Press Release No. : 30/2025
Date : 11 December 2025
Press Release No 30 – Fiji Launches Green Finance Taxonomy to Drive Climate Resilient Investments
Minister for Finance, Commerce and Business Development Honourable Esrom Immanuel with Australia’s High Commissioner to Fiji, His Excellency Peter Roberts OAM, IFC Operations Officer Sameer Chand and Governor RBF, Ariff Ali at the launch of the Green Finance Taxonomy Framework
In a landmark move towards building a sustainable and climate resilient future, the Minister for Finance, Commerce and Business Development Honourable Esrom Immanuel officially launched Fiji’s first Green Finance Taxonomy; a pioneering framework designed to guide investments that align with the nation’s climate and development priorities. The milestone achievement reflects the success of a partnership between the Reserve Bank of Fiji (RBF), the International Finance Corporation (IFC) and Climate Bonds Initiative to deliver a robust tool that will guide green finance and accelerate Fiji’s transition to a low-carbon economy.
As a small island developing state, Fiji faces acute challenges from climate change, including rising sea levels, intensifying cyclones and shifting rainfall patterns. In response, the Fiji Government has demonstrated global leadership through its ratification of the Paris Agreement and ambitious strategies such as the updated Nationally Determined Contribution (NDC), National Climate Change Policy 2018–2030, Green Growth Framework and the Low Emission Development Strategy 2018–2050.
Developed under the guidance of a Project Steering Committee and technical working group comprising leaders from key Government ministries and the private sector, the Green Finance Taxonomy provides a science based classification system for environmentally sustainable economic activities. It is tailored to Fiji’s unique context while aligned with international best practices.
The Fiji Green Finance Taxonomy is a critical tool that:
- Defines and labels green investments – establishing a common language for what qualifies as “green” or “sustainable” in Fiji;
- Mobilises private capital – creating a predictable environment for green projects and fostering innovative financial products;
- Enhances transparency and integrity – setting clear criteria to improve disclosure and prevent greenwashing;
- Supports policy implementation – serving as a reference for incentives, regulations and financial products that promote sustainable economic activity;
- Builds national capacity – promoting shared understanding of sustainable finance across sectors and stakeholders; and
- Enables measurement and reporting – integrating with Fiji’s Measurement, Reporting and Verification system to track impacts and strengthen accountability.
Version 1.0 of the Taxonomy prioritises climate change mitigation, with an initial focus on the energy and transport sectors, which are key contributors to Fiji’s greenhouse gas emissions. Activities are assessed against rigorous technical screening criteria and social safeguards to ensure they substantially contribute to climate objectives while doing no significant harm to other environmental priorities.
Honourable Esrom Immanuel emphasised “The Fiji Green Finance Taxonomy provides a clear framework for channelling private capital into climate-aligned investments, advancing our national environmental and development priorities. This initiative is a pivotal step toward strengthening financial resilience and ensuring stability in the face of escalating climate challenges.”
World Bank Group Country Manager for Fiji, Mr Stefano Mocci noted “Central banks play a pivotal role in driving the sustainable finance agenda by setting credible standards that strengthen market confidence. We commend the RBF’s leadership and the strong collaboration with IFC, supported by the Government of Australia, in the development of the Green Finance Taxonomy; a significant milestone that aims to mobilise private capital and align policies with climate and sustainability goals.”
Australia’s High Commissioner to Fiji, His Excellency Peter Roberts OAM, added, “Aligning Fiji with global standards, including Australia’s Sustainable Finance Taxonomy, will unlock more opportunities for projects that protect the environment and support local communities. We applaud RBF’s leadership and its collaboration with IFC in laying this foundation, and we look forward to continued engagement to expand inclusive high-impact green finance in Fiji.”
Climate Bonds Initiative (CBI) Head of Taxonomy, Mr Matteo Bigoni, stated, “By launching this Taxonomy, Fiji is equipping its financial sector with the clarity needed to shift from ambition to action, directing capital toward projects that deliver tangible climate and development benefits today. CBI is pleased to have contributed technical expertise to this milestone, helping ensure the framework reflects global best practice while remaining firmly anchored in Fiji’s priorities.”
The Taxonomy was developed through extensive stakeholder engagement, including contributions from the Ministry of Environment & Climate Change, Ministry of Finance, Commerce and Business Development, Association of Banks in Fiji, Fiji Development Bank, Finance Companies Association, Department of Energy & Transport and the Ministry of Rural & Maritime Development & Disaster Management. Reflecting the latest scientific, policy and market developments, the Taxonomy is designed for review within 2 to 3 years to ensure it remains inclusive, contextually relevant and robust.
The RBF will work closely with the project team to raise awareness and build capacity across targeted institutions to ensure effective implementation. Reaffirming RBF’s commitment, Governor Ariff Ali stated, “This Taxonomy is a cornerstone of Fiji’s sustainable future, empowering the financial sector to channel investments into climate-aligned projects and drive a resilient, low-carbon economy.”
To view the Taxonomy Please Click Here
RESERVE BANK OF FIJI
For further details, please contact:
Communications Office
Telephone: (679) 3223 381 Email: info@rbf.gov.fj
Mervin Singh – Manager Corporate Communications
Telephone: (679) 3223 229 Email: mervin@rbf.gov.fj