BRIDGETOWN, Barbados, CMC -The Barbados-based Caribbean Growth Financial institution (CDB) on Wednesday mentioned it would search to amplify the area’s pressing priorities for local weather resilience and sustainable improvement on the United Nations Local weather Change Convention (COP 29), which will get underway in Azerbaijan on November 11.
The area’s premier monetary establishment mentioned it would advocate for considerably elevated financing to help its borrowing member nations in accelerating the sustainable vitality transition, enhancing catastrophe and local weather resilience, and addressing loss and harm—essential parts for the area’s long-term improvement.
“The Caribbean urgently wants financing mechanisms that not solely acknowledge our vulnerabilities but additionally ship accessible, enough, and high-quality assets to deal with the extreme impacts of local weather change,” mentioned the CDB’s appearing President, Isaac Solomon.
“As we transfer towards a New Collective Quantified Purpose on local weather finance, this aim should be formidable and attentive to the wants of growing nations,” he mentioned, including, “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 supplies a singular alternative to accentuate our advocacy on this entrance, and CDB stays steadfast in making the finance case that’s really match for function for our borrowing member nations,” Solomon mentioned.
The CDB mentioned the COP 29 agenda options a number of thematic occasions highlighting the area’s distinct challenges and wishes.
On November 14, the financial institution will host a dialogue on “Local weather Finance Effectiveness within the Caribbean,” collectively organized with the Belize-based Caribbean Group Local weather Change Centre (CCCCC).
The occasion will discover progressive methods and instruments to boost local weather finance flows to the area and maximize the influence of those investments.
On the identical day, the CDB 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.”
It mentioned this session would emphasize the significance of strategic partnerships in mobilizing assets and driving sensible actions to construct local weather resilience in OACPS nations.
On November 16, CDB will host a session on “The Supporting Resilient Inexperienced Power (SuRGE) Programme and the Caribbean Power Transition” in collaboration with International Affairs Canada.
“This occasion goals to boost consciousness concerning the help obtainable to the area via CDB’s newly launched SuRGE program,” the CDB mentioned, including that its participation at COP 29 will culminate on November 21, with the session “Local weather Adaptation and Resilience within the Caribbean: Challenges and Alternatives,” organized with the Organisation of Jap Caribbean States Fee (OECS).
“This occasion will underscore the significance of addressing local weather change adaptation and resilience constructing on the neighborhood stage within the Caribbean.”
The CB mentioned that to advance the broader regional agenda at COP additional, it is among the sponsors of the CARICOM Pavilion, which would be the central hub for the area’s actions throughout the occasion.
“This devoted venue will host key discussions and supply a unifying house for Caribbean delegates in Baku, guaranteeing a strengthened collective voice in local weather advocacy. The Pavilion can 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,” it added.
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