27 June, 2023

Hi and welcome to this week’s JMP Report

Last week saw 4 stocks trade on the local market. BSP traded 6,061, closing steady at K12.80. STO traded 341, closing 1t higher at K19.11. KAM traded 118,874, closing steady at K0.85 per share and NCM traded 70 shares, closing steady at K75.00.

WEEKLY MARKET REPORT | 20 June, 2023 – 24 June, 2023

BSP 6,061 12.80 0.00 K1.4000 13.53 THUR 9 MAR 2023 FRI 10 MAR 2023 FRI 21 APR 2023 NO 5,317,971,001
 KSL 0 2.40 0.00 K0.1610 9.93 FRI 3 MAR 2023 MON 6 MAR 2023 TUE 11 APR 2023 NO 64,817,259
STO 341 19.11 0.01 0.05 K0.5310 2.96 MON 27 FEB 2023 TUE 28 FEB 2023 WED 29 MAR 2023 YES
KAM  118,874 0.85 0.00 YES 49,891,306
NCM  70 75.00 0.00 USD$1.23 FRI 24 FEB 2023 MON 27 FEB 23 THU 30 MAR 23 YES 33,774,150
NGP 0 0.69 0.00 32,123,490
CCP 0 2.00 0.00 K0.225 6.19 FRI 24 MAR 2023 WED 29 MAR 2023 FRI 5 MAY 2023 YES 569,672,964
CPL 0 0.80 0.00 K0.05
WED 22 MAR 2023 THUR 30 MAR 2023 THU 30 JUL 2023 195,964,015

Dual listed stock PNGX/ASX

BFL – 4.93 +7c

KSL – 745c steady

NCM – 25.88 -46c

STO – 7.30 -29c


Our Order book has us as nett buyers BSP, STO and nett sellers CPL CCP and KSL.


Other Asset Classes

Gold 1,934 +.25%

Silver – 22.53 +.79%

Platinum – 920

Bitcoin – 30445 +15.41 -7d

Ethereum – 1898 +10.3 – 7d

Gold Pax – 1906 -1.07% – 7d


Interest Rates

On the interest rate front, we are starting to see the short end reflect a possible change in Monetary Policy with the volume of the Central Bank Bill market being in the 7 day area with yields averaging 2.22% and the bank accepting 204mill, leaving the market with 19mill unplaced.

In the TBill auction, the Bank issued stock into the 364day market only, accepting 151mill bids at an average of 2.99% and left 50 mill unplaced. In the GIS auction, the rates are continuing to reflect the need to have funds invested reflecting more aggression in the shorter end with waning interest in the longer end at sub 6% rates. I have attached the GIS results for your reference.


What we’ve been reading this week

India’s G20 Presidency: An Opportunity to Steer the World Toward Inclusive and Sustainable Growth


As a leading development partner of India, ADB is supporting India’s G20 Presidency on these key priorities: supporting cities as engines of economic growth, clean energy transition, and shaping a global health agenda.


  • India’s theme for its G20 Presidency, “Vasudhaiva Kutumbakam” (One Earth – One Family – One Future) is aiming to build unanimity to address global challenges collectively and effectively.
  • As a leading development partner of India, ADB is supporting India’s G20 Presidency on its key priorities: supporting cities as engines of economic growth, clean energy transition, and shaping a global health agenda.
  • India has an important opportunity during its G20 Presidency to establish a legacy of success across these critical challenges and it has friends that it can rely on for support.

India’s G20 Presidency this year presents an exceptional opportunity for the country to spearhead a collective approach to tackle multiple, complex, and interconnected challenges, while placing, front and center, the aspirations and needs of the developing world.

The COVID-19 pandemic, supply chain disruptions, climate change, food and energy security risks, geopolitical tensions, inflation, and a looming debt crisis all contribute to economic slowdown and uncertainty in global economic growth.

India has set “Vasudhaiva Kutumbakam” or “One Earth – One Family – One Future” as the theme for its G20 Presidency, rightly aiming to instill a sense of unanimity essential for addressing these global challenges collectively and effectively. Prime Minister Narendra Modi further envisions India’s G20 agenda to be “inclusive, ambitious, action-oriented, and decisive.” India’s successes and experiences are critical to tailoring global solutions. 

