New Zealand commits K2.4m to support climate change efforts in PNG

The New Zealand government has committed US670,000 dollars (about K2.4 million) to the Climate Change Development Authority to help address climate change risks in Papua New Guinea.

Climate Change minister Simon Watts, who is part of the New Zealand government’s delegation led by Deputy Prime Minister Winston Peters to Port Moresby this week, made this known yesterday when meeting PNG CCDA heads and the Central Bank.

The K2.4m funding support will assist CCDA and other key stakeholders working in the climate change space to tackle some of the key concerns such as mitigation and adaptation.

CCDA acting managing director Deborah Sungi said funding from the PNG government and other donor agencies over the past years was not sufficient to conquer this global challenge in the country.

“With all these commitments, we need finance to implement them,” Sungi said

With New Zealand committed to combating this ongoing battle in PNG, Sungi is certain that this pivotal financial assistance will be utilized to meet some of its key priorities.

She reiterated that the funds made available were purposely for climate change efforts and will be parked under the Green Finance Centre currently housed by the Central Bank.

Bank of PNG assistant governor George Awap said green finance was a new initiative in the country and was grateful to the New Zealand government for the support.

“Implementation is usually the most difficult aspect of any project,” Awap said.

“There are some basic projects so you have the experience to ride those projects

“But the area of green finance is a new initiative.

“Together with other existing institutions like CCDA would help develop these policies and processes so that we can realize something.”

Awap said BPNG in collaboration with CCDA and the New Zealand government is hoping to further develop this relation to strengthen its course in minimising climate change risks locally.