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New agreement signed to assist small islands to develop renewable energy

On Wednesday, an historic agreement aimed at helping Small Island Developing States develop renewable energy and increase energy efficiency was signed at the 16th United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties.

The signing involved prime minister of Grenada, Tillman Thomas, in his capacity as chair of the Alliance of Small Island States (AOSIS), Denmark’s Environment and Women Welfare Minister, the president of the World Bank and the administrator of the United Nations Development Programme (UNDP).

At the signing ceremony Thomas pointed out that the latest scientific evidence was a major concern for island states and that the global community needs to urgently transform the energy sector in order to reduce greenhouse gases (GHG) emission.

“Failure to bring about a transformation of the energy sector to GHG emission below 1990 levels within the next decade will see the end of many small island states as viable countries, and many will disappear into the oceans, while others will be significantly reduced in size losing their major economic assets,” said Thomas.

“We are doing our share and moving towards clean energy and challenge all countries to take bigger steps towards energy efficiency,” he said.

The Small Island Developing States Sustainable Energy Initiative, called SIDS DOCK, was developed to provide a docking station facility that provide island states with easier access to financing, technology, technical assistance, and to participate in the global carbon market.

The government of Denmark, the first developed country to provide support to the initiative under the Copenhagen Accord Fast Start mechanism, had pledged about US$14.5 million in 2011.

The World Bank, represented by its president Robert Zoellick, and the UNDP, represented by administrator Helen Clark, will provide technical support to the initiative. This initiative for the first time provides AOSIS with a needed mechanism to support their efforts to implement sustainable development.

Source: Caribbean News Now

Category/ies:Regional News.
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