India’s G20 priorities

India has identified a wide array of cutting-edge priorities that are being deliberated by various G20 working groups, to help address the key challenges we face and to plan for a better future. Let me highlight three of them.

The first agenda relates to financing tomorrow’s cities and establishing them as the foremost engines of economic growth. While cities generate over 80% of global gross domestic product, unplanned and rapid urbanization constrain their economic potential. It is estimated that by 2050, nearly twice as many people will live in cities. To sustain their economic potential, cities need to become more livable through upgraded infrastructure and services, such as reliable water, transport, power, waste management, and affordable housing.

Cities must also be nurtured as hubs for entrepreneurship, jobs, and skill development. This requires massive investments in smart, sustainable, and resilient urban infrastructure. Globally, roughly $5.5 trillion needs to be invested in urban infrastructure annually over the next 15 years. The private sector is an important partner in these needed investments. The G20 platform could be used to mobilize international support to bridge this financing need.

The second agenda where India can lead the way is in energy transition. Enabling an orderly and just transition from carbon-intensive energy to renewable energy would not only help combat climate change, but also help bolster energy security, raise economic productivity and create jobs, improve environmental outcomes, and prune health costs. In other words, decarbonization is development.

Today, India is the world’s third-largest producer of renewable energy, with further expansion underway. India’s success in scaling up solar energy, along with recently announced programs such as the National Hydrogen Mission, Production-Linked Incentives for electric vehicles and the manufacture of solar technologies and battery energy storage, and incentive mechanisms for supporting offshore wind, all allow the country to lead by example and drive global collaboration to reduce the cost of achieving net-zero emission.

India has made efforts for the G20 to focus on the need to expand and diversify critical minerals and renewable energy supply chains for economies to secure uninterrupted and affordable access to renewable energy and energy storage, both prerequisites for the overall transition to net-zero emission.

The third agenda relates to health care. The COVID-19 pandemic highlighted the compelling need for a united global approach to fortify health systems to effectively address emerging health crises. India’s G20 Presidency is a medium of change towards more resilient, responsive, and sustainable health systems and to advance previously established G20 pandemic preparedness efforts.

G20 can help shape a global health agenda focused on ensuring universal, affordable, and quality health services. Giving priority to enhancing health emergency prevention and preparedness (with focus on One Health and linkages between climate change and health), strengthening cooperation in the pharmaceutical sector, and leveraging digital health innovations and solutions to aid universal health coverage, is critical.   India can lend its experience in framing a successful national digital health architecture through supportive regulatory environment, private-public partnerships, and digital health interventions such as CoWIN and National Digital Health Mission.

ADB’s support for India’s G20 presidency

 As a leading development partner of India, the Asian Development Bank (ADB) is supporting India’s G20 Presidency on these key priorities. To transform Indian cities into “Cities of Tomorrow”, ADB will assist in “Creating Investable Cities” that can mainstream climate resilience; leverage mobilization of resources such as municipal bonds, innovative climate finance, and new sources of revenue through appropriate urban planning and transit-oriented development; and mobilize much-needed private sector investments.

ADB is mainstreaming just energy transition within all of its operations. It will work with the government and large financial intermediaries in establishing pools of low-cost finance to fund residential solar rooftop, electric vehicles, and energy storage investments. In partnership with the International Solar Alliance, ADB is supporting the government in developing a virtual Centre of Excellence on Green Hydrogen.

ADB is discussing the development of a Climate and Health Hub (CHH) to galvanize local, regional, and global climate and health actions under India’s G20 Presidency. ADB supports the G20 Presidency’s Global Initiative on Digital Health and in transforming the National Centre for Disease Control into a Regional centre for Disease Control with global reach.

India has an important opportunity during its G20 Presidency to establish a legacy of success across these critical challenges and it has friends that it can rely on for support.

This article was written by Takeo Konishi, Country Director, India Resident Mission, ADB


Japan earmarks $107 billion for developing hydrogen energy to cut emissions, stabilize supplies

Japan emissions

The Suiso Frontier, a liquefied hydrogen carrier, is berthed in Otaru, northern Japan, on April 14, 2023. Japan’s government on Tuesday, June 6, 2023, adopted a revision to the country’s plans to use more hydrogen as fuel as part of the effort to reduce carbon emissions. Credit: AP/Hiro Komae

By The Associated Press Updated June 6, 2023 4:55 am

TOKYO — Japan’s government on Tuesday adopted a revision to the country’s plans to use more hydrogen as fuel as part of the effort to reduce carbon emissions.

