By: Staff Writer
September 19, 2023
The Caribbean Community (CARICOM) Chair, Prime Minister of Dominica, Roosevelt Skerrit, told the Group of 77 plus China summit that due to the need to combat climate change and grapple with renewable energy challenges in developing states in the Caribbean along with advancing medical and marine sciences, the region will continue to be “active participants,” in all of these areas as a way to accessing the innovation needed for these critical areas to develop.
Mr Skerrit noted: “From where I stand, I must admit to you that without solidified multilateral agreements and engagements, developing countries will continue to face significant challenges and accessing the innovation urgently required.
“To this end, the Caribbean, particularly small island states, has sought to ensure that we continue to be active participants in the realm of science and technology. From renewable energy projects and medical sciences innovations to ground-breaking research in marine biology, agriculture, and climate resilience.
“The region continues to demonstrate our commitment to harness in science and technology for sustainable development. Conversely, to create a more conducive environment for investment and growth, we all recognized the need to promote strategic harmonization of technological policies, and the legal and regulatory environment.”
The Group of 77 (G77) at the United Nations (UN) is a coalition of 135 developing countries, designed to promote its members’ collective economic interests and create an enhanced joint negotiating capacity in the United Nations. There were 77 founding members of the organization headquartered in Geneva, but it has since expanded to 135 member countries. Cuba held its chairmanship for 2023, succeeding Pakistan.
The two-day Summit of the Group of 77 (G77) and China concluded on Saturday in Havana with a call for more participation and say of the Global South in the global governance system.
Prime Minister of The Bahamas, Philip Davis, KC, also noted the challenges for developing Caribbean states when dealing with the climate change crisis and how it is impacting access to much needed resources from the global community, particularly catastrophic insurance coverage.
Mr Davis warned that if The Bahamas remains on the European Union’s (EU) non-cooperative tax blacklist following next month’s review then local homeowners and businesses could struggle to claim the full insurance payout due to them in the aftermath of a severe hurricane.
This goes equally for every country in the Caribbean because all can be affected by Hurricanes at one point and time.
Mr Davis added: “The effect of the climate crisis is felt disproportionately by small developing countries like The Bahamas. This is exacerbated by the arbitrary blacklisting of these same vulnerable countries such as The Bahamas from the very same countries that are responsible for the climate crisis.
“For example, when it comes to insurance, these blacklists result in any remittances from European reinsurers on claims being automatically reduced by at least 25 percent. A significant percentage of the monies owed is punitively retained by the EU. We are thus poorer and less able to rebuild because of the effects of the climate crisis.”