Jamaica says it believes a partnership approach is required in order to generate the type of response needed to create long-term mobilisation of the financial resources small island developing states (SIDS) urgently need to deal with the impact of climate change.
Prime Minister Andrew Holness, addressing a luncheon here, said that for Jamaica, it was important to emphasise the term partnership even before talking about climate finance.
He said this was necessary because “we believe a partnership approach would generate the type of response across countries necessary to create long-term mobilization of the financial resources small island developing states and least developed countries (LDCs) urgently need to prepare, adapt and indeed thrive in the wake of climate change.”
The luncheon is among a series of activities marking the first ever United Nations Secretary-General’s Climate Action Summit and Holness said that the presence of so many world leaders and key stakeholders is testament to the importance the international community attaches to climate finance.
He said within the context of the Climate Action Summit, Jamaica has submitted to the UN Secretary-General, a plan to enhance its 2020 Nationally Determined Contribution (NDC); which includes more ambitious targets for renewable energy, emissions reductions, sustainable land use and forest management, low carbon transport, increased investments in sustainable infrastructure and enhanced fiscal resiliency.
“However, our NDCs can rapidly turn into wishful thinking if the right blend and scale of financial resources are not in place to catalyze public and private sector investments in climate smart solutions,” Holness said, noting that “we have the right mechanism in place to support the rapid financing of sustainable, low carbon projects in developing countries and to help these countries adapt to climate change.
“As we have all worked directly or indirectly to create this financing mechanism, the Green Climate Fund (GCF) is truly our Fund.”