Australia’s Papua New Guinea has taken a step towards boosting climate investment, outlining a roadmap to increase green finance and support more resilient economic growth.
The Climate Investment Validation Workshop, led by the Climate Change and Development Authority (CCDA), in partnership with the Global Green Growth Institute (GGGI) brought together government officials, private sector representatives, state-owned enterprises and development partners to identify barriers to investment and propose solutions.
Discussions focused on regulatory, institutional and market constraints limiting investment, as well as identifying bankable projects and policy reforms to attract finance.
Participants also endorsed measures to reduce investment risk and improve project readiness, with a focus on aligning proposals with national development priorities.
The initiative forms part of broader cooperation between Papua New Guinea and Australia on climate and development, including through Australia’s Climate FIRST program, which supports PNG’s efforts to strengthen its capacity to respond to climate risks and access funding.
The workshop further proposed a roadmap for advancing climate finance including climate investment risk mitigation strategy and improved project concepts that aligned with national priorities.
This initiative highlighted the shared commitment between Papua New Guinea and Australia to support resilient, inclusive, and sustainable development, led and informed by PNG voices.
The Climate FIRST is Australia’s flagship climate resilience program in PNG, supporting the Government of PNG and its institutions and systems to respond effectively to climate risks by increasing access to global and domestic funding sources.
The Climate Investment Validation Workshop aligns with the program’s objectives by strengthening bilaterial cooperation between Australia and PNG on shared climate priorities.
CCDA Acting Managing Director Kenneth Wangoro said investor confidence remained a key challenge.
“Investors need confidence in policies, regulatory frameworks and project pipelines,” Mr Wangoro said.
“This work provides an evidence-based assessment of the barriers affecting investment and will help guide future reforms.”
GGGI Country Representative Muhammad Ali Shaikh said stakeholder input had been critical in shaping the findings.
“This process has involved extensive consultation across Papua New Guinea,” Mr Shaikh said.
“The focus now is on ensuring the recommendations are practical and can be implemented.
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Participants - The Climate Investment Validation Workshop.
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