Fiji works with R20 coalition to finance Pacific green infrastructure
20 May, 2018, 6:00 am
FIJI has joined forces with Regions of Climate Action (R20) and Reunion Island to create the Sub-national Climate Fund for Islands and coastal regions (SnCF Islands).
A Government statement issued today said they would work together to foster the development of green infrastructure projects for the Pacific in renewable energy, waste management and municipal lighting, and also to create an investment fund to finance the projects.
Island States and territories are among those most affected by climate change, not least from severe weather, and rising sea levels.
The Government said the island states were also among those territories that suffered the most from the lack of essential energy, waste management and city lighting infrastructure projects that were necessary to power the economy, create jobs, and reduce negative impacts on health.
The statement said the approach would be based on BlueOrchard Finance and R20’s first fund, the Sub-national Climate Fund for Africa (SnCF Africa). It will complement the Pacific Regional NDC Hub launched at COP23 by seeking to leverage additional private and public investments in projects crucial to implementing and enhancing Pacific NDCs.
Fiji’s Ambassador in Brussels and the COP23 Climate Ambassador Deo Saran had presented a letter of support from the Fijian Government supporting this partnership with R20 at the R20 World Summit held this week in Vienna, Austria.
In the letter of support, Attorney-General and Minister responsible for Climate Change Aiyaz Sayed-Khaiyum said that Fiji looked forward to working with the R20 to help build the value chain for projects in the Pacific that would improve the lives and livelihoods of Pacific islanders and demonstrate a model of scalable climate investment solutions for vulnerable communities in other parts of the world.
Projects will be implemented using technologies that emit little carbon, and that are designed to meet the needs of local populations, creating local jobs, powering the economy, and reducing the impact of development on health.
R20 is a non-profit organisation founded by former Governor of California, Arnold Schwarzenegger.
R20’s mission is to support sub-national governments around the world to develop and finance green infrastructure projects, designed to meet the needs of local populations, and to be attractive to local and international investors.
Under the leadership of Prime Minister Voreqe Bainimarama, Fiji currently holds the Presidency of the 23rd Conference of the Parties to the 1992 United Nations Framework Convention on Climate Change.