Individual Consultant – Training on ESG and Green Finance Implementation for Financial Institutions in Samoa

Based in Seoul, Republic of Korea, the Global Green Growth Institute (GGGI) is an intergovernmental organization founded to support and promote a model of economic growth known as "green growth", which targets key aspects of economic performance such a poverty reduction, job creation, social inclusion, and environmental sustainability. GGGI works with countries around the world, building their capacity and working collaboratively on green growth policies and projects that can impact the lives of millions. The organization partners with countries, multilateral institutions, government bodies, and private sector to help build economies that grow strongly and are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change.

The Global Green Growth Institute (GGGI), with funding from the Agence Française de Développement (AFD), is implementing the Greening the Pacific Financial Systems (GPFS) Programme. The initiative seeks to enhance the resilience and sustainability of financial systems across Pacific Island Countries (PICs) by encouraging the uptake of Environmental, Social, and Governance (ESG) principles and green finance practices. In Samoa, the Central Bank of Samoa (CBS) has prioritized finalizing and implementing ESG Guidelines for banks and insurance providers as part of a broader Sustainable Finance Roadmap.

The CBS aims to:

1. Train commercial banks and insurance providers to implement ESG Guidelines and the Principles of the Sustainable Finance Roadmap.
2. Standardize definitions and data reporting across financial institutions as a precursor to developing a national green taxonomy.