With COP 27 fast approaching, President Irfaan Ali believes the regional focus must be on energy and better access to financing for SIDS and low-lying coastal regions, especially as countries face the impacts of the global debt crisis brought on by the war in Ukraine.
The 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP 27) will take place this year in Egypt from November 6-18. This annual meeting of world leaders is an opportunity to ensure timely and adequate action to tackle climate change.
The war in Ukraine has sent the world into a fuel crisis, inflation crisis, and debt crisis, which resulted in a number of unfulfilled promises from COP 26.
With COP 27 occurring within the reality of all the challenges, President Irfaan Ali believes energy must take an important place on the agenda.
“We have a more complex energy environment now where energy security itself is threatened, especially in the EU region and in the UK also. That will call for some very sober reflection. For us, in Guyana, we have advanced the LCDS 2030. We are hoping that before the end of this year, we can have some key announcements in terms of our carbon market.”
The Head of State also noted funds needed for climate adaptation are far beyond what is accessible for smaller developing nations at this time.
President Ali re-iterated his hopes of having more funds distributed for Small Island Developing States (SIDS) based on a vulnerability index since developing nations have been and will continue to be most affected by worsening climate conditions.
The British High Commissioner acknowledged the struggles SIDS and low-lying coastal states face in accessing global financing facilities while noting that the UK has been working with the Caribbean to assist with this.
“I think the Glasgow Climate Pact was highly ambitious, and the UK remains ambitious in terms of the climate change agenda. There are a few issues we’re specifically working on, and one of that is access to finance. The other area is on the blue economy. Looking at the oceans, the opportunities there, and the rivers. Guyana has been working with the UK for some years on the blue economist plan so we continue to work in that space as well.”
Nations adopted the Glasgow Climate Pact at COP 26, aiming to turn the 2020s into a decade of climate action and support.
The package of decisions consists of a range of agreed items, including strengthened efforts to build resilience to climate change, curb greenhouse gas emissions and provide the necessary finance for both.