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  • 1 year ago
Climate activists are saying there is an urgent need for action, amidst unprecedented hurricane activity in the Caribbean.

Transcript
00:00Climate change analysts are saying that Barrow making history as the earliest Category 5
00:06hurricane is the reason governments of the Caribbean, who are among small island developing
00:12states, need to take climate change seriously.
00:15The analysts, like Ruana Haynes, say this is exactly what they've been predicting for
00:20decades.
00:22She told the climate analytics Caribbean mid-pointer Copper Vent that enough progress has not been
00:28made and the limit of 1.5 degrees Celsius above pre-industrial levels set out in the
00:35Paris Agreement has not been met.
00:37Parties are dialing back all of that, reinterpreting the agreements that were made, insisting on
00:49very political positions that are designed to ensure that there is little to no implementation
00:57of the decisions that we took last year.
01:01At the upcoming COP29, the big issue, Haynes says, will be climate finance and the new
01:06collective quantified goal to replace the previous $100 billion goal.
01:13We expect to have a new global goal for climate finance, a new figure to replace the $100
01:22billion.
01:23As we all know, money talks.
01:25A couple of weeks ago, the Minister of Energy was speaking about the transition and what
01:32it means.
01:33His basic question was, but who is going to pay for that?
01:38You can be sure that in many countries, even countries where the main economic sector is
01:45not oil and gas, that is also the question.
01:51Where is the money?
01:52Who is going to pay for this, especially for countries that have not caused the problem?
01:58Another major point of discussion is the loss and damage fund to be accessed by countries
02:03experiencing ill effects of climate issues.
02:06The fund has been capitalized and there have been pledges of up to $700 million, but this
02:13amount is more like pocket change, according to the panelists.
02:18When Hurricane Maria devastated Dominica in 2017, the losses and damages, those costs
02:30were in the order of about $1.4 billion for that single climate event.
02:37That is one country and that is one extreme loss and damage event.
02:43You could definitely see the scale of loss and damage finance is woefully insufficient.
02:52Haynes also shared that there will likely be significant political attention on carbon
02:56markets, which are being considered by some as an innovative source of financing and an
03:02opportunity to incentivize.
03:04Everybody wanted to go to Dubai.
03:06Nobody wants to go to Baku.
03:09Apples and oranges.
03:13But the core of this really goes to this notion of participation and what do we mean when
03:20we say we need to make these spaces more democratic and more representative and we need to have
03:27more participation.
03:30No country has gotten it right as yet.
03:34The Dubai model was an all-comers type of model.
03:40It was glitz and glam and flash in the culture that they have there.
03:47Arvishi Tiwari, Rubin Ryan, TV6 News.
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