Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator the Hon. Matthew Samuda, says Jamaica stands ready to access funds to adapt and build climate resilience. He made the disclosure today (June 1) at the Stockholm + 50 International Meeting, which was organized by the World Resources Institute in Stockholm, Sweden.
The Minister, who has responsibility for climate change and the blue and green economies, spoke under the theme “Fast-tracking resilience and adaptation” and said, “Small Island developing states, such as Jamaica, are indeed readying themselves to accept financing; the key is how readily it will be available to us”.
Minister Samuda outlined that Jamaica has been a “champion” for climate finance by actively engaging with international finance initiatives, networks, and coalitions.
He noted that “Setting an ambitious climate agenda is the first critical step and Jamaica demonstrated its leadership by being the first nation in the Caribbean (and 11th in the world) to present a more ambitious NDC in 2020”.
“The updated NDC doubled its energy emissions reduction target as compared to the first NDC. It addresses land-use change and forestry for the first time, and fosters adaptation co-benefits that will reduce pollution, improve health, and address vulnerabilities related to water shortage and food security,” Minister Samuda added.
The Stockholm Declaration was adopted on 16 June 1972 by the United Nations Conference on the Human Environment. It was the first document to recognize the interconnections between development, poverty, and the environment.
Minister Samuda presented to the international partners the other strategies that were implemented to drive Jamaica’s climate agenda:
“Through the GCF (Green Climate Fund), Jamaica launched a Green Bond Project something we view as particularly important. With the help of the World Bank, we have launched our first catastrophe bond because in our case and in the case of SIDS, it is not a matter of if, it is a matter of when these events will visit us”.
The Minister also pointed out that Jamaica is actively “engaged as a pilot country in the UK-Fiji Climate Finance Task Force”.
“We stand ready to prepare ourselves to ensure that governance and transparency are in place for when we receive the funds, as it is an urgent priority for Jamaica, all members of CARICOM and SIDS,” Minister Samuda ended.
The international meeting entitled “Stockholm+50: a healthy planet for the prosperity of all – our responsibility, our opportunity”, is being held pursuant to General Assembly resolution 75/326 of 10 September 2021. The meeting is being hosted by the Government of Sweden with the support of the Government of Kenya, to reflect on the urgent need for actions to address global climatic changes.