Port Moresby, Papua New Guinea March, 24, 2025- The Global Green Growth Institute (GGGI) is supporting the delivery of the inaugural Green Finance Summit 2025 in Port Moresby Papua New Guinea, an event that marks a key milestone in PNG’s efforts to scale up sustainable finance and strengthen climate resilience through innovative green financial instruments. 

Endorsed by the Government of Papua New Guinea and Bank of Papua New Guinea (BPNG), the summit is funded by the Agence Française de Développement (AFD), Asia Development Bank (ADB), World Bank International Finance Corporation (IFC) member of World Bank Group, and supported by  International Monetary Fund (IMF), New Zealand’s Ministry of Foreign Affairs and Trade (MFAT), United National Development Program (UNDP), United Nations Capital Development Fund (UNCDF), Hilton Port Moresby Hotels and Residences, Alliance for Financial Inclusion (AFI), and the Global Green Growth Institute (GGGI). 

As a long-standing partner to the Bank of Papua New Guinea, GGGI has supported in development of the Inclusive Green Finance Policy (IGFP), Inclusive Green Taxonomy, Sustainable Finance Roadmap and the establishment of the Green Finance Centre (GFC), which was launched on March 25, 2024, and continues to play a crucial role in implementing the Sustainable Finance Roadmap.  

Launched by the PNG Prime Minister Hon. James Marape, the IGFP is Papua New Guinea’s efforts to create an enabling environment for inclusive, low-carbon economic growth. Following this, the Green Finance Summit will serve as a timely platform for PNG to engage with regional and global stakeholders, explore innovative financial facilities, and exchange best practices. Central banks from across the South Pacific and Asia will also participate to learn from PNG’s progress and identify approaches that can be replicated locally. 

“The GFC is not only building frameworks and roadmaps- it is delivering real reforms that are positioning PNG as a regional leader in sustainable finance,” emphasized Mr. Ivan Pomaleu, the Chief Secretary to the Government of Papua New Guinea. “Let’s move beyond talking- let’s design investment pipelines, let’s de-risk finance so private investors can come in, let’s align our policies, budgets, and institutions to support climate-smart development,” he added.

“Papua New Guinea remains committed to developing strong policy frameworks that encourage green investments, providing financial incentives to scale up sustainable projects, and strengthening partnerships with regional and global institutions,” stated Ms. Elizabeth Genia, the Governor of the Bank of Papua New Guinea. “This commitment is aligned with global climate finance goals, including the Paris Agreement, the Sustainable Development Goals, and the Pacific’s regional climate resilience agenda,” she said.  

“The Green Finance Summit demonstrates what strong partnerships can achieve. GGGI is pleased to support the Government of Papua New Guinea and the Bank of Papua New Guinea in driving forward a national sustainable finance agenda that is inclusive, locally grounded, and globally connected,” emphasized Mr. Muhammad Ali Shaikh, GGGI Papua New Guinea & Solomon Islands Country Representative. “Through the Green Finance Centre and IGFP, we are laying the foundation for a resilient financial ecosystem that empowers communities, enables sustainable investment, and helps Papua New Guinea lead the region in climate action and green growth,” he added.  

A key highlight of the summit will be the Climate Finance Roundtable co-convened by the IMF, World Bank, and ADB. It will invite policymakers, development partners, international financial institutions, and private sector (international and local) investors to discuss strategic priorities for climate finance and sustainable development in PNG. The summit will also look into GFC’s 5-Year Strategy and introduce green finance instruments, including the Green Refinancing Facility (GRF) and Green Guarantee Facility (GGF). It will unveil its ongoing efforts to develop sustainable loan products, green taxonomy 2.0., and thematic bond guidelines, to foster a more robust and transparent green finance ecosystem. Lastly, the introduction of the Green Finance Leadership program will be featured. 

Through this summit, GGGI reaffirms its commitment to supporting Papua New Guinea’s sustainable finance transition by working closely with national institutions and partners to deliver practical, scalable solutions that foster climate resilience, financial inclusion, and sustainable development.  

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For more information, visit:  https://gggi.org 

Kelly Daniel Vacala, Communications and Knowledge Sharing Officer, GGGI Pacific  

kelly.vacala@gggi.org   

Na Yoon Kang, Communication and Knowledge Sharing Senior Assistant, GGGI HQ
nayoon.kang@gggi.org