Papua New Guinea Champions Green Finance at International Climate Meeting

The recent Green Climate Fund (GCF) Board Meeting held in Port Moresby has underscored the growing leadership role that Papua New Guinea (PNG) is taking in the global push for climate resilience and sustainable finance.

In a keynote address, the Governor of the Bank of Papua New Guinea, Elizabeth Genia, highlighted both the profound impact of climate change on small island nations and the critical need for these countries to have a voice in shaping global climate finance. Genia emphasized that for PNG, climate change is a daily reality affecting coastlines, communities, and livelihoods, and she expressed deep appreciation for the GCF’s $63 million commitment to supporting sustainable forest management in the country. This funding not only helps preserve vital ecosystems but also strengthens the economic wellbeing of local communities dependent on forest resources.

The address also showcased PNG’s progress in building a robust green finance ecosystem, with initiatives such as the launch of a national Green Taxonomy, the introduction of an Inclusive Green Finance Policy, and the establishment of the Green Finance Centre. Genia outlined ambitious next steps, including the rollout of the Green Refinancing Facility and the Green Guarantee Facility by August 2025 and preparations for PNG's first green bond issuance in 2026. These efforts are strategically aligned with international priorities to unlock private capital, deepen institutional capacity, and foster innovations in green finance for vulnerable countries. The speech further recognized the vital collaboration with regional and international partners, which has accelerated PNG's advancement toward climate-aligned economic policies and instruments.

Papua New Guinea’s approach stresses not just policy changes, but a steady, purposeful transformation of financial systems to serve both people and planet. By sharing its journey and learning from others, PNG is helping to redefine the center of gravity in global climate finance—proving that leadership from vulnerable nations is vital to worldwide efforts against climate change.

This news illustrates how emerging economies are taking proactive, strategic steps to shape sustainable finance at both national and global levels, emphasizing their indispensable role in the fight for climate resilience.