The plan sets an ambitious target to increase the annual supply by six times from the current level to 12 million tons by 2040. It also pledges 15 trillion yen ($107 billion) in funding from both private and public sources to build up hydrogen-related supply chains over the next 15 years.

Japan’s decarbonization strategy centers on using so-called clean coal, hydrogen and nuclear energy to bridge its transition to renewable energy. Russia’s war on Ukraine has deepened concerns over energy security and complicated that effort, but other advanced Western nations are pushing for faster adoption of renewable energy, such as solar, wind and geothermal.

So far, Japan is relying on hydrogen mainly produced using fossil fuels.

Some experts say strategies like commercializing the use of hydrogen and ammonia mainly cater to big business interests and major industries that are heavily invested in fossil fuel-based technologies and have power over the government policies.

The revised plan prioritizes nine strategic areas, including development of water electrolysis equipment, fuel storage batteries and large-size tankers for transporting hydrogen.

“Hydrogen is an industrial sector that can make a triple achievement of decarbonization, stable energy supply and economic growth in one shot,” Chief Cabinet Secretary Hirokazu Matsuno said at the Cabinet meeting Tuesday. “We will promote (hydrogen) on a large scale, both demand and supply.”

Japan’s Chief Cabinet Secretary Hirokazu Matsuno speaks at a press conference in Tokyo Tuesday, June 6, 2023. Japan’s government has adopted a revision to the country’s plans to use more hydrogen as fuel, setting an ambitious target to spend $107 billion and increase the annual supply by six times from the current level to 12 million tons by 2040. Credit: AP

Japan’s leaders say they want to turn the country into a “hydrogen society,” but the hydrogen industry is still in its initial stages. The government is still drafting legislation to support building necessary infrastructure and supply chains for commercial use of pure hydrogen and ammonia, another source of hydrogen.

At a hydrogen council meeting with industrial leaders last week, Prime Minister Fumio Kishida said Japan aims to achieve an “ Asian zero-emission community,” contributing Japanese technology in hydrogen, ammonia and other decarbonization technologies.

“By setting an ambitious goal we aim to make our plans more predictable and encourage long-term investment in developing a large-scale hydrogen supply and demand,” Kishida said.

The Cabinet also approved an annual energy report saying that economic sanctions against Russia for its war on Ukraine have increased long-term competition for liquefied natural gas, forecasting that shortages could persist through 2025. European demand for LNG as an alternative to Russian natural gas has pushed LNG prices higher, making it necessary to draw up a long-term strategy for securing stable energy supplies.

Japan’s Chief Cabinet Secretary Hirokazu Matsuno speaks at a press conference in Tokyo Tuesday, June 6, 2023. Japan’s government has adopted a revision to the country’s plans to use more hydrogen as fuel, setting an ambitious target to spend $107 billion and increase the annual supply by six times from the current level to 12 million tons by 2040. Credit: AP

Japan adopted a so-called “green transformation” plan in February that calls for promotion of next-generation solar batteries, offshore wind power and renewed use of nuclear energy.

Some experts say strategies like commercializing the use of hydrogen and ammonia mainly cater to big business interests and major industries that are heavily invested in fossil fuel-based technologies and have power over the government policies.

Carbon Credits Explained (2023 Guide)

By Jennifer L

Net Zero and Carbon Neutral Concepts Net Zero Emissions Goals Weather neutral long-term strategy.

As the world continues to experience out-of-this-world disasters, polluters are under more fire to help clean up the planet-warming carbon they dump into the air. As they do that, more people are asking what carbon credits are, how they work, and what role they’ve got in fighting the climate crisis. 

Many believe that they are instrumental in promoting both corporate sustainability and global sustainable development. 

Others think that carbon credits can help companies meet their climate goals by reducing emissions and advancing sustainable business practices.

Yet, some consider them as a greenwashing tool for some reason…

…But many more find them an essential market mechanism to help reverse the effects of climate change. 

Regardless of the different views on carbon credits, getting them explained in this article will help clarify things and answer your most pertinent questions about them. 

What are Carbon Credits?

The idea behind carbon credits is to put a price on carbon emissions. The goal? To incentivize emitters to pollute less, ideally. 

