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Showing 9 of 84 news items in Green Finance & Economy

Green Finance & EconomyJune 21, 2024

Beyond GDP: Cayman needs a new yardstick for measuring success

Limited control over imports: SIDS often depend heavily on imports due to their small size, isolation, and resource scarcity, which traditional economic theories do not account for. Vulnerability to external shocks: SIDS are particularly susceptible to global economic changes, natural disasters, and shifts in major trading partners’ economies. Need for resilience and adaptation: Economic policies for SIDS should prioritise resilience, sustainability, and adaptation to external shocks. Unique development goals: SIDS prioritise goals like social inclusion, cultural heritage preservation, and environmental protection over mere GDP growth. Innovation and entrepreneurship: There is significant innovation potential in sectors like renewable energy and sustainable tourism, which should be considered. Global cooperation and support: SIDS require international support, including debt relief, finance access, technology transfer, and fair-trade practices.

Green Finance & EconomyJune 21, 2024

Azerbaijani president moots creating fund for “small island states”

Photo: president.az. Retrieved from eurasianet.org Azerbaijani President Ilham Aliyev seems intent on channeling the spirit of former Egyptian leader Gamal Abdel Nasser as a role model for de-colonization and advocacy of small nations. In the run-up to the annual UN climate conference, COP29, to be hosted by Azerbaijan, Aliyev is taking up the cause of South Pacific island states threatened by rising sea levels. It appears Aliyev hopes to use COP29, which will take place in November in Baku, as a springboard to prominence among the countries of the Global South in the broadest sense of the term. Such ambitions were on display in early June at Baku Energy Week. In his [opening remarks](https://president.az/en/articles/view/66181), Aliyev quickly touted his government’s efforts to reduce poverty and build what he described as “an inclusive society.” He then suddenly switched topics, announcing that Azerbaijan is “actively working with small island developing states,” and even planning to create a fund to support them. Aliyev’s fixation on the South Pacific may have a connection to enmity between Azerbaijan and France. Baku has long [bristled](https://eurasianet.org/armenia-azerbaijan-macron-stirring-things-up-in-the-caucasus) at France’s unwavering support for Armenia in the long-running Karabakh conflict. In May, France accused Aliyev’s administration of [stirring up](https://eurasianet.org/azerbaijan-baku-denying-french-accusations-of-meddling-in-new-caledonia) protests by pro-independence islanders in the French colony of New Caledonia.

Green Finance & EconomyJune 17, 2024

Empowering Small Island Nations: The Path to Resilient Prosperity

From the Pacific to the Caribbean, there is a palpable shift in the air as both regions forge new sustainable development trajectories. The end of the [4th International Conference on Small Island Developing States (SIDS4)](https://sdgs.un.org/conferences/sids2024) last month saw the world’s islands take stock of their development and agree on the frameworks for the next ten years of policy. The once-in-a-decade conference, this time held in Antigua and Barbuda, was a showcase of expertise, resilience, and innovation in action. It highlighted that despite the complex situations islanders find themselves in around the world, there is a level of solidarity and collaboration between these communities that enables them to lean on one another for knowledge and support. Heading into SIDS4, the [Pacific Island Development Forum (PIDF)](https://www.pidf.int/) and [United Nations Development Programme (UNDP)](https://www.undp.org/), alongside several international partners, wrapped up a successful solar project that spanned 10 Pacific nations — exemplifying the regional and international cooperation needed to maximize sustainable development. A $1.3 million USD programme funded by the Government of India aimed at highlighting the benefits of solar energy and providing training for green jobs, the [“Solarization of Residences of Pacific Heads of State Project”](https://www.pidf.int/%F0%9D%90%8E%F0%9D%90%9F%F0%9D%90%9F%F0%9D%90%A2%F0%9D%90%9C%F0%9D%90%A2%F0%9D%90%9A%F0%9D%90%A5-%F0%9D%90%8B%F0%9D%90%9A%F0%9D%90%AE%F0%9D%90%A7%F0%9D%90%9C%F0%9D%90%A1-%F0%9D%90%A8%F0%9D%90%9F/) saw 12 public buildings in the region equipped with solar panels. This included the official residences or offices of the governments of the Federated States of Micronesia, Fiji, Kiribati, Palau, the Marshall Islands, Solomon Islands, Tuvalu, and Vanuatu. Nauru saw panels installed on the island’s Dialysis Center, as did Tonga’s National Women’s Council.

Green Finance & EconomyJune 17, 2024

Brain drain, ageing, slow growth facing Caribbean populations

Excerpt and Photo from caribbean.loopnews.com Low fertility rates, ageing, non-communicable diseases, limited opportunities for youth, and outmigration have emerged as some of the latest demographic trends for the Caribbean region. These and other issues of importance to Caribbean populations were at the forefront of a global policy dialogue among a panel of experts which took place at the Fourth International Conference on Small Island Developing States (SIDS4) in Antigua & Barbuda. Hosted by the United Nations Department of Economic and Social Affairs (UN DESA) the discussion centered on the findings of the UN DESA report, “[Population Prospects of Countries in Special Situations”](https://desapublications.un.org/file/20501/download) and featured the voices of John Wilmoth, Director, Population Division, UN DESA, Jenny Karlsen, Deputy Director, Sub-Regional Office for the Caribbean, United Nations Population Fund (UNFPA), Ashley Lashley, Executive Director, The Ashley Lashley Foundation, Li Junhua, UN Under-Secretary-General for Economic and Social Affairs, Mayor Bernard Wagner of Belize City, and moderator, Caribbean journalist, Daphne Ewing-Chow. The UN-DESA report provides an analysis of current and projected population trends from the current period to 2050 for 110 vulnerable countries or territories— among these— Small Island Developing States.

