00:00Under the theme of Renewed Energies, a Just Energy Transition for Sustainable Development,
00:06the Finance Minister reiterated that,
00:08the transition to renewable energy must be conducive to long-term social and economical sustainability.
00:16It calls for the creation of a comprehensive energy transition plan,
00:20with clear objectives and timelines for the phased removal of fossil fuels.
00:25He urged caution amongst the echoes of international pressure that may be mounting in certain quarters.
00:56It is easy for spokespersons from advanced diversified economies to insist on the elimination of fossil fuels.
01:05And the extreme weather events affecting many countries in recent years makes this a clear and obvious imperative.
01:15But for countries that have few alternative sources of income, the future will be difficult.
01:22Trinidad and Tobago is an energy-based economy, and therefore we must be careful and prudent.
01:29According to the Minister, it just isn't practical to abandon the production of oil and gas,
01:35referred to in the narrative of reducing carbon footprint and maximizing renewable energy opportunities.
01:42The Minister thanked CAF for their continued assistance to TNT, which is in excess of $1 billion.
01:49CAF has supported us for projects in the road sector, air and sea transportation,
01:55tourism infrastructure, strengthening of our health system, and during the COVID-19 emergency,
02:03as well as, and I saw some members of the Ex-Im Bank here today,
02:08as well as assisting us to capitalize the Ex-Im Bank of Trinidad and Tobago, which is very, very important to us.
02:17Stacey Richards-Kennedy, CAF's Regional Manager, gave us some insight into this year's report.
02:24In presenting today's report, we will examine the triple challenge that our region faces,
02:30reducing greenhouse gas emissions, reducing inequality and poverty,
02:35and closing the income gap with the developed world.
02:39And achieving this requires reversing sluggish growth trends.
02:45It demands political support, robust infrastructure, and innovative financing,
02:52where institutions like CAF can play a crucial role.
02:56Akshaya Goldstein, TV6 News.
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