The Caribbean Climate Reality

Against the backdrop of a devastating hurricane season that once again underscored the region’s extreme vulnerability, the Caribbean Development Bank (CDB) will take the Caribbean’s climate agenda to the global stage at the 30th Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change, scheduled for November 10–21 in Belém, Brazil.

The Bank will lead and participate in a series of events, high-level discussions and bilateral engagements aimed at securing greater access to concessional climate finance and strengthening partnerships for sustainable development.  CDB President, Mr. Daniel M. Best said this intensified engagement reflects both the urgency and opportunity of the moment.

“The Caribbean’s climate reality has never been clearer or more urgent,” he emphasised.  “The recent passage of Hurricane Melissa has underscored what we’ve been warning for years: without predictable, concessional finance, small island states cannot keep pace with escalating climate impacts.  COP30 is one of the most consequential arenas for advancing our case for climate justice and fair financing, and the Caribbean Development Bank will ensure our region’s voice is heard.”

At COP30, the Bank strategically engage governments, international partners, and private investors to deepen partnerships and advocate for increased concessional financing and innovative mechanisms to mobilise resources for the region.  On Monday, November 17, 2025, CDB will co-host three side events that reflect key priorities for climate action and resilience in the Caribbean.

The first session, “Leveraging Private Sector Financing for Transport and Energy Sector Transformation in the Caribbean,” will be held from 10:30 - 11:30 am (BRT) at the CARICOM Pavilion.  The event will explore strategies to unlock private capital through blended finance models, risk-sharing instruments, and innovative partnerships to accelerate investment in renewable energy and sustainable transport systems.

A discussion on “Agriculture and Food Security in the Caribbean: Scaling Innovative Solutions for Climate-Resilient Agriculture” is slated for 12:00 - 1:00 pm (BRT) at the Food and Agriculture Pavilion.  The livestreamed event will spotlight climate-smart agricultural practices and investment opportunities that can strengthen food security and reduce the region’s dependence on imports.

CDB will also join forces with CAF – Development Bank of Latin America and the Caribbean,  the Central American Bank for Economic Integration (CABEI) and the CREWS Secretariat to turn attention to disaster preparedness with a panel on “Climate Information and Early Warning Systems for Latin America and the Caribbean”  Scheduled for 3:45–4:45 pm (BRT) at the CARICOM Pavilion, the discussion will explore initiatives by the three institutions to finance and implement early warning systems for the region.

“CDB’s agenda at COP30 underscores our approach to climate action, which is practical, innovative, and built on partnerships,” President Best noted.  “The Caribbean is helping itself by developing our own solutions to protect lives, preserve livelihoods and transform our energy, transport and agriculture systems to secure our future, but we need the global community to stand with us.”

CDB targets 30-35% of its resources to climate finance demonstrating its commitment to helping Borrowing Member Countries adapt to the accelerating climate crisis.  The Bank is also better positioned to deliver transformative regional interventions through a recent increase in its GCF financing threshold to USD 250 million and its new Climate Change Project Preparation Fund, both of which will help countries design and finance concrete, high-impact projects faster and more effectively.

Source

Climate change an "existential threat" for the Caribbean

Desmond Brown
(Text & photos)

When it comes to climate change, Prime Minister Ralph Gonsalves of St Vincent and the Grenadines doesn’t mince words. He will tell you that it is a matter of life and death for Small Island Developing States (SIDS).

For St. Vincent’s Prime Minister
Ralph Gonsalves, climate change is a
matter of life and death.

"The threat is not abstract, it is not very distant, it is immediate and it is real," Gonsalves told IPS.

"The country which I have the honor of leading is a disaster-prone country. We need to adapt, strengthen our resilience, to mitigate, we need to reduce risks to human and natural assets resulting from climate change.

"This is an issue however, which we alone cannot address. The world is a small place and we contribute very little to global warming but yet we are on the frontlines of continuing disasters," Gonsalves added.

Since 2001, St. Vincent and the Grenadines has had 14 major weather events, five of which have occurred since 2010. These five weather events have caused losses and damage amounting to more than 600 million dollars, or just about a third of the country’s Gross Domestic Product (GDP).

"Three rain-related events, and in the case of Hurricane Tomas, wind, occurred in 2010; in April 2011 there were landslides and flooding of almost biblical proportions in the northeast of our country; and in December we had on Christmas Eve, a calamitous event," Gonsalves said.

"My Christmas Eve flood was 17.5 percent of GDP and I don’t have the base out of which I can climb easily. More than 10,000 people were directly affected, that is to say more than one tenth of our population.

"In the first half of 2010 and the first half of this year we had drought. Tomas caused loss and damage amounting to 150 million dollars; the April floods of 2011 caused damage and loss amounting to 100 million dollars; and the Christmas Eve weather event caused loss and damage amounting to just over 330 million. If you add those up you get 580 million, you throw in 20 million for the drought and you see a number 600 million dollars and climbing," Gonsalves said.

Over the past several years, and in particular since the 2009 summit of the U.N. Framework Convention on Climate Change in Copenhagen, the United States and other large countries have made a commitment to help small island states deal with the adverse impacts of climate change, and pledged millions of dollars to support adaptation and disaster risk-reduction efforts.

On a recent visit to several Pacific islands, Secretary of State John Kerry reiterated the importance of deepening partnerships with small island nations and others to meet the immediate threats and long-term development challenges posed by climate change.

But Gonsalves noted that despite the generosity of the United States, there is a scarcity of funds for mitigation and adaptation promised by the global community.

Opposition legislator Arnhim Eustace is concerned that people still "do not attach a lot of importance" to climate change.

"When a fellow is struggling because he has no job and can’t get his children to school, don’t try to tell him about climate change, he is not interested in that. His interest is where is my next meal coming from, where my child’s next meal is coming from, and that is why you have to be so careful with how you deal with your fiscal operations," he stated.

Eustace, who is the leader of the opposition New Democratic Party, said people must first be made able to meet their basic needs to that they can open their minds to serious issues like climate change. (Excerpts from IPS)

October 30, 2014

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