In essence, carbon credits serve as permits to emit a certain amount of carbon. These permits are tradable in carbon markets. These markets turn CO2 emissions into a commodity by giving them a price.

International carbon trading markets have been around since the 1997 Kyoto Protocols. But the new regional markets have prompted a surge of investment.

The world has seen billions of metric tons (Mt) of CO2 pumped into the air every year. In 2022, around 41 billion Mt of greenhouse gasses were emitted, up from 36 billion Mt in 2016. These gasses are the ones to blame for the earth’s rising temperatures. 

So, if we want to stop the planet from heating up more, we need some solutions up our sleeves. And yes, carbon credits are one of them. But how do they work in fighting climate change?

How Do Carbon Credits Work?

One carbon credit represents one tonne of CO2 or its equivalent (CO2e) gas that an organization can emit. 

It’s important at this point to say that carbon credits are often referred to as carbon offsets. While they’re very similar, they’re not the same. 

Carbon credits, also known as carbon allowances, work like permission slips for emissions. You can think of them as a unit of measurement for CO2e emissions that have a tradable element. 

The number of credits issued to a company corresponds to its emissions limit or “cap” set by a regulatory body. So, they’re also called a “cap and trade” system. 

If that company doesn’t go above its cap, then it will have excess carbon credits which they can sell in the compliance carbon market regulated by the government. But if the company goes beyond the limit, it can turn to the carbon market to buy the required carbon credits.

In short, the governing organization creates carbon credits and allocates them to individual companies within that jurisdiction. Over-emitters buy carbon credits from under-emitters.

On the other hand, carbon offsets (also called carbon offset credits) are from projects or initiatives that reduce or remove carbon emissions. 

Carbon reduction projects generally fall into two types: nature-based and technology-based. 

Nature-based solutions usually include reforestation and wetland restoration projects. They naturally sequester carbon in the environment. 

Technology-based projects often involve investments in new technologies that increase efficiencies or reduce emissions like renewable energy projects.

Once an offset is generated, the organization that develops or completes the project can retain the offsets or trade them on a voluntary carbon market (VCM). 

Other companies can then buy the offsets to compensate for their own carbon footprint.

To fully distinguish the two terms, keep these keywords in mind – compliance for carbon credits and voluntary for carbon offsets.

In a compliance market, companies regulated by the government must abide by their limits or cap. Within the voluntary market, the idea is just the same. It’s just that companies do the offsetting voluntarily, either as part of their ESG goals or because of shareholders’ pressure

Who Are The Biggest Buyers Of Carbon Credits?

Carbon-intensive sectors such as energy face a harder quest to net zero emissions than others. That’s no surprise because companies in this sector simply can’t just instantly reduce their reliance on fossil fuels.

This is why the biggest buyers of carbon credits were from the energy sector, as well as from the finance, technology and consumer goods sectors. The Ecosystem Marketplace (EM) keeps track of these companies and how much credits they’re buying.

In another analysis, researchers found that at least 36% of large companies buy carbon credits voluntarily to offset their footprint. The analyzed companies include the world’s biggest and top S&P 500 businesses. 

The findings revealed that Microsoft, Salesforce, Goldman Sachs, Disney, and Nike, among others are the top buyers. 

The projects that those companies bought credits mainly generated in the global south. These projects often involved: 

  • Forestry projects, 
  • Renewable energy, 
  • Household and community projects

In a broader analysis by EM, which included carbon project developers and investors, they found that the most popular projects producing carbon offsets are forest and renewable energy initiatives.

In separate Bloomberg analysis of data from Verra, the largest buyers of voluntary carbon credits are cryptos, airlines, and carmakers. The analysis covers only about 50% of the global carbon market in 2021 as data is voluntarily disclosed. 


On the sellers’ side, in case you don’t know it yet, Tesla is the largest seller of carbon credits under the California cap-and-trade system. The company had earned billions of dollars from it.

Last year, Tesla’s total carbon credit sales reached a record $1.78 billion. All thanks to the carmaker’s hundreds of thousands of sold EVs. 

Now you might be wondering why Tesla earned that much from selling carbon credits. So your next question would be how much does each credit worth?

How Much Is A Carbon Credit Worth?

Same with other commodities, there’s no single price for a carbon credit. 

