Exploring the potential of Green Tourism Bonds as a climate financing initiative in Samoa : a thesis presented in partial fulfillment of the requirements for the degree of Masters of International Development, Development Studies, Massey University, Manawatū, New Zealand
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2024
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Massey University
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Abstract
This research aimed to explore the potential of a climate financing initiative, namely Green Tourism Bonds, in Samoa. Green Tourism Bonds are a climate financing initiative that allows the tourism sector to adapt and mitigate to the impacts of climate change through providing financial capital where needed. With only one prominent case of Green Tourism Bonds being used globally, there is a research gap in Samoa to explore how these bonds could be implemented in line with Samoan aspirations. Therefore, this research undertook an approach that is driven by the sustainable tourism development aspirations of the Samoan Tourism Authority and the Government of Samoa. The development research problem is that globally-led climate financing initiatives are hard to access for Small Island Developing States, and do not encourage them to tap into their already present forms of community resilience. An example of this resilience can be seen through Latai‐Niusulu, Binns, et al., (2020) cultural-ecological lens on climate change resilience, which directly draws from the knowledge that Samoans have been resilient throughout their history. These historic, dynamic and adaptable patterns of resilience continue to be drawn upon in the contemporary climate change environment (Latai‐Niusulu et al., 2020). This research found that for Green Tourism Bonds to have potential in Samoa, they would have to align with their sustainable tourism development and climate financing approaches. Ultimately, for climate financing to contribute to long-term, in-country resilience, cultural ecological resilience needs to be at the forefront. If it is to be connected to tourism, climate financing needs to also uphold how the sustainability principles established by the Pacific Tourism Organisation are conceptualised in Samoa. Green Tourism Bonds have made proven contributions to the sustainable tourism development in other places. However, due to the challenges posed by the economic COVID-19 recovery, the ‘newness’ of climate financing, capacity of the Government of Samoa and the tourism sector in Samoa, this approach is not recommended in the short- to medium-term in Samoa. This research connects sustainable tourism development and climate financing together in the Samoan context and recommends further options for Samoa.
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Figure 3.6 is re-used under a Creative Commons Attribution 4.0 International license (CC BY 4.0).