PM launches Fijian Green Bond at London Stock Exchange

The Prime Minister Voreqe Bainimarama says it was an important day for Fiji as we celebrate the listing of Fiji’s Sovereign Green Bond on the London Stock Exchange that is arguably the premier capital market in the world.

While speaking at the Daily Opening of the London Stock Exchange to celebrate the Launch of Green Bond, Bainimarama says it has been a great thrill for him to be there in person to open the day's trading.

He says Fiji has brought a novel financial instrument to this famous floor which is designed to help the nation cope with the reality of climate change and to finance the various projects needed to build a more climate‑resilient economy.

Bainimarama says Fiji has shown the world that an emerging market bond with these characteristics can be launched successfully.

The Prime Minister says the Bond was issued in tranches and both so far have been oversubscribed, indicating confidence in both the standards applied to the Bond and the stability of the Fijian economy as well as tremendous support for the efforts to deal with climate change.

Bainimarama says Fiji's Green Bond Framework has been independently verified to have clear environmental benefits and to be credible, transparent and consistent with the highest global standards.

He hopes that the Bond will be an example that other sovereign governments and private investors will follow because there is need trillions of dollars to flow into investments that produce financial returns and both mitigate climate change and adapt to its impacts.

Bainimarama says this year he is the President of COP23 and his role is to help the governments of the world implement what they committed to in the Paris Agreement of 2015 and money is needed for that and this is one way of opening up the flow of capital to where it is needed most.

He says the Fijian Green Bond is mutually advantageous to both investors and the people who ultimately benefit providing both financial returns and critical assistance for vulnerable people on the ground.