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WORLD BANK(WB) has floated a tender for Papua New Guinea Inclusive Green Finance Taxonomy - Sector Prioritization Consultancy. The project location is Papua New Guinea and the tender is closing on 14 Oct 2024. The tender notice number is 0002011735, while the TOT Ref Number is 108320684. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.
Procurement Summary
Country : Papua New Guinea
Summary : Papua New Guinea Inclusive Green Finance Taxonomy - Sector Prioritization Consultancy
Deadline : 14 Oct 2024
Other Information
Notice Type : Tender
TOT Ref.No.: 108320684
Document Ref. No. : 0002011735
Competition : ICB
Financier : World Bank (WB)
Purchaser Ownership : Public
Tender Value : Refer Document
Purchaser's Detail
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Login to see detailsTender Details
PNGaims to reduce GHG emissions by 50% by 2030 and achieve carbon neutrality by2050. Currently, most green capitalcomes from public and donor finances, with minimal private contributions. Thisputs considerable pressure on fiscal resources and validates the need tomobilize sustainable long-term private sector capital. If trends align withASEAN expectations, the public-sector financing share is expected to drop toabout 40% by 2030, placing more urgency on raising private sectorcontributions.Under the Inclusive Green Finance Project (IGFP), The Bank of PapuaNew Guinea (BPNG) has released an Inclusive Green Finance Policy (IGF Policy)and has already begun implementing the policy across a pilot set of financialinstitutions, through the Green Finance Centre (GFC). There is an appetiteamong the financial sector, its regulator and from climate-focused governmentagencies to transition towards developing new green products. The IGF Policy includes (i) a diagnostic report on PNG-s financial landscape, (ii) a first version of the inclusive green taxonomy (the ‘Green Taxonomy-)which classifies and supports promotion of financial flows towards sustainableeconomic activities and (iii) an implementation roadmap to promote greenfinance. BPNG established the GFC who isresponsible for implementing the policy and the roadmap. As part of theroadmap, there is a need to further develop the Green Taxonomy and create abetter understanding and guidance on what qualifies as green finance.Awell-defined and structured taxonomy will support better-informed, moreefficient decision making, by clearly defining green assets. By doing so, newgreen investments will be able to contribute to achieving nationalenvironmental objectives. A green finance taxonomy can help financial actorsand others determine which investments can be labeled “green” for theirjurisdictions, thereby informing FIs' green financing frameworks in selection, underwriting, decision-making and disbursement.Alignedwith the ongoing work...
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Procurement Documents for Papua New Guinea
Access a comprehensive library of standard procurement documents specific to Papua New Guinea. Here, you'll find all the essential forms, guidelines, and templates required for tender applications and submissions in Papua New Guinea
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