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© 2025 Island Innovation. All rights reserved.

    News

    Curated stories and analysis from islands and sustainability leaders worldwide.

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    Showing 9 of 90 news items in Green Finance & Economy
    Atlantic Spaceport Consortium to Explore Azores Launch Facility
    Green Finance & EconomyAugust 16, 2024

    Atlantic Spaceport Consortium to Explore Azores Launch Facility

    Excerpt and Photo from europeanspaceflight.com Portugal’s Atlantic Spaceport Consortium has signed a cooperation agreement with NAV Portugal to support commercial feasibility testing of building a launch facility on the island of Santa Maria. The Atlantic Spaceport Consortium (ASC) was founded in 2019 with the aim of building a commercial spaceport on the island of Santa Maria, approximately 1,500 kilometres off the coast of the Portuguese mainland. The consortium is entirely composed of the Portuguese companies Ilex Space and Optimal Structural Solutions. On 13 August, ASC announced that it had signed a cooperation agreement with NAV Portugal, the country’s national air navigation service provider. NAV Portugal is responsible for managing and controlling air traffic within Portugal’s airspace. Under the cooperation agreement, the pair aim to define the guidelines that a future spaceport will need to adhere to when launching from Santa Maria. This includes defining exclusion zones, examining how to monitor and authorize launch activities, and studying under what conditions to impose partial or total launch restrictions for safety reasons.

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    Dominica hosts Caribbean Youth Forum on Environment and Development, promotes sustainability
    Green Finance & EconomyAugust 16, 2024

    Dominica hosts Caribbean Youth Forum on Environment and Development, promotes sustainability

    Excerpt and Photo from writeups24.com Dominica is hosting the Caribbean Youth Forum on Environment and Development (CARYFED) with a vision to promote sustainable tourism by making optimum use of environmental resources and conserving natural heritage and biodiversity. This forum is running in the island nation from 7th August and will continue till 17th August 2024 under the theme “Sustainable Eco-Tourism in the Caribbean.” For the same, the Discover Dominica Authority has partnered with Project Discovery Dominica- PODOM for the successful execution of the [forum](https://writeups24.com/dominica-to-host-inaugural-oecs-youth-in-agriculture-symposium/). Project Discovery Dominica is the established local chapter of CARYFED that is dedicated to empowering pre-university students. It offers exciting opportunities for young people and are dedicated to nurturing talent, fostering innovation, and empowering the next generation of leaders across the island.

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    Indonesia’s sea nomads turn to jobs on land
    Green Finance & EconomyAugust 5, 2024

    Indonesia’s sea nomads turn to jobs on land

    Excerpt and Photo from voanews.com Sofyan Sabi’s sea-dwelling community has fished beneath the waves off the Indonesian coast for centuries, but climate change and overfishing have forced him and many of his contemporaries on land to make a living. The Bajau tribe of fishermen led a nomadic life at sea for generations, spending days and nights on boats with thatched roofs in the waters between Indonesia, Malaysia and the Philippines. Members of the tribe learn to dive from a young age, and their bodies have adapted over time to allow them to fish underwater for longer periods, researchers say. But for the hundreds of Bajau people living on the tiny boardwalk island village of Pulau Papan in Indonesia, their ancestors’ unique way of life has all but died out.

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    Empowering Pacific Island countries to advance their hydrological and water resources capacities
    Green Finance & EconomyAugust 5, 2024

    Empowering Pacific Island countries to advance their hydrological and water resources capacities

    In a significant stride towards enhancing disaster preparedness and resilience in the Pacific, a pivotal workshop was held in Nadi, Fiji, aimed at initiating the Pacific Early Warning Systems for Flood and Flash Flood Guidance System projects. This workshop brought together representatives of National Meteorological and Hydrological Services (NMHSs) and National Disaster Management Offices (NDMOs) from six countries—Fiji, Kiribati, Samoa, Solomon Islands, Tonga, and Vanuatu—with the collective goal of establishing a robust, regional approach to managing and mitigating flood-related risks. The two projects are being supported by the United States Agency for International Development through its Bureau for Humanitarian Assistance (USAID/BHA). Floods including flash floods are recurrent threats in the Pacific region, often leading to significant loss of life and property. The workshop provided a platform for sharing knowledge and challenges in the Pacific for early warning systems. Experts in hydrology, meteorology, and disaster risk management engaged in discussions and breakout sessions, focusing on the development and implementation of the two projects tailored to the unique climatic and geographical conditions of the Pacific islands.

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    Caribbean anti-corruption chiefs endorse AI solutions to tackle illicit financial flows
    Green Finance & EconomyJune 28, 2024

    Caribbean anti-corruption chiefs endorse AI solutions to tackle illicit financial flows

    Excerpt and Photo from thecommonwealth.org **Heads of anti-corruption agencies in the Commonwealth Caribbean concluded their annual conference in Nassau, The Bahamas, last week with a unanimous pledge to leverage artificial intelligence (AI) in the fight against corruption.** Commissions and Anti-Corruption Bodies was hosted by the Commonwealth Secretariat and the Bahamas Public Disclosure Commission as well as the Association of Integrity Commissions and Anti-Corruption Bodies in the Commonwealth Caribbean, under the theme, **‘Best Practices in implementing Integrity and Anti-Corruption Laws in the Caribbean in the age of Artificial Intelligence’**. Towards the end, delegates from Commonwealth Caribbean countries also adopted a communiqué, outlining key priorities and recommendations for member countries to implement over the coming years. They also agreed to enhance collaboration at international, national, and regional levels to bolster anti-corruption efforts.

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    Mauritius’ next growth phase: a new plan is needed as the tax haven era fades
    Green Finance & EconomyJune 21, 2024

    Mauritius’ next growth phase: a new plan is needed as the tax haven era fades

    Mauritians will head to the polls [by November 2024](https://africacenter.org/spotlight/2024-elections/mauritius/) and politicians are considering the economic direction of the island country. For the last two decades, the country’s economic growth has depended heavily on its offshore sector – the provision of financial services by banks to foreign firms. As an isolated country located in the south-western Indian Ocean, Mauritius has linked itself to global financial sectors by easing the flow of capital into and out of its economy. It has signed double taxation avoidance agreements with other countries, and its capital gains taxes are attractively low. Through double taxation avoidance agreements, foreign entities can establish funds in locations outside their home countries, to take advantage of lower taxes.

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    Azerbaijani president moots creating fund for “small island states”
    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.

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    Beyond GDP: Cayman needs a new yardstick for measuring success
    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.

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    Brain drain, ageing, slow growth facing Caribbean populations
    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.

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