The cost varies. A lot. Even so in the VCM. 

The cost of carbon offsets depends on various things, including project quality, issuance year, verifiability, additional benefits created and so on. For live VCM carbon pricing, please go here.

Let’s consider the project type. Common carbon offsetting projects are forestry and nature conservation, waste-to-energy, and renewable energy. Some of these projects can be worth below $1 per tonne of carbon offset, while others can cost over $40.

For a clearer explanation, take for example you opt to have a forest tree planting initiative. 

If a tree can store about 5 tonnes of carbon and each tonne of carbon removed is valued at $15, you’ll generate $75/tree. Assuming the cost of carbon increases, then your revenue goes up, too.  

Sounds pretty good in theory, right? But in real life, that could even be better, especially the figures. 

Several farmers have been receiving over $100,000 in yearly income by letting their lands sequester over 7,000 tonnes of CO2. Boston-based Indigo Ag has been paying their partner farmers that amount and more, depending on how much carbon their farms remove.

Looking at the entire market, the VCM was valued at $2 billion in 2022 alone. It may be quite huge for some market outsiders, but for insiders that’s rather not surprising. 

That’s because more and more companies and organizations are expected to reveal their net zero pledges. And as mentioned earlier, over a third of the large businesses are using carbon credits as offsets. 

For a better picture of how huge the market could get, take a look at the projection below.

That estimation is conventional and other market analysts predict even higher demand growth. 

So how could you leverage this exponential carbon market growth? You might be asking how you can invest in carbon credits, earn profits, or simply help in the climate change fight. 

We’ll explain the steps involved in the next sections. Let’s first help you out on how to buy carbon credits step-by-step.

How To Buy Carbon Credits

Buying carbon credits may not be as simple as selling them. But after you’ve known the criteria for a successful purchase, the following steps won’t be hard. 

#1. Buy directly from project developers

This is the most direct way to get the credits you need – at the source. That’s from the project developers themselves. Here are the top five options that have the highest ranks.

You can either directly invest in the project as it’s being developed (lowest cost but longest time to wait until delivery) or you can contract for delivery (lower than market price but still have to wait for some time).

#2. Buy from a broker

If you want to skip all the work needed when contracting with the developer, look for a broker. Yes, carbon credits have brokers, too.

They make it easier for you and other buyers to find the credits you need. Plus, the best ones can give you an analysis of the project where those credits are from. 

This is perhaps the most practical way to buy carbon credits, more so if you need a lot of them. The purchasing process doesn’t include long contracts but, of course, you guess it right – it comes with a price. So, you may have to pay more for the broker’s services. 

#3. Purchase from a retailer

If you’re still wondering how to buy carbon credits if you only need a smaller volume, then going for a retailer might help. In fact, this option may also be the fastest way to get the credits.

Most often, retailers have an account on a carbon registry, allowing them to retire the credits on your behalf. But ensure that after paying the retailer, you get the rights to the credits. 

#4. Purchase from an exchange

Finally, you can buy carbon offset credits from a carbon exchange. Doing so will also allow you to earn profits from trading them.

There are plenty of carbon exchanges but here are the top trading platforms worth exploring. They usually work with carbon registries to facilitate their trading transactions.

Sourcing the credits from an exchange can be quick and easy. But it may also be more difficult to access enough information about the credits’ quality. 

So, there you have it. You’ve got four ways on how to buy carbon credits. Here’s a much more comprehensive guide on how to do that. And here’s the checklist you should keep in mind as a buyer. 

Now, if you’re more into selling the credits or planning to sell them and get paid, here are the ways to do that.

How To Sell and Get Paid for Carbon Credits

The fastest way to sell these credits is through an online carbon exchange. There are many within the U.S. and globally that allow sellers to get paid for their offsets. 

Carbon exchanges are pretty much similar as to how various regular stock exchanges operate. Selling or trading through them follows this general rule: buy low, sell high.

One quick tip though – quality carbon credits sell higher. So, it’s best if the offset credits you sell follow the standards set by the top carbon registries. 

Next, if you’re a land owner or farmer, you need to secure the documents showing that you own the land, along with all the details describing your land. You must also have the papers documenting the land management practices you perform. This is crucial for the buyers and as proof that your land captures the amount of carbon you declare.

The same applies to any carbon reduction project that generates your credits. 

