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FST Climate Scientist weighs in on Climate Money for SIDS

With COP 27 now a distant memory, the work for building the capacity of Caribbean Small Island Developing States (SIDS) to respond to and recover from the impacts of a changing climate continues. Prof. Michael Taylor (Climate Scientist and Dean, Faculty of Science and Technology, The UWI Mona) noted that one of the outcomes from COP 27 is the commitment to establish a ‘loss and damage’ fund for developing countries. The establishment of the fund will support the ex-post response of developing countries affected by climate impacts, the likes of which have been seen with the experience of extreme hurricane events in the Caribbean over recent years. The establishment of the fund is a global indication that loss and damage will no longer be solely borne by those governments and people least responsible which is a step towards climate justice. However, Prof. Taylor noted, “[There is need for the] establishment of clear and transparent mechanisms outlining how the new loss and damage fund will be capitalised, operated, and accessed,” stated Taylor.

“The region must be vigilant in ensuring that the new loss and damage fund is not seen as an excuse or compensation for not achieving mitigation targets. We still need significant reductions, so that the loss and damage to come will be as minimal as possible,” Taylor added. That special report on 1.5 degrees Celsius of global warming flagged the need for significantly scaled-up adaptation and mitigation actions to successfully limit increasing global temperatures to 1.5 degrees above preindustrial levels in order to prevent the likely catastrophic impacts on countries, including Caribbean SIDS, that are especially vulnerable to climate risks and threats – from sea level rise to extreme hurricane and drought events, and the associated public health implications.

Photo caption: Demonstrators participate in a protest advocating for the 1.5 degrees warming goal at the COP27 UN Climate Summit on Wednesday, November 16, in Sharm el-Sheikh, Egypt.

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Published on 13 Dec, 2022

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