Private Sector Engagement
Solar Grid installed by Coca-Cola Amatil Fiji at its Suva Facility to support its operations (Photo Credit: Sunergise).
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, Cook Islands and recently completed for Tonga at the end of 2020. 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. Tonga private sector mapping on climate finance has been cleared by the government and assisted Tonga to secure a new GCF readiness grant. Solomon Islands private sector mapping on climate finance resulted in collective support from the Ministry of Climate Change (GCF NDA), Ministry of Finance & Solomon Islands Chamber of Commerce to pursue dedicated private sector readiness grant and project funding from the GCF. Cook Islands private sector mapping report has been considered by government and used in the feasibility study for their National Adaptation Programme.
- Continuous work with other Forum Island Countries to strengthen private sector engagement in climate finance. New requests for support have been received in 2021 from the national Chambers of Commerce in Samoa, Fiji, FSM, Kiribati and Tuvalu.
Supported by the EU Pacific Adaptation to Climate Change and Resilience Building (PACRES) Projects and the Private Sector Development team at PIFS.