Empowering Sustainable Transport in Papua New Guinea: The Green Finance Centre’s Role in Electric Mobility Transition
August 29, 2024
The Green Finance Centre (GFC) is leading the way in driving sustainable change in Papua New Guinea (PNG) as it plays a critical role in the recent 2nd Technical Working Committee (TWC) meeting held at the Lamana Hotel in Port Moresby. The event, part of the Green Climate Fund’s (GCF) Readiness Project, focused on advancing electric mobility across PNG, a key component in meeting the country’s emission reduction goals in the transport sector.
Organized by the Global Green Growth Institute (GGGI), in partnership with the Climate Change & Development Authority (CCDA) and the Department of Transport, the two-day workshop brought together key stakeholders, including government officials, private sector leaders, non-governmental organizations (NGOs), and civil society groups. The goal was to enhance the capacity of the TWC to lead and support electric mobility initiatives throughout the country, with a focus on three main objectives: expanding knowledge, building capacity, and providing strategic input for the transition to sustainable transport solutions.
The workshop featured a range of dynamic activities, including presentations, group exercises, and training sessions, all designed to explore the challenges and opportunities of electric mobility in PNG’s transport sector. With the Green Climate Fund as the main funding partner, the event reinforced the global commitment to reducing greenhouse gas (GHG) emissions and promoting cleaner, greener transportation solutions in PNG.
A highlight of the workshop was the presentation by Mr. Mohinesh Prasad, Head of the Green Finance Centre, who emphasized the GFC’s pivotal role in accelerating the green transformation of PNG’s transport sector. In his remarks, Mr. Prasad shared crucial insights on the emerging risks posed by climate change to PNG’s financial ecosystem, as well as the gaps in the financial landscape that must be addressed to support a green transition.
“Supporting sustainable transport solutions requires targeted green finance policies, which is why we’re working with the government to build the financial frameworks necessary for PNG’s green transformation,” said Mr. Prasad. “Our focus is on creating green finance mechanisms that can help carbon-neutralize transport across all sectors—land, sea, and air—and we’re committed to promoting the technologies that will reshape PNG’s infrastructure for a more sustainable and resilient future.”
Mr. Prasad also highlighted the role of the Inclusive Green Finance Policy (IGFP) and the significant steps taken by the GFC in advancing green finance in PNG. The establishment of the GFC as a leading entity in green finance is a testament to PNG’s commitment to sustainability and is a cornerstone of the country’s green economy strategy.
The workshop also underscored the shared vision between the Bank of PNG, the GFC, and the private sector in promoting electric mobility as a central element of PNG’s broader green agenda. The introduction of electric vehicles (EVs) into PNG, led by Niugini Automobiles, marks an important milestone in the country’s transition to greener transport.
Looking ahead, the workshop laid the foundation for the development of key frameworks and strategic documents, including the Electric Vehicle (EV) Policy Framework, the Investment and Implementation Plan, and the National EV Communication Strategy. These documents will guide the implementation of electric mobility initiatives and play a critical role in shaping PNG’s sustainable transport future.
As the Green Finance Centre continues to drive change, it is proving that green finance is essential in building a more sustainable and resilient future for PNG. Through its dedication to promoting clean transport solutions and fostering partnerships with government agencies, the private sector, and other key stakeholders, the GFC is helping to pave the way for a cleaner, greener PNG.
The Green Finance Centre’s commitment to advancing green growth is more than just a vision—it’s about making that vision a reality, one sustainable step at a time.
