Stakeholder engagement is key to the development of climate change adaptation and mitigation programs in Antigua and Barbuda. This is why the two-day mission trip by the Green Climate Fund to the twin islands on December 11 and 12th is so important, particularly for businesses interested in aligning with this niche sector.
On Tuesday 12 December Sir Rodney Williams, Governor General of Antigua and Barbuda, will be hosting a luncheon for the private sector on the Government House lawns. This luncheon seeks to engage the financial sector, banks and insurance companies, to discuss the linkages between finance and adaptation measures. It is also targeted at businesses offering climate change alternatives, such as renewable energy solutions, energy efficient options, and the like.
This kind of discussion becomes more important following the recent summer of natural disasters, however, it is a discussion critical to climate change in general. It is for this reason that the Department of Environment sought and received accreditation to the Green Climate Fund. This accreditation will allow the Department of Environment to receive up to US$10 Million to execute a combination of loans, grants, and so on, amounting to between USD10 million and USD50 million for adaptation and mitigation projects to be implemented in Antigua and Barbuda.
Through the preparation process for the Green Climate Fund accreditation, the Department upgraded their website and will be able to finance the Sustainable Island Resource Framework Fund (SIRF Fund), which will allow for low interest loans for persons within vulnerable communities to make their homes ready for a category 5 hurricane.
This is an opportunity for Antigua and Barbuda’s businesses and financial institutions to invest in low emissions technology and in building resilience to better cope with drought, hurricanes, sea level rise, and higher temperatures.
This Luncheon is being funded by the Green Climate Fund (GCF) Readiness Programme for Antigua and Barbuda. The objectives of this event are to:
• Consider macro-trends towards carbon budgeting and managing climate risks
• Identify opportunities for the private sector in Antigua and Barbuda to engage in capacity building discussions with the GCF Team
• Identify bankable opportunities in Antigua and Barbuda and the Eastern Caribbean for investing in low-emission climate resilient development
Any companies seeking to offer climate adaptation or mitigation solutions are invited to register with the Department of Environment by Thursday 7 December by calling Simone Dias at 562-2568 or sending her an email at Simone.Dias@ab.gov.ag. For more information about the GCF and other climate finance options go to www.environment.gov.ag.