Climate Change Financing Project for the OECS
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Climate Change Financing Project for the OECS
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Contact: Shannon LeBourne
Wednesday, February 15, 2012 – OECS countries are strengthening their ability to negotiate and receive financing to adapt to and mitigate for the future impacts of climate change.
In an effort to achieve this OECS financing initiative some forty regional experts are participating in a two day workshop here in Saint Lucia. The February 14 to 15th gathering opened yesterday at the Bay Gardens Hotel in the north of the island where the island’s Chief Sustainable Development Officer Chrispin D`Auvergne believes such financing opportunities will enhance the ability of Small Island States like Saint Lucia to respond to the challenges of climate change.
“Recently there was an international fund launched - “The Green Climate Fund” but I believe there will be a lot of demand on that fund. There is also an existing Adaption Fund but again I think the demand for that fund will outstrip the supply. There is also bilateral and multi lateral sources available through the international development banks for countries interested. There is loan financing but for many developing countries the argument is that we are not the cause of this so ideally we are not suppose to be borrowing money to finance climate change adaptation needs”.
The Chief Sustainable Development Officer says as a grouping, the OECS can better negotiate and ensure access to the funds. “One of the things we have to do as Small Island States is press these developed countries to live up to those pledges and some of them have started doing so but also for our part we really have to try to crystallise exactly what we are seeking in relation to climate change funding because it’s one thing to go out and say we need funding to adapt to climate change but it’s another thing to say I have put together a package of what we need and say to our bilateral and multilateral sources this is it but if it is a generic request we are less likely to receive assistance”.
D`Auvergne says he is optimistic that the workshop will increase participants’ awareness of the available financing opportunities and what can be done to receive access.
The OECS Climate Change Financing Workshop which got underway in Saint Lucia is receiving financial support of the World Bank.
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