New paradigms and revolutionary options are required to chart a resilient and sustainable power future for small island creating states (SIDS).
Barbados’ Minister of Power and Enterprise, Senator Lisa Cummins, expressed this view Monday, as she addressed the SIDS Ministerial, being held within the margins of the 14th Session of the IRENA Meeting, in Abu Dhabi. Barbados was appointed as Chair of the SIDS Ministerial.
Senator Cummins acknowledged that SIDS’ dedication to accelerating power transitions had been closely targeted on the electrical energy sector. “However resilience and sustainable improvement demand that we agitate for the decarbonisation of the transportation and different end-use sectors….
“We can’t depend on the identical programs and methodologies if we’re to chart a resilient and sustainable power future for SIDS. New paradigms and revolutionary options are required, or we are going to attain to this point and no additional,” she indicated.
Pointing to the Bridgetown Initiative, which addresses financing for local weather resilience, the Minister defined that amongst different issues, is designed to reform the best way wealthy international locations finance poor international locations in a local weather disaster by stopping spiralling debt crises from successive pure disasters akin to droughts, floods and hurricanes.
“Focused options comprising trendy versatile coverage, regulatory and legislative programs, that are conscious of technological developments in addition to bespoke monetary fashions, are a necessity. Technical help, information switch, and capacity-building of our human sources must be the nucleus of the transformation. The continual improvement of those programs is significant to facilitate SIDS’ entry to acceptable financing for the implementation of renewable power initiatives,” Senator Cummins mentioned.
She identified that this might help SIDS in higher managing their excessive debt profiles and channel investments to modernising archaic infrastructure, to facilitate the on boarding of renewable power and revolutionary options, akin to storage onto electrical energy grids, with out compromising stability and reliability.
The Minister mentioned the SIDS Lighthouses Initiative offers a partnership framework that facilitates help to speed up decarbonisation in small island creating states and the strengthening of local weather resilience.
She highlighted the success of the SIDS Lighthouses Initiative however careworn it was not the time for nostalgia or to relaxation on our laurels. She proffered the view that it’s time to reaffirm their dedication and reassess methods as a result of “a lot stays to be finished”.
Senator Cummins continued: “As SIDS, it’s crucial that we lead globally and use our collective voices to champion the power transition and local weather motion.”
