Papua New Guinea workshop boosts understanding of green finance standards

The Bank of Papua New Guinea (BPNG), through its Green Finance Centre (GFC), recently collaborated with the International Finance Corporation (IFC) to conduct a capacity-building workshop in Port Moresby. The initiative aims to deepen industry understanding of Papua New Guinea's Inclusive Green Finance Taxonomy, a crucial step ahead of the Green Finance Summit scheduled for 2026.

The workshop served as a vital platform for knowledge exchange, significantly strengthening industry comprehension of the BPNG's Standards for Green Loan Classification and Reporting. These standards are closely aligned with the nation's Inclusive Green Finance Taxonomy. Additionally, participants gained insights into the Environmental and Social Risk Management (ESRM) Guidelines.

This collaborative effort underscores Papua New Guinea's commitment to advancing sustainable finance practices. By enhancing understanding of these critical frameworks, the BPNG and IFC are equipping local industries with the necessary tools and knowledge to navigate the evolving landscape of green finance. The preparations are geared towards ensuring a successful Green Finance Summit in 2026, fostering a more environmentally conscious financial sector within the country.