of HeavyFinance, emphasized the importance of this initiative: “The UK’s steadfast commitment to driving positive change on a global scale is commendable. This partnership illustrates the proactive and collaborative actions necessary to tackle the urgent challenges posed by climate change. By enhancing access to funding and encouraging sustainable projects, this initiative not only bolsters the resilience of Pacific nations but also serves as a robust example of international cooperation.”
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