BRIDGETOWN, Barbados, CMC -The Barbados-based Caribbean Development Bank (CDB) on Wednesday said it will seek to amplify the region’s urgent priorities for climate resilience and sustainable development at the United Nations Climate Change Conference (COP 29), which gets underway in Azerbaijan on November 11.
The region’s premier financial institution said it will advocate for significantly increased financing to support its borrowing member countries in accelerating the sustainable energy transition, enhancing disaster and climate resilience, and addressing loss and damage—critical elements for the region’s long-term development.
“The Caribbean urgently needs financing mechanisms that not only acknowledge our vulnerabilities but also deliver accessible, adequate, and high-quality resources to tackle the severe impacts of climate change,” said the CDB’s acting President, Isaac Solomon.
“As we move toward a New Collective Quantified Goal on climate finance, this goal must be ambitious and responsive to the needs of developing countries,” he said, adding, “For our region, this means securing substantial, predictable flows of climate finance, as well as simplifying access to these funds to ensure they can drive real and sustainable progress.
“COP 29 provides a unique opportunity to intensify our advocacy on this front, and CDB remains steadfast in making the finance case that is truly fit for purpose for our borrowing member countries,” Solomon said.
The CDB said the COP 29 agenda features several thematic events highlighting the region’s distinct challenges and needs.
On November 14, the bank will host a discussion on “Climate Finance Effectiveness in the Caribbean,” jointly organized with the Belize-based Caribbean Community Climate Change Centre (CCCCC).
The event will explore innovative strategies and tools to enhance climate finance flows to the region and maximize the impact of these investments.
On the same day, the CDB will collaborate with the Organisation of African, Caribbean, and Pacific States (OACPS) for a panel discussion on “Enhancing Strategic Collaboration Across OACPS for Climate and Disaster Resilience.”
It said this session would emphasize the importance of strategic partnerships in mobilizing resources and driving practical actions to build climate resilience in OACPS countries.
On November 16, CDB will host a session on “The Supporting Resilient Green Energy (SuRGE) Programme and the Caribbean Energy Transition” in collaboration with Global Affairs Canada.
“This event aims to raise awareness about the support available to the region through CDB’s newly launched SuRGE program,” the CDB said, adding that its participation at COP 29 will culminate on November 21, with the session “Climate Adaptation and Resilience in the Caribbean: Challenges and Opportunities,” organized with the Organisation of Eastern Caribbean States Commission (OECS).
“This event will underscore the importance of addressing climate change adaptation and resilience building at the community level in the Caribbean.”
The CB said that to advance the broader regional agenda at COP further, it is one of the sponsors of the CARICOM Pavilion, which will be the central hub for the region’s activities during the event.
“This dedicated venue will host key discussions and provide a unifying space for Caribbean delegates in Baku, ensuring a strengthened collective voice in climate advocacy. The Pavilion will also serve as an awareness and advocacy showcase, offering international audiences compelling insights into the region’s climate challenges and the support required for effective solutions,” it added.
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