The Caribbean Growth Financial institution (CDB) will leverage the twenty ninth United Nations Local weather Change Convention (COP 29), scheduled for November 11 to 22 in Baku, Azerbaijan, to amplify the Caribbean’s urgent priorities for climate resilience and sustainable growth.
On the occasion, CDB will advocate for considerably elevated financing to help its borrowing member international locations in accelerating the sustainable power transition, enhancing catastrophe and local weather resilience, and addressing loss and harm—key components for the area’s long-term growth.
“The Caribbean urgently wants financing mechanisms that not solely acknowledge our vulnerabilities but additionally ship accessible, sufficient, and high-quality assets to deal with the extreme impacts of local weather change,” defined CDB’s Appearing President, Isaac Solomon.
“As we transfer towards a New Collective Quantified Objective on local weather finance, it’s essential that this aim is formidable and aware of the wants of creating international locations. For our area, this implies securing substantial, predictable flows of local weather finance, in addition to simplifying entry to those funds to make sure they’ll drive actual and sustainable progress. COP 29 offers a singular alternative to accentuate our advocacy on this entrance, and CDB stays steadfast in making the case for finance that’s really match for objective for our borrowing member international locations,” he added.
CDB’s COP 29 agenda options a number of thematic occasions aimed toward highlighting the area’s distinct challenges and wishes. On Thursday, November 14, the Financial institution will host a essential dialogue on “Local weather Finance Effectiveness within the Caribbean.” Collectively organised with the Caribbean Group Local weather Change Centre, this session will discover progressive methods and instruments to reinforce local weather finance flows to the area and maximise the impression of those investments.
On the identical day, the Financial institution will collaborate with the Organisation of African, Caribbean, and Pacific States (OACPS) for a panel dialogue on “Enhancing Strategic Collaboration Throughout OACPS for Local weather and Catastrophe Resilience.” This session will emphasise the significance of strategic partnerships in mobilising assets and driving efficient actions to construct local weather resilience in OACPS international locations.
Moreover, on Saturday, November 16, CDB will host a session on “The Supporting Resilient Inexperienced Vitality (SuRGE) Programme and the Caribbean Vitality Transition,” in collaboration with International Affairs Canada. This occasion goals to boost consciousness in regards to the help obtainable to the area by means of CDB’s newly launched SuRGE programme.
CDB’s participation at COP 29 will culminate on Thursday, November 21, with the session “Local weather Adaptation and Resilience within the Caribbean: Challenges and Alternatives,” organised with the Organisation of Japanese Caribbean States Fee. This occasion will underscore the significance of addressing local weather change adaptation and resilience constructing on the neighborhood degree within the Caribbean.
To additional advance the broader regional agenda at COP, the Financial institution is without doubt one of the sponsors of the CARICOM Pavilion, which would be the central hub for the area’s actions through the occasion. This devoted venue will host key discussions and supply a unifying area for Caribbean delegates in Baku, making certain a strengthened collective voice in local weather advocacy. The Pavilion will even function an consciousness and advocacy showcase, providing worldwide audiences compelling insights into the area’s local weather challenges and the help required for efficient options.