But before you sign any contract with the buyer or look for one, do your research first. Knowledge will help you be confident that the amount you’ve sold or get paid for is enough and not too low than you deserve. 

As mentioned earlier, you may also opt to enlist the help of a broker. But be prepared to share the payment with one. 

But if you want to take home all the money, then by all means, just find the right buyer yourself. 

How To Earn Carbon Credits? 

Before you can sell the credits, you have to earn them first. How do you do that?

If your business activity or project reduces, avoids, or removes CO2 from the atmosphere. 

  • For every metric ton of reduction or removal, you earn one carbon credit for it.

So if you have a huge project or a couple of them, you can earn even more credits to sell. But what are the major factors you need to consider to earn high-quality credits? Remember, quality credits sell higher. 

Let’s give a specific example for a better understanding – a farmer or rancher.

Here are the things farmers should be aware of to earn more through carbon credits.

  • Right carbon program. 

The right carbon credit program prompts farmers to apply sustainable practices designed to improve soil health, reduce carbon emissions, and enhance soil carbon sequestration. The approach should take into consideration that each farm is unique and so needs a customized guideline.

  • Right carbon farming plan.

Having a custom carbon farming practice plan means basing it on your baseline assessment and goals. The experts will guide you on how to implement carbon farming practices to generate the credits. Common examples are reduced tillage, improved residue management, cover corps, to name a few.

  • Right implementation.

This stage requires proper data-keeping and monitoring. Remember your goal is to generate credits by implementing the changes in your farming methods. Availability of data will help you guide what to improve in your practices. 

  • Verification. 

Verifying your data and results can be done by the carbon program you partner with or an independent body. Verification means determining if the amount of carbon removals or reductions your farm delivers is correct. 

Only with all those things in place that you can be issued with carbon credits and earn them. 

Carbon Credits Explained: Key Takeaway

To wrap it all up, can you make money from carbon credits? Yes, you can. Either by selling them or trading them as an asset.

Either way, you are not only earning cash but you are also contributing to winning over the climate change fight.

After all, carbon credits were designed to encourage us to reduce our planet-damaging footprint before it’s too late.



Joining Forces for the Preservation of Protected Areas

Protected areas of PNG

UNDP partners with CEPA to host the 3rd National Protected Areas Forum in Port Moresby

JUNE 19, 2023

“When it comes to biodiversity, Papua New Guinea is one of the most unique countries in the world. The kind of flora and fauna we have here is found nowhere else in the world. I want our future generations to also be able to enjoy them and that’s why I am so committed to protecting our country’s biodiversity.”

This is how Danny Nane, a Community Conservation Coordinator from the local NGO, the Tree Kangaroo Conservation Programme, described his motivation for coming to the Protected Areas Forum in Port Moresby this year.

The forum, which took place at the APEC House between 6-8 June 2023, was jointly organized by the Conservation and Environment Protection Authority (CEPA) of the Government of Papua New Guinea, UNDP, the Global Environment Facility (GEF) for the third time. Over a hundred representatives from the government, local and international NGOs, the private sector and local grassroots movements attended the forum to find ways to improve the management of the country’s protected areas. 

Since gaining its independence in 1975, Papua New Guinea has established over 60 protected areas across the country to conserve its environmental and cultural heritage. However, due to limited resources and capacity, as well as inadequate coordination between stakeholders responsible for the areas, much of the natural and cultural riches within the protected areas remain threatened to this day. 

“This forum provides us conservation practitioners an amazing opportunity to come together and help each other. By giving presentations on our work, we can learn from each other and bring good practices back into our own regions. We need these networks to do conservation work in Papua New Guinea,” said Mr. Nane, whose NGO works with local communities in Morobe Province to protect the habitat of the Matschie’s tree kangaroo.

Safeguarding rainforests through ecotourism

This year, the forum focused on three key issues: national policy, land use planning, and blue economy. Mr. Warren Dipole, the owner the Ulumani Treetops Ecolodge in Alotau, Milne Bay Province, traveled all the way from the southern tip of the country to advocate for improved protections for the country’s rainforests.

“Because of logging companies, there is so much destruction of the rainforests where I come from. My family and I wanted to show local people a way of earning an income without destroying the forests, so we started an ecolodge in 2000,” Mr. Dipole said.

