Thinking Outside the Box: Deepening Private Sector Investments in Fiji’s Nationally Determined Contributions through Scenario Analysis

Jale Samuwai; Jeremy M Hills; Evanthie Michalena

doi:10.3390/su11154161

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Thinking Outside the Box: Deepening Private Sector Investments in Fiji’s Nationally Determined Contributions through Scenario Analysis

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Peer reviewed

Thinking Outside the Box: Deepening Private Sector Investments in Fiji’s Nationally Determined Contributions through Scenario Analysis

Jale Samuwai, Jeremy M Hills and Evanthie Michalena

Sustainability, Vol.11(15), 4161

2019

DOI: https://doi.org/10.3390/su11154161

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Abstract

climate change

nationally determined contributions

renewable energy

electricity sector

climate finance

private sector

Pacific Island Countries

Private finance is seen as the financing panacea for resourcing the nationally determined contributions (NDC) submitted by 170 countries to the United Nations (UN) system. Mobilizing private investment is challenging, especially for vulnerable Pacific Island Countries (PICs). Fifteen PICs have already submitted ambitious NDC targets, in which transition towards a sustainable energy environment through investment in renewable energy (RE) is central. Presently, RE investments in PICs are primarily external donor financed, however, reliance on limited and uncertain external finance is unlikely to deliver the required energy transition. A future scenario methodology was used, with Fiji as a case-study; the analysis provided insight into alternative trajectories towards transition. Based on the scenario analysis, an NDC resource mobilization framework was developed. Conclusions suggest that donors should re-orientate their priorities from investments in RE installations, towards investments that upgrade the current RE readiness levels and promote a long-term perspective of "organically growing" the local private RE sector. Channeling resources to target initiatives that will endogenously grow the domestic private sector is critical for PICs, as well as other developing countries, which represent a majority of the NDCs, and which are projected to dominate global growth in energy demand for decades to come.

Details

Title: Thinking Outside the Box: Deepening Private Sector Investments in Fiji’s Nationally Determined Contributions through Scenario Analysis
Authors: Jale Samuwai (Author) - Poly Micro Cluster, Fiji
Jeremy M Hills (Author) - University of the South Pacific, Fiji
Evanthie Michalena (Author) - University of the Sunshine Coast
Publication details: Sustainability, Vol.11(15), 4161
Publisher: MDPI AG
Date published: 2019
DOI: 10.3390/su11154161
ISSN: 2071-1050
Copyright note: Copyright © 2019 The Authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).
Organisation Unit: University of the Sunshine Coast, Queensland; Sustainability Research Cluster
Language: English
Record Identifier: 99451236102621
Output Type: Journal article

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