(L-R) Head of GFC Mr. Mohinesh Prasad in discussion with ANZ Director of Resources, Energy & Infrastructure, Mr. James Ellerman (center); Associate Director of Resources, Energy & Infrastructure, Ms. Shira Dumba (center); and Executive Director of Institutional and Deputy Country Head PNG, Mr. Andrew Betteridge with Chief Consultant Mr. John Mayshak on screen.

September 17, 2024

Following the signing of the MoU between the Bank of Papua New Guinea (BPNG), Australia and New Zealand Banking Group Ltd (ANZ), and the Global Green Growth Institute (GGGI), ANZ will now integrate the Inclusive Green Finance Policy into its lending operations. The Green Finance Centre (GFC) held an inception meeting at ANZ’s PNG Head Office at Harbourside South, Port Moresby, to officially kickstart the project with ANZ.

ANZ, with over a century of presence in PNG, has established a strong reputation, connecting institutions and large corporate clients with trade and capital flows between PNG, Australia, and the broader Asia Pacific region. Notably, ANZ is the fourth financial institution to sign the MoU for the Inclusive Green Finance Project.

As part of the exercise, GFC and ANZ will work together to conduct a needs assessment on ANZ’s sustainable lending in PNG, followed by the development of green loans aligned with PNG’s Green Taxonomy.

Key agenda items from the meeting included:

• Introduction of the project team.
• Overview of GFC’s roles and functions.
• Timeline and work plan for developing green loan products with ANZ.
• Expectations from both sides for the project.

ANZ was represented by the Executive Director of Institutional Banking and Deputy Country Head PNG, Mr. Andrew Betteridge; Director of Resources, Energy & Infrastructure, Mr. James Ellerman; and Associate Director of Resources, Energy & Infrastructure, Ms. Shira Dumba. Representing the GFC were the Head of GFC, Mr. Mohinesh Prasad; Senior Communications Associate, Mr. Angus Moina; and Chief Consultant, Mr. John Mayshak.

ANZ expressed excitement about the journey ahead and emphasized their commitment to contributing to PNG’s sustainable finance ecosystem. They noted the mutual learning opportunity between ANZ’s global expertise in green loans and GFC’s leadership in implementing the IGF Policy. ANZ was also recently inducted into the IGFP’s Technical Working Group, where the project’s progress will be continuously discussed.

The GFC is equally thrilled to have ANZ on board!

Mr. Ellerman stressing a point during the meeting while others looking on.