Mon | Oct 23, 2017

Jamaica on track for green funding

Published:Wednesday | June 29, 2016 | 12:00 AMChristopher Serju

Jamaica is on track to receive US$300,000 (J$37 million) in grant funding from the Green Climate Fund, to better equip the Climate Change Division to carry out is functions in regard to spearheading the national effort to develop effective climate resilience and lower emissions development strategies.

In its capacity as the National Designated Authority, the division will receive this money as 'Readiness Support' to prepare it to carry out its mandate, which includes development of a country programme, which is vital to the establishment of a coherent national framework for accessing more international climate finance.

Laetitia De Marez, the Green Climate Fund's regional adviser for the Caribbean explained the importance of putting the Climate Change Division on a firm footing to guide the process to access more money from the global fund set up to help developing countries put in place sustainable adaptation and mitigation practices to counter the effects of climate change.

"The second part of this Readiness Support is to develop what we call a country programme, which is basically highlighting what projects and programmes are priorities for Jamaica to be funded in the short and long term. So this programme is sort of the road map of the relationship between the country and the fund, and we work together to make this happen. We would support project develop-ment once those projects are decided on and the priorities are clear and we have that in the correct format," she told The Gleaner last Friday.

The occasion was a breakfast/workshop under the theme 'Transforming Development and Climate Challenges into Inclusive Business Opportunities' at the Four Seasons Hotel, St Andrew, targeting members of the private sector to get their buy-in on the importance of appropriate adaptation and mitigation strategies in their business practices.

 

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Daryl Vaz, minister without portfolio in the Ministry of Economic Growth and Job Creation, appealed to the Private Sector Organisation of Jamaica (PSOJ), pointing to individual and national imperatives.

"Private-sector participation will be an important plank of climate action. We are mindful of your role in the overall quest to attain economic goals. However, we all must be aware that climate change and its possible impacts can derail all our plans and programmes if concrete and decisive steps are not taken to deal with this global issue," he told the PSOJ members.

Vaz continued: "We want to provide you with the knowledge and expertise to access these funds through the Government or on your own as grant funding or as concessional loans. Our role as enablers will ensure that you can go to the GCF (Green Climate Fund) to obtain funding for your projects in the shortest possible time."