Prime Minister Gaston Browne said that the world stands at the juncture where actions or the failure to act will dictate the fate of Small Island Developing States (SIDS) as well as the legacy left for future generations.
Serving as the President of the SIDS4 conference, the PM Browne opened the four-day conference with a strong message to member countries and development partners in full attendance for the opening ceremony of the conference yesterday.
The session opened with cultural displays including performances from local artistes Tizzy and Khan Cordice as well as a performance highlighting the impact of climate change.
The Prime Minister told the audience that the SIDS4 conference came at the critical time for small islands.
“This is a crucial gathering at a time of unprecedented global challenges, in which SIDS find themselves on the frontline of the battle against a conference of crises, none of which they have caused or created.
“Our inherent vulnerabilities characterised by small size, limited financial resources, and constrained human capital, places us at a marked disadvantage … globally where the scales of equity and justice is unevenly balanced against us,” he said.
He also noted that the financial support of the global north in committing to “$100 billion in climate financing, justice with adaptation and mitigation, as well as the effective capitalisation and operationalisation of the loss and damage fund” was imperative in the “equitable future of humanity”.
Referencing the recent advisory opinion issued by the International Tribunal for the Law of the Seas (ITLOS), the PM Browne argued that it is time that fossil fuel producing companies be held accountable.
“It is imperative that we act now, not tomorrow, but today, with conviction and with unyielding results; the major contributors to climate change have failed to meet their obligations to mitigate its effects, causing significant harm to SIDS and our planet in general.
“My hope is that future COPs will deliver the necessary results, averting the need for further action and, I add, that if we have to take further court action, we certainly will.
“I urge the major polluters to recognise and respect this historic ruling as an imperative to the fulfilment of their global legal obligations, particularly towards SIDS and, accordingly, to act in the best interests of our planet and all humanity,” he added
Today, PM Browne is expected to launch what he called the “debt service support initiative” which will call for the reform of the international financial structure to deliver innovative financing that goes beyond traditional concessional financing.
“The DSSI will include debt for climate swaps, insurance instruments, SDRs, renewable bonds and leveraging of public private partnerships to fulfil their potential in supporting our sustainable development goal.
“The adoption and use of the Multi-Dimensional Vulnerability index will also be critical to assist middle and high income since to access much needed concessional financing and grants, especially during periods of crisis,” the Prime Minister explained.
The theme of the SIDS4 conference is “Charting the course toward resilient prosperity” and the Prime Minister called on all nations to mark a new era of consistent progress.