The Ministry of Economy (MOE) is working with the Reserve Bank of Fiji and the International Finance Corporation to launch these bonds with “green bond certification” before the COP23 meeting.

The GOF has established several incremental financial support incentives to increase the inclusion of renewable energy in power generation, the uptake of energy efficiency vehicles, and improvements for energy efficiency in electricity consumption. An example of an incentive is higher power purchase tariffs for renewable energy IPPs, as well as tax incentives, which in 2017 include, but are not limited to, the following (FRCA, 2016): • Corporate tax wavers for electric vehicle charging stations, bio-fuel production, Small and Medium-Sized Enterprises (SMEs), and tax-free regions • Duty concessions on equipment for renewable energy in power generation, electric vehicle charging stations, hybrid vehicles, and spare parts for ships • Direct subsidy on low emissions diesel bus operators • Investment deduction in forestry investing • Investment allowance in capital expenditures for hotels • Duty concessions for new hybrid vehicles.

FDB Green Lending Fiji has established the FDB as an accredited entity to the Green Climate Fund (GCF). The completion of the accreditation process for FDB ensures that Fiji has more direct access to GCF funds for climate change mitigation and adaptation projects. This will create opportunities not only for the Fijian private sector, the GOF, and state-owned enterprises, but also for the FDB who can serve the region through green lending products that constitute the concessional terms of the GCF.