By: Staff Writer
July 22, 2022
The Caribbean Export Development Agency (CEDA) and The Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) signed a Memorandum of Understanding (MoU) to partner on “grand challenges.”
Deodat Maharaj, executive director of CEDA said at the webinar announcing the partnership that this MoU “gives more mandates which are really very much aligned. CEDA is excited to be working with CREEE to tackle the grand challenges which our region must confront. It’s not really an option. It’s an imperative.”
He continued, “Firstly, global climate change, second, building sustainable and affordable energy systems and third, poverty reduction through private sector development. By now the issues associated with the immense challenge of climate change are well understood globally and certainly in our region, especially in the context of small and vulnerable small island developing states like those in the Pacific and the Caribbean two of the most climate vulnerable regions on the planet.”
Climate change remains the single greatest threat to the livelihoods, security and wellbeing of the peoples of the Caribbean and likewise the Pacific island states. The IPCC remains committed to highlighting the threats climate changes brings to both regions.
The IPCC is a United Nations body established in 1988 by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP) to assess the science related to climate change. Essentially, it’s a coalition of volunteer scientists from around the globe charged with compiling existing data about climate change. Utilizing more than 14,000 peer-reviewed studies, this report predicts the possible futures of climate change in order to inform and educate global policymakers.
Mr Maharaj also said: “It is now indisputable that our region will increasingly bear unique vulnerability, and susceptibility to climate change externalities, such as more frequent and severe hurricanes, sea level rise, ocean acidification and heat extremes, unless drastic actions taken to limit global warming to significantly below two degrees above pre industrial levels. These vulnerabilities present a severe threat to the livelihoods of all Caribbean people making climate change mitigation or adaptation, top priority for us.”
Caribbean countries are not the cause of their climate crisis. The United Nations Economic Commission for Latin America and the Caribbean said that Latin America and the Caribbean contributes less than 10 percent of total greenhouse gas (GHG) emissions, mostly from the energy sector, agriculture and land use change. Despite this, Caribbean countries “must act now” to address this problem despite not being the creator of it, Mr Maharaj urged.
How the Caribbean can act is with regard to changing policy focus towards revitalising the private energy sector, considering that the cost of energy in the Caribbean is among the highest in the world. Mr Maharaj estimates that 400,000 can be created in the Caribbean if investment in decarbonisation would be taken more seriously in the region. “Additionally, the International Renewable Energy Agency estimates that for every US dollar invested in energy transition, and additional US 93c, almost the same dollar of GDP growth will occur above the business as usual scenario in the region,” he added.