Since opening the ecolodge, he has taken thousands of tourists to a protected rainforest nearby, which remains home to one of the holy grails of birdwatchers around the globe: the raggiana bird of paradise.

By passionately advocating for the sustainability of ecotourism, he has slowly witnessed the attitudes of some of the local landowners change. “They understand that the more tourists we take there, the more income they will be able to make from the site fees. So they have an incentive to not log the forests,” he explained.

Despite the promising developments, Mr. Dipole admits that many challenges remain to ensure the rainforests are preserved. Climate change has made weather patterns in the region unpredictable and marketing a remote ecolodge is often challenging. “I hope that by coming to the Protected Areas Forum, I can find some financial partners who will be able to increase the visibility of our ecolodge,” he concluded. 

Boosting support to protect Bootless Bay

Establishing new networks was also the goal of Jimmy Matapi Peter, the founder of Lukautim Yut Komuniti Envaironmen Sevis (LYKES), before he came to the forum. Through its work, LYKES provides unemployed and uneducated youth opportunities to participate in activities and trainings to preserve the country’s mangroves and marine life.

“We are here to talk about a special project we are conducting to protect the Bootless Bay area. Our goal is to make it the first maritime sanctuary in Papua New Guinea. Port Moresby is a fast-growing city and Bootless Bay is one of the last beautiful places in it. We need everyone on board to save its mangroves, sea grass and coral reefs,” he explained.

“As we are just a local NGO, a lot of our work is unfunded, and we depend on our own resources. We hope that by coming to the Protected Areas Forum, we can get more publicity and be invited to participate in different initiatives at the community level,” Mr. Peter added.

For Jimmy Peter of LYKES, the Protected Areas Forum presents a critical opportunity to find ways to participate in community-led initiatives

Mobilizing youth to save our ocean

The third day of the forum coincided with World Oceans Day and was entirely devoted to issues surrounding blue economy and the sustainable use of maritime resources. As part of the activities, UNDP and CEPA organized a Blue Innovation Challenge, where students from Port Moresby were asked to come up with innovations to protect the country’s ocean.

The victory went to a group of girl students from Port Moresby National High School of Excellence for their innovation to mandate the use of biodegradable fishing nets across Papua New Guinea. The students celebrated their victory during a clean-up event, which UNDP, CEPA and the National Maritime Safety Authority hosted at Ela Beach a day after the forum.

“Many of us are from the coast and in our villages, we often see rubbish all over our beaches. Sometimes people even bury their plastic waste in the sand. We wanted to come up with an innovative and inexpensive way to solve this problem and that’s how we came up with the idea of the biodegradable nets,” stated Idau Masere, one of the members of the groups after the victory. “It’s so special that the victory went to an all-girl group of humanities students. I hope we can be an inspiration to all girls and humanities students in the country,” she added.

Fostering cooperation from the capital to the local communities

At the end of the successful week, UNDP Resident Representative in Papua New Guinea, Dirk Wagener emphasized the unique opportunity that the forum provides for the country’s determined environmentalist to unite for a single cause. “You are here to engage with each other, to challenge each other and ultimately to collaborate with each other. Papua New Guinea’s biodiversity needs a voice and you are that voice. Make this voice stronger and make it heard,” he stated. 

The Director of Sustainable Environment Programmes of CEPA, Kay Kumaras Kalim also commended UNDP for the commitment it has made to hosting the forum and supporting the government in engaging with communities over the past years. “For us to be successful in preserving our biodiversity, it is crucial that the policies the government puts forward here in Port Moresby are implemented even in the remotest of communities in the provinces. UNDP has been very supportive in ensuring that we engage with all of you on the ground,” she concluded.


UNDP Resident Representative, Dirk Wagener, praised all the participants for their commitment to preserving Papua New Guinea’s unique natural environment.

“You are here to engage with each other, to challenge each other and ultimately to collaborate with each other. Papua New Guinea’s biodiversity needs a voice and you are that voice. Make this voice stronger and make it heard.”

UNDP Resident Representative, Mr. Dirk Wagener


I hope you have enjoyed this week’s read. Have an awesome week.


Chris Hagan.


Head, Fixed Interest and Superannuation
JMP Securities

Level 1, Harbourside West, Stanley Esplanade
Port Moresby, Papua New Guinea

Mobile (PNG):+675 72319913
Mobile (Int): +61 414529814

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