Green Finance & EconomyJune 17, 2024

From Sustainable Agriculture to Water Security, DISGS Grants Propel Economic Growth and Social Change in Fiji

Excerpt and Photo from undp.org In the very heart of Fiji’s scenery and dynamic community life, a quiet but impactful change is happening, thanks to the Drua Innovation Small Grant Scheme (DISGS). Beyond its aims of fostering economic development and sustainability, this pioneering initiative is fundamentally changing lives, not just for its recipients but for their workers and families as well. Partnering with the Government of Fiji, the UN Development Programme (UNDP) Pacific Office in Fiji, and with support from the Government of Luxembourg, this initiative is supporting transformative development, not just for its recipients but for their workers and families as well. Aligned with the global goals of UNDP, the DISGS plays a pivotal role in driving economic growth, sustainability, and gender equality in Fiji.

Green Finance & EconomyJune 11, 2024

Niue works towards ‘self-sustaining’ future with New Zealand

An MP in Niue wants New Zealand to support the realm to stand on its own two feet economically. “How we can grow with New Zealand towards the next 50 years, and possibly to be self-sustaining, not to be dependent more on New Zealand every time we need cash,” Niue MP Emani Fakaotimanava-Lui told RNZ Pacific. New Zealand Prime Minister Christopher Luxon landed in Niue on Tuesday, on his first official visit to the Pacific after assuming office. The trip marks five decades since Niue made a decision to self-govern in free association with New Zealand. Niue is not independent, instead it is a realm of Aotearoa. “The independence part would have to be decided upon by those at the time,” Fakaotimanava-Lui said. With [less than 1700 people](https://niuestatistics.nu/) living on the island, and many more tagata Niue in Aotearoa, he said there are more immediate issues than independence. He said his hope for the next 50 years is to see Niue generating its own revenue.

Green Finance & EconomyMay 30, 2024

SIDS4: Nigeria to collaborate with small islands, prioritise investments in climate resilience – Tinubu

Excerpt and Photo from environewsnigeria.com Nigeria has said that it stands in solidarity with Small Island Developing States (SIDS) and is committed to contributing to global efforts aimed at mitigating climate impacts and promoting sustainable development. In a speech delivered on Wednesday, May 29, 2024, in Antigua and Barbados during the 4th United Nations International Conference on Small Island Developing States (UN SIDS4), President Bola Tinubu lamented that SIDS are at the frontline of global environmental crisis due to climate change and other factors such as pollution and loss of biodiversity. “Despite contributing less than one 1% percent of global greenhouse gas emissions, these nations suffer disproportionately from the impacts of climate change resulting to rising sea levels, increased frequency of extreme weather events, and the degradation of marine ecosystems,” said Tinubu, who was represented by Balarabe Abbas Lawal, the Minister of Environment.

Green Finance & EconomyMay 30, 2024

SIDS4 President calls for increased financial support

Excerpt and Photo from caribbean.loopnews.com Conference on Small Island Developing States (SIDS4 Conference), Gaston Browne, has reiterated the pressing need for increased financial support to empower small island developing states like Antigua and Barbuda. Speaking at a high-level forum during the conference taking place at the American University of Antigua, Browne emphasized the importance of mobilizing resources to implement the Antigua and Barbuda Agenda for SIDS (ABAS) effectively. “Together we must identify decisive steps to facilitate the mobilization of much-needed financial resources for the crucial implementation of the Antigua and Barbuda Agenda for SIDS, the ABAS, but also to ensure that all SIDS, irrespective of classification, have unfiltered access to resources,” he said.

Green Finance & EconomyMay 29, 2024

EU investors meet with Caribbean reps at SIDS4

Excerpt and Photo from guardian.co.tt Key European Union (EU) investors and private sector stakeholders travelled to Antigua and Barbuda this week to present concrete investment opportunities, under the Global Gateway Investment Agenda, to Caribbean representatives at the Fourth International Conference on Small Island Developing States (SIDS). The meeting took place on Monday in Antigua and Barbuda as the European Commissioner for International Partnerships Jutta Urpilainen and representatives of European Union Member States met with Caribbean countries on the side-lines of SIDS4. The areas of opportunities included the fight against sargassum, digital transition, maritime connectivity, water, and energy. Caribbean countries were able to present their priorities and engage with EU investors. According to an EU statement on Tuesday, it was the first political level meeting between the Caribbean and the EU since the signature of the Samoa Agreement in November 2023, which provided a framework for the EU’s cooperation with 79 countries of the Organisation of African, Caribbean, and Pacific States. T&T was represented at the meeting by the Minister of Planning and Development, Pennelope Beckles.