Prime Minister Gaston A. Browne is calling on CARICOM to enshrine the Debt Sustainability Support Servicing (DSSS) into its advocacy efforts which is contained within the Antigua and Barbuda Agenda for SIDS (ABAS) and which is supported by the Fourth International Conference on Finance for Development (FfD4).
PM Browne made the point during his contribution to the debate on Climate Change and the Climate Finance Agenda at the 49th Regular Meeting of the Conference of Heads of Government of CARICOM now underway in Jamaica.
The Prime Minister stated that the upcoming COP30 to be held in Belém, Brazil presented an opportunity for Small Island Developing States (SIDS) to increase climate advocacy efforts in climate adaptation, mitigation, and Loss and Damage to ensure that large polluting nations honour their commitments to preserve the wellbeing of the planet and its citizens.
He remarked that momentum must not be lost heading into COP30, as the survival of SIDS was dependent on the advocacy efforts of each CARICOM Member State. Moreover, Prime Minister Browne further called for the adequate revitalization and capitalization of the Loss and Damage Fund, which would greatly assist SIDS in their fight against climate change.
Given the high rate of debt amongst SIDS, the Prime Minister mentioned that CARICOM should ensure that the DSSS is included in any advocacy efforts surrounding climate financing, as it is supported and contained within the UN framework regarding climate change. He stated that while the DSSS seeks to benefit all SIDS, CARICOM should continue to demonstrate strident leadership in the fight against climate change through the inclusion of this important initiative.
Furthermore, Prime Minister Browne urged his colleague Heads (of Government) to explore the establishment of a carbon pricing market to monetize on climate mitigation, due in particular to the region’s large ocean space, to raise financing to mitigate against climate change.
