Fiji has launched a FJD$5.2 million (US$2.6 million) five-year plan to develop its carbon market and position the country to undertake its first international carbon trade by 2030.
The Five-Year Costed Carbon Market Plan 2026–2030 was launched by the Government on the opening day of the Pacific Pre-COP31 in Nadi.
The plan, developed by the Ministry of Environment and Climate Change in collaboration with the Ministry of Forestry and Conservation International, sets out the systems and frameworks Fiji needs to participate in international carbon markets.
Carbon markets allow verified reductions in greenhouse gas emissions to be traded, creating opportunities for Fiji to attract climate finance for projects that reduce emissions and protect natural ecosystems.
The Government said the plan could help attract new investment into renewable energy, sustainable forestry, waste management and the protection of forests, mangroves and other ecosystems.
Minister for Rural, Maritime Development and Disaster Risk Management Mosese Bulitavu said Fiji’s carbon market must deliver benefits beyond the trading of carbon.
“For Fiji, carbon markets must be about more than trading carbon. They must deliver real climate action, unlock new and sustainable sources of climate finance, and ensure that the benefits reach our communities and resource owners,” Bulitavu said.
The plan places communities and resource owners at the centre of Fiji’s carbon market development, with a focus on fair benefit-sharing, safeguards and resilient livelihoods.
The Government said the framework would prepare Fiji to access emerging sources of climate finance while ensuring communities and resource owners share in the benefits.
It has also called on development partners to support implementation of the plan.
The plan forms part of Fiji’s broader efforts to mobilise climate finance and strengthen its capacity to respond to climate change while protecting the country’s natural ecosystems.
