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    News

    Curated stories and analysis from islands and sustainability leaders worldwide.

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    Showing 9 of 86 news items in Green Finance & Economy
    SIDS4 President calls for increased financial support
    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.

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    EU investors meet with Caribbean reps at SIDS4
    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.

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    Small island nations can achieve prosperity by empowering the private sector
    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).

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    SIDS4 draft outcome document lacks depth regarding equitable development financing
    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**.

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    CANARI at the Fourth International Conference on SIDS (SIDS4)
    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.

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

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    South Aegean: A hub of sustainability and innovation
    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.

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

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    Achieving Resilient Fiscal Sustainability for SIDS
    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.

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