NASSAU, Bahamas, CMC – Prime Minister Phillip Davis says any country that cares about security, geopolitical stability, and preventing millions of climate refugees from destabilizing borders should share the interest of the Bahamas in not just changing but revolutionizing climate finance.
Addressing the opening of the IV Inter-American Meeting of Ministers and High-Level Authorities on Sustainable Development on Sunday night, Davis said it is essential for all stakeholders to work together “to protect the people and the places we love.
”We are here to build solutions in climate finance and sustainable development at a time when such solutions can no longer be postponed. To survive the changing climate, we need to cooperate, coordinate, and collaborate,” Davis said, adding that “climate finance and sustainable development are paired together because, without the first, you cannot have the second.”
The three-day meeting will focus on the threat of climate change. Earlier this year, the Secretary General of the Organization of American States (OAS), Luis Almagro, speaking at the signing agreement for the conference to be held in Nassau, had stressed that collective action by the region is crucial to address the challenges of climate change and move towards sustainable development.
“Together, we will build a roadmap enabling countries to achieve their ambitious climate action goals and objectives. The OAS stands ready to support you in this task,” he said.
In his address, Prime Minister Davis told the audience to consider the billions of dollars in hurricane-related debt that burden the Bahamas.
“We have experienced the devastation and destruction of four significant storms – Category 4 and Category 5 – in under one decade. Every hurricane leaves us less fiscal space to prepare for the next one, which means we are under-investing in our people, economy, and future.
“Let me be clear, though – it is not just countries like mine with much at stake. Any country that cares about security, geopolitical stability, and preventing millions of climate refugees from destabilizing borders should share our interest in changing and revolutionizing climate finance.”
Davis asked the delegates to indicate how to create a path to resilience, survival, and success for all developing countries.
“We build climate finance solutions that free up resources in this new era of extreme weather.
We work to overhaul multilateral institutions so that they can de-risk and incentivize new ventures and partnerships and unleash funding at the scale needed for robust action and investment.
“We fight to make sure industrialized countries keep their promises, old and new. We build innovative insurance solutions to address gaps in protection and ensure affordability. And we share expertise and technology because when a country can expand renewable energy and energy efficiency policies, we all share in the win,” Davis said, adding,” It is true that our challenges are not identical. We will not agree on every issue”.
But he said developing countries would identify many opportunities for collaboration and for shared advocacy going into the United Nations Climate Change Conference (COP28) to be held in Dubai from November 30 to December 12.
Davis said that he remains hopeful that despite the gravity of the threats countries face, there will be a new generation of activists leading with energy and passion, as well as human ingenuity delivering innovations at a breathtaking pace, and that citizens everywhere are joining in the fight.
“As you know, just weeks ago, the people of Ecuador voted in a referendum to halt new oil drilling in a national park in the Amazon. Let us honor their courage and their votes by meeting this moment with determination,” Davis told the audience, including the OAS Secretary General.
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