Islands Business partners

23/01/2025

17/01/2025

Maria Linibi’s work supporting more than 20,000 women farmers across Papua New Guinea has been recognised through a significant global award in 2024.

Linibi is the recipient of the 2024 Women’s International Network for Disaster Risk Reduction (WIN DRR) Excellence Award, recognised for her exceptional professional success in disaster risk reduction and represent the expertise and experiences that are needed to find solutions to understanding, preventing, and reducing the increasing disaster risk in the most disaster-prone region of the world.

Linibi hails from PNG’s Highlands region,and is the daughter of a coffee farmer; as a young child, she used to help him with the crop. Now as the head of the Papua New Guinea Women in Agriculture Development Foundation (WiADF), Linibi is a champion of climate-resilient farming systems. She works across a wide spectrum of stakeholders, from traditional leaders to research institutions, to promote indigenous crops and low-cost irrigation and agroforestry systems that mitigate the impacts of drought.

And she has done this by putting the needs and solutions of women first, and working in one of the most linguistically and culturally diverse nations on the globe.

While living in Morobe Province, Linibi came to farming relatively late, at 38 years of age, after being retrenched from her government job. Her specific achievements are too numerous to list but include securing funding for the installation of solar rice mills for women farmers and the installation of solar water pumps, which provide irrigation and potable water while relieving the burden on women who previously carried 20-litre containers of water up to 20 kilometers.

Learn more @ https://t.ly/wql5N

12/01/2025

10/01/2025

In a historic occasion for the Melanesian Spearhead Group (MSG) to amplify the Pacific’s call for climate justice, the sub-regional bloc’s Secretariat had the rare privilege of joining Vanuatu, to open the momentous International Court of Justice (ICJ) Advisory Opinion on Climate Change proceedings on 2 December, 2024.

Following months of preparation of legal submission, the ICJ oral hearing commenced just a week after developing nations denounced a deal at COP29 in Baku, Azerbaijan, saying that the provision of US$300 billion a year in climate finance by 2035 was insufficient and a far cry from the suggested US$1 trillion a year.

During their joint opening submission, MSG and Vanuatu argued that countries with major greenhouse gas emissions should be held liable and recompense for the damages of climate change on countries most affected, in particular the Pacific region, home of the largest sub-region.

Melanesia boasts almost 50% of the EEZ, the largest population (86%), land mass (98%), GDP (91%) and by some accounts, close to 90% of the natural resources per se within the Pacific Islands Forum area.

MSG’s submission to the ICJ focused on climate change and its nefarious impact on customs and traditions, biodiversity, and youth and children, threatening the very livelihood of our people. Additionally, it was aligned to add value to the national submissions by MSG members, representing the collective interests of the Melanesian sub-region.

The event also marked the culmination of months of collecting harrowing testimonies from across communities in Melanesia—stories of struggle and sacrifice—in a desperate bid to survive against the harsh realities of climate change. From extreme weather events, disruption of the food system, and coastal inundation due to storm surges, abnormally high tides, and sea level rise, to the relocation of entire villages, among others, it is clear that for Melanesia and the Pacific, it is entirely a matter of survival.

Read more @ https://t.ly/3sPny

08/01/2025

Many of the region’s leaders, past and present, rose from very humble beginnings. In that respect, Catastrophe Risk Insurance Company (PCRIC) CEO, Aholotu Palu, is no different. He attributes his modest upbringing in Tonga and his family’s firsthand experience with the dramatic impact of cyclones and other natural disasters in his home country as having a profound influence on the path he has pursued in later life. Looking back, it’s not hard to understand the determination he shows today in endeavouring to ensure the island nations of the Pacific have every opportunity to build and sustain their resilience to the financial and social impacts of devastating natural and climate-induced disasters.

Educated in economics, public administration, and international development, Palu found fertile ground for developing a deep understanding of the many challenges faced by government through roles held in Tonga’s Ministry of Finance and the Prime Minister’s Office over the course of almost 20 years. Directly engaged in the complexity of some of the most pressing domestic and regional issues of the day, he leveraged the wisdom and experience of others to develop essential skills in influence and diplomacy, and learned the true value of adopting a patient, strategic approach to achieving high-conviction objectives. Little did he know at the time just how well this would augur for the position he holds today.

