Caribbean Development Bank chief says ‘no time to waste’ on climate action
The Caribbean Development Bank’s acting president on Wednesday called for immediate action to fund efforts to protect the region’s coastlines and population from the growing impacts of climate change, ahead of a potentially severe hurricane season.
“Climate change is here and now and the Caribbean is on the front lines. We simply don’t have any time to waste,” Isaac Solomon, the acting president, said at the opening ceremony of the bank’s annual meeting in Ottawa, Canada.
Heavily indebted Caribbean nations have long called for wealthy nations and top global polluters to do more to honor their pledges to meet emissions goals, provide climate adaption funds to vulnerable states and consider debt relief.
The issue has gained urgency as the region prepares to enter what is forecast to be a highly active hurricane season.
Solomon said leaders over the next two days would discuss how best to prepare long-term plans regarding climate adaptation and mitigation, energy security and improving logistics for intra-regional trade and food security, in a region that is heavily import-dependent and exposed to global economic shocks.
The bank is also mobilizing resources to meet “critical development needs” in Haiti, which is facing a gang-fueled humanitarian crisis, Solomon said, but warned there were regional challenges regarding implementation of these projects.
Simone Platania, a CDB alternate director representing the bank’s non-regional lending members, said that while a “sizable balance” remained in the bank’s current Special Development Fund cycle – used to tackle poverty – it could be extended or existing funds could be pushed back into the next cycle.
He also said an external independent investigator has concluded its investigation of Hyginus Leon, who stepped down as bank president in April.
Leon had been placed on administrative leave in January pending an investigation whose details were not disclosed. He has maintained the suspension was wrongful, and the change in leadership sparked concerns from leaders across the region.
“Lessons will be learned in the aftermath,” Platania said. “Going forward, we should review arrangements for strong governance and look at procedures and process.”
