Reference:

https://www.oecd-ilibrary.org/sites/54c8d06f-en/index.html?itemId=/content/component/54c8d06f-en#section-d1e10068-f5e659a2d3

https://fijiclimatechangeportal.gov.fj/wp-content/uploads/2022/05/Fijis-National-Climate-Finance-Strategy.pdf

Question 1

Please use the information below and draw a pie chart of that information.

In November 2017, Fiji became the first developing country in the world to issue a green bond. Fiji is increasingly recognised as a global climate advocacy leader and a pioneer of innovative public finance instruments to support its sustainability commitments. It issued its first sovereign green bond in 2017, which totalled FJD100million (about USD46.2 million). Its first tranche drew unprecedented demand from investors and was oversubscribed by more than double that amount; all bond issuances were oversubscribed (Ministry of Economy, 2019[7]). Approximately USD75.4 million worth of bids were submitted and bonds were split into two tenors: 5years at 4% coupon and 13years at 6.3% coupon (Ministry of Economy, 2019[7]). The bond created a new way to mobilise finance for climate-resilient development. It also generated a market for private capital investors seeking opportunities that support climate resilience and adaptation. The green bond also tapped into a growing global market; internationally, issuance of green, social, sustainability and sustainability-linked bonds reached USD600 billion in 2020 (Environmental Finance, 2021[8]). However, without any credit enhancement, the green bond was more expensive for Fiji than a conventional issuance. The international development co-operation supported Fiji's green bond through technical assistance.

Question 2

Please use the information below and draw a pie chart of that information.

Foreign direct investment (FDI) is volatile and concentrated in few sectors. Foreign investments in SIDS are low and often weigh lightly on their overall external financing. In Fiji, FDI flows represent a large portion of external finance (Figure5.2). However, FDI remain half of the average figure for ASEAN (USD469million for Fiji and at 3.2% of average GDP for the region pre-pandemic in 2018). Australia accounted for the bigger share of FDI in Fiji (49%) in 2019 (IMF, 2021[10]). However, Fiji's FDI is volatile and mostly concentrated on high-end tourism, followed by the financial sector and manufacturing. Under the 1999 Investment Act, foreign investors interested in doing business in Fiji must apply for a Foreign Investment Registration Certificate.2 Additionally, foreign investors must ensure that investment activity does not fall under the reserved and restricted activities, i.e.activities reserved for Fiji citizens. The new Investment Act, published on 3June 2021, replaces the Foreign Investment Act of 1999. It introduces a broader range of treatment and protection guarantees for foreign investors. It also removes the requirement to apply for a Foreign Investor Registration Certificate and imposes the same reporting obligations on foreign and local investors (UNCTAD, 2021[11]).

Question 3 Please use the information that is below and draw a pie chart of that information.

Table 5.2. Environment and climate adaptation levy (ECAL)
FJD by levy source in 2018
	Aug-Oct Q1	Nov-Jan Q2	Feb-Apr Q3	Year to date Aug-Apr
10% ECAL on prescribed services	45546742	38228997	26595732	110371472
10% tax on imports of luxury vehicles with engine capacity exceeding 3000cc	46202	40516	40278	126997
20 cents levy on plastic bags	1699874	2027802	1799736	5527412
Miscellaneous - inclusive of 10% ECAL on super yachts	323159	40000	-	363159
10% income tax on chargeable income of more than FJD270000	963329	1390507	966376	3320212