Private Sector Engagement
This priority area aims at strengthening the engagement and dialogue with the private sector and deepen public sector understanding of private sector needs and experience with respect to climate change responses. It also helps to identify investment opportunities and potential areas for collaboration.
- Capacity building activities have been conducted in the past years, with some work in progress: in 2019, PIFS and the Government of Cook Islands convened the Polynesia sub-regional private sector workshop on climate change and disaster risk finance in Rarotonga that built on the 2018 Melanesia sub-regional workshop in Port Moresby. Similar workshop was successfully conducted virtually for the Micronesia sub-region in 2020.
- National private sector mapping on climate change and disaster risk finance for Samoa, Vanuatu, Solomon Islands and the Cook Islands. For Samoa, this has resulted in the mobilisation of a short-term technical assistance to assist Samoa’s Chamber of Commerce. In Vanuatu, the private sector mapping has helped to increase awareness of climate change finance and, critically, to identify investment opportunities and potential areas for collaboration. As a result of the Vanuatu private sector mapping, concept notes were developed that incorporate the private sector’s needs for financing opportunities in the Agriculture and Tourism sectors.
- Similar work is ongoing for Tonga and will continue for other FICs.
Supported by DFAT/GIZ CFRP, the EU Pacific Adaptation to Climate Change and Resilience Building (PACRES) Projects and the Private Sector Development team at PIFS.