One Strong Caribbean Voice for Climate Action at COP28
The Caribbean Climate-Smart Accelerator is excited to unite with our Caribbean partners at COP28, utilizing the CARICOM Pavilion as our shared central platform. Our objective is to advocate with a unified regional voice for climate finance, climate justice and showcase innovation.
In our region we have a lot to be proud of, not least of which is that within the past two decades, CARICOM has almost doubled its renewable energy usage to over 11 percent with a target of 48 percent renewable electricity by 2027. In the wider region, we’re seeing growing ambition that gives us hope of ultimately reaching our goal of 90% renewable energy for all resulting in energy security. We are delighted to lend our support to accelerate the energy transition and further climate adaptation initiatives. Our own climate smart agriculture project, launched this year in Anguilla, Barbados and Cayman, is already bearing fruit quite literally, showcasing a marriage of innovation and ambition.
Recognising the tremendous amount of work to be done, the Caribbean Climate-Smart Accelerator will continue to play its part. To meet the moment of COP and the opportunity it presents to bring new donors to the region and highlight our solutions, we have expanded our COP delegation to three team members this year to increase our reach and effectiveness. Our Finance Innovation Director Cheryl Senhouse, Director Public Sector Projects, Kiesha Farnum and I will work with a razor-sharp focus toward three vital objectives.
Secure fit-for-purpose project financing
First, the CCSA team will proactively attract and track innovative, fit-for-purpose financing to address the specific needs and stages of the region’s portfolio of climate resilience projects. Our primary focus will be to secure financing that aligns with the shovel-worthy versus shovel-ready projects to close the climate funding gap.
A highlight event in this regard will be our ninth Investor Forum, Resilience in Action: Strategies and Financing for the Future.
Feature home-grown solutions like the CCSA Climate Smart Map
Second, to demonstrate Caribbean leadership in global transformation, we will showcase home-grown cutting-edge solutions, including the launch of our own Climate Smart Map. This data-rich tool will pinpoint the main areas of progress and need across our 28 coalition countries, enabling project curation and entrepreneurship.
Advocate for Loss and Damage Fund Operationalisation
And third, last year’s significant win at COP27, an agreement to establish a Loss and Damage Fund, must come to fruition. We will advocate on every platform available to us for its capitalization and operationalisation as it is critical to address urgent climate challenges and enhance the region’s capacity to cope with the impacts of climate change.
We are excited to collaborate towards additional accomplishments for the region. Our objectives will be achieved by working together and speaking with one strong Caribbean voice, serving as an example to the world of collaborative climate action and extraordinary achievement in the face of adversity.