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Showing 9 of 84 news items in Green Finance & Economy

Green Finance & EconomyMay 28, 2024

Small island nations can achieve prosperity by empowering the private sector

Photo: President’s Office. Retrieved from edition.mv President Dr Mohamed Muizzu has declared that resilient prosperity for Small Island Nations (SIDS) can only be achieved by empowering the private sector and handing them the helm. Speaking at the High-level Closing Ceremony of the SIDS (Small Island Developing States) Global Business Network (GBN) Forum 2024, held at Antigua and Barbuda today, President stated that the key economic role of private sectors in facilitating innovation, technology, community empowerment and market trade is particularly essential for Small Island Nations (SIDS). He had asserted the need to prioritize inclusivity within local communities, making three key points for this aim. The first point he had presented had highlighted the necessity of facilitating and promoting investments for young entrepreneurs as well as micro, small, and medium enterprises (MSMEs).

Green Finance & EconomyMay 27, 2024

SIDS4 draft outcome document lacks depth regarding equitable development financing

Photo credit: Stefanie Lauchman. Retrieved from climatetrackercaribbean.org The Small Island Developing States (SIDS) are gearing up to attend the [fourth SIDS](https://sdgs.un.org/conferences/sids2024) conference in Antigua & Barbuda. According to Albert Ramdin, Minister of Foreign Affairs, International Business & International Cooperation (BIBIS) in Suriname, the issue of equitable development financing should certainly be a high priority on the agenda. Ramdin was supported in this stance by Rueanna Haynes, a specialist in international climate legislation and Director of Climate Analytics Caribbean. According to Haynes, the draft text of the outcome document for SIDS4, called the Antigua & Barbuda Agenda for SIDS (ABAS), lacks depth in addressing the issue of equitable development financing. Ramdin argued that SIDS have been sidelined for a long time compared to the rest of the world but are now fulfilling an increasingly significant role. **“Therefore, during the SIDS4 conference, a new direction must be developed for the small economies of the world,” he stated**.

Green Finance & EconomyMay 25, 2024

CANARI at the Fourth International Conference on SIDS (SIDS4)

Excerpt and Photo from canari.org/ CANARI has been mobilising civil society to have a strong voice calling for people’s priorities on the ground to be included in the new 10-year sustainable development agenda and for this to be translated into real action on the ground. As part of this, we facilitated dialogues with Caribbean civil society and developed **The Caribbean We Want** position paper which we have been using to advocate at inter-governmental meetings and directly with Caribbean governments. CANARI is also encouraging Caribbean civil society to actively participate in the SIDS4 process by **endorsingThe Caribbean We Want**and advocating that their Governments support a meaningful role for civil society in delivering sustainable development in our region.

Green Finance & EconomyMay 24, 2024

Seychelles to have new research station on Aldabra Atoll and “Aldabra House” on Mahe

The Seychelles Islands Foundation (SIF) will undertake the construction of the Aldabra House at Providence and rebuild the research station on the Aldabra Atoll in the coming months to improve its services. The Royal Society, one of the oldest scientific societies in the world and also the United Kingdom’s National Academy of Sciences, built the Aldabra research station during the colonial era, and work was completed in June 1971. The station is administered today by the SIF, a non-profit charitable organisation established as a public trust by the government of Seychelles in 1979. SIF manages and protects Seychelles’ two UNESCO World Heritage Sites – the Aldabra Atoll and the Vallee de Mai Reserve on Praslin Island – the second most populated island. The chairperson of the SIF board of trustees, Bernard Georges, told reporters, “There is a need to rebuild the station as there has been erosion at the site, and we now have to move the building.”

Green Finance & EconomyMay 17, 2024

South Aegean: A hub of sustainability and innovation

**Astypalaea, Halki and Tilos. You may not have heard of these small, remote Greek islands in the South Aegean, but they all share something in common: ambitious goals despite their small size.** For decades, islands like these have been considered merely remote stops on ferry routes that had to be supported by state subsidies – no business wants to operate at a loss. They were considered unprofitable compared to the big islands like Santorini and Mykonos, which attract large numbers of visitors. Today, however, these islands are attracting global attention for their green prospects and innovation-focused initiatives. The trio is adopting a range of measures of environmental conservation, sustainability and innovation, some of which are shining examples of best practice.

