Sustainable finance is not a choice. It is an imperative, said Reserve Bank of Fiji governor Ariff Ali.
And key to efforts of scaling sustainable finance, he said is to develop capacity within financial sectors, and to include gender consideration in strategic plans.
Mr Ali made the comment at the bi-annual meeting of central banks from the Pacific region and Seychelles under the Alliance for Financial Inclusion’s (AFI) Pacific Islands Regional Initiative (PIRI) Plus.
He said technical training and knowledge sharing will enhance central banks’ ability to understand what is appropriate and sustainable for our small economies; and equally vital is collaboration with international organisations, development partners, and academia.
“Recognising the unique vulnerabilities and strengths women face in the challenges of climate change is very important,” Mr Ali said at the four-day meet in Natadola last week.
“Women often bear the brunt of climate change impacts, yet continue to be under-represented in decision making processes.
“By incorporating gender considerations into our strategies, we can ensure that our responses are inclusive, robust, and truly reflective of the diverse needs of our communities.
“We require strategic partnerships and a collaborative approach to develop practical policies and guidelines, aligned to national development objectives and international best practices.”
As central bankers and policy makers, Mr Ali said the onus was on them all to ensure “we lead this positive change within the financial sectors and that we regulate”.
PIRI leaders must continue collaboration to find workable and sustainable solutions to enhance the transition to greener economies, he said.
