ADB Supports Interministerial Consultations on Fiji’s Draft Carbon Market Regulations

On 13 May in Suva, Fiji, Fijian line ministries convened to discuss the draft carbon market regulations to govern the country's engagement in international carbon markets, supported by ADB’s Law and Policy Reform Program. 

ADB Principal Counsel Christina Pak welcomed government stakeholders and highlighted the importance of setting appropriate ground rules on government oversight of carbon market projects taking place in Fiji, to ensure high integrity and investment certainty. ADB Principal Counsel Daniele Quaggiotto emphasized that effective intragovernmental coordination is necessary to make the regulations practically implementable and urged stakeholders to feed into this process. 

The regulations were drafted based on Fiji’s unique legal and social systems, including a well-established iTaukei system of landownership, carbon markets policy, and technical implementation readiness. The carbon market regulations will implement Part 10 of the Climate Change Act 2021 which sets out the legal framework for Fiji’s participation in carbon markets, enacted with ADB’s assistance.