With formidable expertise in public policy analysis, banking and investment, public sector finance, and sovereign loan negotiations, Palu was eventually drawn to opportunities beyond Tonga. He filled positions with the World Bank Group and the German development agency GIZ before taking up a role in the Pacific Islands Forum Secretariat (PIFS). As the premier institution of advocacy on behalf of the Pacific Islands region, the time with PIFS did much to consolidate Palu’s policy and technical knowledge and connections with decision-makers throughout the region. It enabled him to develop an astute understanding of the specific context of each member nation’s needs and priorities, whilst at the same time crystallising the common threats and challenges faced. Among these, the escalating social and financial impact of increasingly frequent weather and seismic disasters resonated deeply.

Learn more @ https://t.ly/ZXghX

03/01/2025

📣🔎 🌎 JOIN THE TEAM @ SPREP 📣🔎🌎

The Secretariat of the Pacific Regional Environment Programme (SPREP) is excited to announce the following job openings for passionate and qualified individuals to join their dynamic team. For more details and to apply, please visit https://www.sprep.org/careers

(Help us spread the word by sharing this vacancies advertisement with your network! Your referral could be the perfect fit. Thank you for helping us reach as many potential applicants as possible.)

03/01/2025

From Promise to Progress: Shaping Stock Market Transformation in Fiji

Sheraj Obeyesekere, the recently appointed CEO of the South Pacific Stock Exchange (SPX), shares his insights on the Fijian stock market’s performance in 2024, the strides being made in market development, and the opportunities for regional integration.

Can you share insights into the Fijian stock market’s performance in 2024?

In terms of market returns, as of early December, the SPX Total Return Index recorded a gain of 4.63% in 2024, while the SPX Equal Weighted Total Return Index posted a gain of 8.34%. It has also been a strong year for dividend declarations by listed companies, with a total of FJD 76 million paid out to shareholders by SPX-listed companies. This marks the highest-ever total annual dividend payout by SPX-listed companies in a single year, underscoring the dedication of our companies to creating value for their shareholders. Notably, 16 out of the 20 listed companies declared dividends in 2024. These developments indicate that the Fijian stock market has provided returns to investors through both capital gains and dividends.

On the trading and capital-raising front, 2024 has been an encouraging year. The total annual trading value reached FJD 36 million as of early December, the highest annual value recorded since 2019. Similarly, the number of new investors entering the market in 2024 has been the best since the pandemic.

A breakthrough development in 2024 was the first equity listing since 2019, the listing of SUN Insurance. This marked a pivotal moment as it was the first test of investor appetite for IPOs in Fiji post-pandemic. The company’s IPO was met with a positive response from the investor community, and prior to the public offering, it successfully raised capital through private placements among institutional investors. This dual success highlighted the demand for new listings from both institutional and retail investors.

SPX-listed companies have also offered dividend reinvestment plans, to which investors have responded positively. This further illustrates the confidence shareholders have in these companies and their growth potential.

Learn more @ https://t.ly/I2w5L

30/12/2024

20/12/2024

Whats New The Suva foreshore is abuzz with excitement as the site of the MSME Festive Market this week.

13/12/2024

PRESS RELEASE!!

SSC to Review Fisheries Data and Management Strategies

The Western Pacific Regional Fishery Management Council’s Scientific and Statistical Committee (SSC) will meet Dec. 12-13, 2024, to address key issues affecting fisheries management in the Pacific Islands.

Electronic Monitoring Program Development for Western Pacific Fisheries: Electronic monitoring (EM) is a voluntary program in Western Pacific longline fisheries for the purpose of research and development. The SSC will discuss decision points the Council may take to transition EM to required monitoring. The Council is considering options for EM implementation, including whether it should be implemented as a phased-in and optional or fully mandatory program, its scope across fisheries, and how it will supplement existing logbook and human observer programs. The SSC may advise the Council on EM authorization and provide guidance on processing EM data to improve the estimation of protected species interactions in fisheries.

American Samoa Bottomfish Revision: In June 2023, the SSC recommended the Council revise the American Samoa Archipelago Fishery Ecosystem Plan to update the bottomfish management unit species list and explore a “rate-based” approach to annual catch limits for data-limited fisheries. The SSC may advise whether this flexible “Tier 6” method should apply solely to American Samoa bottomfish or be expanded to other regional fisheries.