Green Finance & EconomyApril 11, 2024

Why Time Is Running Out Across the Maldives’ Lovely Little Islands

To live in the Maldives is to live in one of two worlds. Either you belong to the capital — Malé, a micro-Manhattan in the Indian Ocean — or you are out in “the islands,” among the quietest and most remote villages this side of the Arctic tundra… The outer islands are steadily depopulating, as the appeal of making a life through tuna fishing and coconut farming along their crushed-coral seashores shrinks. The splendid isolation may be what attracts visitors, but it seems incompatible with islanders’ aspirations in a nation modernized by global tourism. As Maldivians give up on island life, the government feels compelled to keep building up Malé, the country’s one real city. But Malé is already pressed up hard against the limits of human habitation.

Green Finance & EconomyApril 11, 2024

Achieving Resilient Fiscal Sustainability for SIDS

Excerpt and Photo from thecommonwealth.org The year 2024 provides a crucial opportunity to accelerate action and implementation strategies to ensure resilient fiscal sustainability and stronger risk mitigation arrangements against exogenous shocks for Small Island Developing States (SIDS). The EU Copernicus Climate Change Service evidence shows that global warming during February 2023 to January 2024 reached 1.52C. This suggests growing existential threat for SIDS with potentially frequent and more severe hurricanes. Mauritius, for example has already experienced three successive cyclones in 2024. SIDS constitute rich cultural heritage and diversity spanning across different regions in the Caribbean, the Pacific, and Africa. SIDS have strong global interlinkages based on their heritage, culture, economic and geopolitical locations. Many are actively engaged in building resilience for adaptation and mitigation against their existential threats. Belize and Malta, for example have been diversify their tourism industries, whilst Mauritius has been undertaking economic diversification. General government debt accumulation in most SIDS is significant. During the covid-19 pandemic, SIDS registered a sharp debt increase in terms of absolute values and as a share of GDP leading to debt distress levels in some SIDS economies. Consequently, SIDS have taken the lead in pursuing innovative financing instruments that reduce public debt and create the necessary fiscal space for essential investments, including economic diversification, especially those related to climate resilience.

Green Finance & EconomyMarch 28, 2024

Prince Edward Island Leading by Example

As a young person from the vibrant island nation of Trinidad and Tobago, I am thrilled to share my excitement about attending the upcoming [Global Sustainable Islands Summit 2024](https://islandinnovation.co/events/global-sustainable-islands-summit/), set to take place in the enchanting province of Prince Edward Island (PEI). This summit holds immense promise, not only in terms of professional development, but also in the opportunity it presents to explore and contribute to the crucial dialogue surrounding sustainability and green technology. PEI’s commitment to achieving net-zero emissions by 2040 is commendable, and sets a remarkable precedent for islands worldwide. It’s inspiring to witness a place — Canada’s smallest province, nestled in the Maritime region — dedicated to propelling renewable energy and embracing green initiatives, aligning perfectly with my aspirations for a more sustainable future. The summit’s venue, the renowned Rodd Crowbush Resort, promises to provide an ideal setting for meaningful discourse and collaboration. From state-of-the-art meeting facilities to tranquil oceanfront views, every aspect seems meticulously designed to foster productive discussions and moments of reflection alike.

Green Finance & EconomyFebruary 13, 2024

Bridging the sustainability gap between Caribbean Nations

Excerpt and Photo from climatetrackercaribbean.org “It is imperative that we devise strategies to bridge the sustainability gaps between Island Nations.” Words from James Ellsmoor, founder and Director of Island Innovation, a network operating across island communities across the globe. Serving as a beacon of hope in the Caribbean, the organization’s major role is to convey people and stimulate information-sharing to implement innovative solutions to pressing environmental challenges. For years, Island Innovation has spearheaded sustainable development in the Small Island Developing States (SIDS). The organisation does not directly implement projects on the ground. Rather, they have a network of non-governmental organizations, the private sector, media, universities and academia and serve as a bridge across all these sectors whilst considering their respective roles.