May 1, 2024

The Third Inception Meeting: The BSP Financial Group Limited and the Green Finance Centre (GFC) met yesterday afternoon (1 May 2024) at BSP’s PNG Head office in Central Waigani, Port Moresby for an inception meeting.

The BSP Group is the largest commercial bank in PNG with 121 branches throughout the country and offices in 7 countries across the Pacific region and was also one of the three financial institutions that signed the Memorandum of Understanding during the Green Finance Centre Launch agreeing to partner with the Bank of Papua New Guinea and the GGGI Papua New Guinea in the implementation of the Inclusive Green Finance Policy (IGFP).

Similar to the previous two inception meetings the following agendas were covered during the meeting:

• Overview and core functions of GFC.
• Green Taxonomy as part of the IGFP.
• Timeline and next steps to develop green loan products for BSP.

Sitting in the meeting on behalf of the BSP Group was their senior leadership team Chief Financial Officer Mr. Ronesh Dayal, Manager ESG Strategy Office Finance and Planning Mr. Methuselah Eka Wabiria, Chief Risk Officer Mr. Michael Hallinan (dialling in), Head of Strategy and Investor Relations Mr. Paul Lee-Bernstein (dialling in). From the Green Finance Centre’s end was Head of the GFC Mr. Mohinesh Prasad and Senior Communication Associate Mr. Angus Moina and IGFP Implementation Roadmap Chief Consultant Mr. John Mayshak. Also attending the meeting was BPNG Assistant Governor Mr. George Awap and Centre for Excellence in Financial Inclusion Executive Director Mr. Saliya Ranasinghe (dialling in).

The BSP Group expressed their willingness to participate in this endeavor of greening PNG’s financial sector and appointed their champion for the initiative.