Antigua PM calls for fully funded climate loss and damage mechanism for Caribbean nations
Antigua and Barbuda Prime Minister Gaston Browne says Loss and Damage Fund should be correctly capitalized to assist Caribbean nations get well from more and more extreme climate-related disasters with out falling deeper into debt.
Speaking on Pointe FM following current conferences in New York, Browne stated Antigua and Barbuda stays engaged in discussions with worldwide climate financing companies because the nation seeks better entry to funding for climate resilience and housing renewal tasks.
The prime minister stated he had already held talks with officers linked to the Loss and Damage Fund and expressed optimism that Antigua and Barbuda might safe extra financing to strengthen infrastructure and enhance catastrophe preparedness.
Browne argued that small island growing states contribute minimally to international greenhouse fuel emissions however proceed to face a few of the harshest penalties of climate change, together with stronger hurricanes and different excessive climate occasions.
“We have contributed little to this crisis,” Browne stated whereas discussing what he described as inequities within the international climate financing system.
He maintained that wealthier industrialized nations with traditionally excessive fossil gasoline emissions ought to present better monetary help for weak nations.
“Those who pollute must pay,” Browne stated, whereas urging that the Loss and Damage Fund be sufficiently financed so Caribbean nations can entry grant funding after pure disasters as an alternative of relying closely on loans.
The Antiguan chief additionally reiterated calls for reforms to the worldwide monetary system, together with broader use of vulnerability-based measurements reasonably than revenue classifications when figuring out eligibility for concessional financing.
Browne pointed to his advocacy surrounding the Multidimensional Vulnerability Index, arguing that conventional financial indicators don’t precisely replicate the dangers confronted by small island states weak to climate shocks.
He additionally linked climate financing to Antigua and Barbuda’s broader housing and infrastructure agenda, noting that the federal government is pursuing help by way of establishments together with the Global Environment Facility and the Loss and Damage Fund to help resilient housing and environmental tasks.
Browne stated continued funding in resilient infrastructure, renewable vitality, and environmental administration will likely be crucial to defending the nation’s financial system and tourism sector from climate-related threats.