10 October 2012: The UN Economic and Social Commission for Asia and the Pacific (ESCAP) convened the “High-level Policy Dialogue on the Role of Macroeconomic Policy and Energy Security in supporting Sustainable Development in the Pacific,” from 8-9 October 2012 in Nadi, Fiji.

Participants considered how fiscal and monetary policy, through tax, subsidies, national budgets, and public investment to develop markets for the private sector to invest further in renewable energy and energy efficiency, can support the growth of sustainable energy in the Pacific region. Participants from 14 Pacific island countries (PICs), including representatives from finance, central banks, planning departments, energy officials and development partners attended the meeting. Meeting participants agreed on the need to promote synergies between macroeconomic and energy security policies, to achieve sustainable development and insulate PICs from external economic shocks.

According to ESCAP, the dialogue also served as a forum for PICs to explore strategic policy options and subregional plans to enhance energy security in preparation for the ministerial Asian and Pacific Energy Forum, scheduled to convene in Vladivostok, the Russian Federation in 2013. PICs also endorsed an offer by Tonga to host a meeting in 2013 of Pacific leaders, energy ministers and development partners to share lessons on the development and implementation of the Tonga Energy Roadmap. [UN ESCAP Press Release]