Fiji issues first emerging market green bond

Fiji has become the first developing country in the world to issue a $50 million (£38m) green bond to fight climate change. The Pacific Island nation is seen as vulnerable […]

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By Priyanka Shrestha

Fiji has become the first developing country in the world to issue a $50 million (£38m) green bond to fight climate change.

The Pacific Island nation is seen as vulnerable to climate change, with official figures suggesting close to 20% of the region’s 10 million people could be displaced by 2050.

Frank Bainimarama, Fijian Prime Minister and President of COP23 said: “The Fijian people, along with every Pacific Islander, live on the front lines of climate change.

“By issuing the first emerging country green bond, we are sending a clear signal to other nations that we can be creative and innovative in mobilising funds and create win-win outcomes for countries and investors in adapting to the serious effects of climate change.”

Fiji has committed to achieve 100% renewable energy and reduce emissions in the energy sector by 30% by 2030.