Main Hawaiian Islands Uku Update: The Pacific Islands Fisheries Science Center (PIFSC) will present a 2024 update to the 2020 benchmark stock assessment for main Hawaiian Islands (MHI) uku, incorporating five additional years of catch, catch per unit effort and size data, along with corrections for recreational catch estimates. The updated assessment shows the fishery is healthy—not overfished and overfishing is not occurring. The SSC will review and potentially endorse recommendations from a stock assessment review panel that the assessment is the best available science for management.

Strategic Planning: The SSC will discuss progress on its strategic planning exercise, launched at the 153rd meeting in September, to shape its work and membership for the coming years. The initiative aims to address evolving fishery management challenges while enhancing the recruitment and retention of top scientists.

Learn more @ https://t.ly/xYUGn

13/12/2024

October 6, 2024 is a significant milestone for Japan, marking 70 years since its commencement of Official Development Assistance (ODA) in 1954. Over these seven decades, as a major global partner, Japan has extended its cooperation programs to 190 countries and regions, contributing to their economic and social development as well as peace and prosperity in the global community. Japan International Cooperation Agency (JICA) is responsible for administrating Japan’s ODA, offering a wide variety of cooperation programs, including finance and investment cooperation, technical cooperation, and other services including emergency aid and the dispatch of volunteers. 2024 is also special year for JICA Fiji Office, as JICA Fiji Office celebrates 40th anniversary of the establishment.

Despite the significant efforts by the international communities, many global challenges remain unresolved. Rather, issues such as Climate Change, Armed Conflict, Pandemics, Natural Disasters, Economic Crises, and other threats have become more complex and interlinked, leading to the compound crises. The international community needs to work harder and more closely than ever to overcome these compound crises.

In the PICs, Climate Change is often referred to as “The Single Greatest Threat”, and Climate Change Mitigation through promoting decarbonization is now urgently needed. Although Renewable Energy (RE) power generation such as solar photovoltaic (PV) and wind turbine are gradually deployed as a countermeasure against Climate Change, Diesel Engine Generator (DEG) is still the major source of power supply in most PICs. As these countries rely on imports for almost 100% of their fuel, they are also vulnerable to the impacts of transportation costs and price volatility, which is an energy security issue.

In response to this situation, the “Project for Introduction of Hybrid Power Generation System in the PICs” was launched by JICA in 2017 and completed in June 2023. A hybrid power generation system makes the best use of two generation technologies, namely DEG and variable RE generation such as PV system. Although DEG enables a stable power supply, fuel costs and periodical maintenance costs are more expensive, creating a considerable burden for power companies. On the other hand, variable RE generation such as PV offers low operation cost and less impact on our environment, however it does not provide a stable power supply without appropriate stability measures because their power generation fluctuates according to weather conditions.

Read more @ https://t.ly/uULl1

12/12/2024

When COP29 closed in the early hours of November 24, parties had set a goal for at least US$300 billion annually by 2035 to help fight climate change in developing countries. But this finance goal was harshly criticised, with developing nations who had sought over US$1 trillion in assistance calling the agreement “insulting” and arguing it did not give them the vital resources they required to truly address the complexities of the climate crisis. https://t.ly/eK3mk

12/12/2024

PRESS RELEASE!!

Global Development Conference 2024 concludes

The Global Development Conference (GDC) 2024 was hosted by the Global Development Network (GDN) in partnership with the Government of Fiji and The University of the South Pacific (USP) from November 26 to 28, 2024. The conference brought together climate experts, researchers, policymakers, civil society organisations, and students to engage in impactful discussions on advancing climate resilience within the local context.

This year’s conference was attended by a diverse group of over 700 participants from nearly 100 nationalities, with more than 200 attending in person and 500 joining online. Notably, 50% of the participants were women, highlighting the conference’s commitment to inclusivity and gender equity. Together, they embodied the spirit of global collaboration.

The sessions explored critical themes of climate resilience, sustainable development, and innovative adaptation strategies, with a particular focus on the unique challenges and opportunities in the Pacific region, and local solutions. These sessions were organised by GDN, USP, the International Development Research Centre (IDRC), Sasakawa Peace Foundation (SPF), and the Asian Development Bank (ADB), featuring speakers from numerous leading development organisations worldwide. Over the course of the event, workshops hosted by GlobalDev, USP, FERDI, Live & Learn International, Impact Dragonfly, and Australian Catholic University (ACU) addressed a wide range of topics aimed at enhancing climate awareness, communication, and skills development.

Read more at http://surl.li/srjrxt