The Workshop on Greening Industrial and Financial Policy for Economic Transformation was conducted by the United Nations Conference on Trade and Development (UNCTAD) in Bandung, Indonesia, from 14 to 15 May 2024.
UNCTAD has been conducting research and policy analysis on the theme of industrial and financial policies for the shift to a greener, more inclusive economy.
In this, the two-day Workshop aimed to share research findings and country practitioner experiences and knowledge about financial and industrial policies for economic transformation and development, to be more equitable and sustainable in line with the Sustainable Development Goals (SDGs).
The Workshop also commemorated UNCTAD’s 60th Anniversary.
Fiji was represented at the Workshop by Mr Amenatave Yauvoli, Ambassador of Fiji to Indonesia; Ms Ateca Rounds, Director of Economics at the Ministry of Trade, Cooperatives, Small and Medium Enterprises; Ms Mere Bainimarama, Senior Environment Officer at the Ministry of Environment; Mr Solomoni Vunitokalau, Senior Scientific Officer at the Department of Energy; and Ms Vasiti Cirikiyasawa, Second Secretary at Fiji’s Embassy in Indonesia.
With the theme “Greening Industrial and Financial Policy for Economic Transformation”, Ambassador Yauvoli, in his opening remarks, acknowledged the role that UNCTAD, other UN systems and development partners can leverage for small island developing states, like Fiji, to attain some of our related SDGs and ultimately our climate goals.
Ambassador Yauvoli added that the SDGs are not merely global commitments for Fiji, but they have become embedded as not only our own development goals, but have also served as a guiding framework for our national development and planning systems.
The Workshop provided an opportunity to discuss the role of public development banks and finance institutions (DFIs) in catalyzing the process of transition and transformation to a cleaner, greener and more equitable economy.
An additional element to the discussion focused on the inter-linking role of industrial policy as the essential partner to help create and guide demand and to give direction to finance, whether public or private.
Fiji’s participants at the Workshop provided an update on the Fiji Government’s progress on the work undertaken on climate action, in support of Fiji’s implementation of its Climate Change Act and the achievement of Fiji’s Nationally Determined Contributions (NDCs).
Underpinning this, Fiji reiterated its commitment to achieve the global climate goals and the SDGs.
On the greening of Fiji’s industrial structures, the issue of funding for the development of renewable energy was also raised, contributing to the challenge of attaining expertise, innovation and significant financial resources to adequately support Fiji’s path towards a more sustainable and greener economy.
