Jamaica’s PM launches finance strategy for climate action

Jamaica Prime Minister Andrew Holness has launched the Nationally Determined Contributions (NDC) Partnership’s new Finance Strategy, which is aimed at mobilizing urgent funding for climate action.

The NDC Partnership, which Jamaica co-chairs with the United Kingdom (UK), has more than 200 members worldwide, including developed and developing countries, in addition to over 80 international institutions that all work together to fast-track climate change action.

NDC refers to each country’s strategy to cut its own greenhouse gas emissions and build resiliency against the negative effects of a changing climate in accordance with the Paris Agreement.

Jamaica is acutely vulnerable to climate change, lying in the path of destructive hurricanes and susceptible to drought, flooding and extreme heat. On a global scale, its contribution to the emissions heating up the planet is miniscule compared with major economies.

The Partnership’s new Finance Strategy demonstrates the partners’ commitment to accelerating the processes necessary to access climate finance for developing countries at a greater scale in the fight against climate change.

- Advertisement -

The aim is to support the development of regulatory frameworks to attract domestic and international investment, including through central banks; integrate climate plans into national budgets and post coronavirus (COVID-19) economic recovery plans, and identify as well as develop bankable projects with member and private sector investment.

Prime Minister Holness said approximately US$1 billion has already been deployed through the partnership to support countries in laying the groundwork for finance.

He indicated that the new Finance Strategy sends a stronger statement of the NDC Partnership’s continued commitment and sense of urgency to provide even more support.

“Financing the implementation of action on the ground that changes people’s lives for the better must be our focus going forward,” Holness pointed out.

He noted that Jamaica continues to play a leading role in the global response to the climate crisis.

More Stories

Guyana Government to assist sugar workers

Guyana in diplomatic talks with US over Cuban medical missions sanctions

The Government of Guyana is engaged in diplomatic discussions with the United States to address concerns over the expansion of US restrictions on Cuba’s...
Nearly six thousand people killed Haiti in 2024

IACHR expresses concern over worsening security crisis in Haiti

The Inter-American Commission on Human Rights (IACHR) has voiced grave concerns over the escalating security crisis in Haiti, citing a surge in extreme violence...
Owen James

Jamaican media mourns the passing of veteran journalist Owen James

The Press Association of Jamaica (PAJ) has expressed deep sorrow over the passing of veteran journalist Owen James, hailing him as a trailblazer in...
Turks and Caicos

US warns Americans not to travel with firearms or ammo to Turks and Caicos

The U.S. Department of State has issued a forceful warning to American travelers, urging them to leave all firearms and ammunition at home when...
Barbados to host 69th CARPHA

Barbados to host 69th CARPHA Health Research Conference focused on mental health

Barbados will host the 69th Annual Health Research Conference of the Trinidad-based Caribbean Public Health Agency (CARPHA) from May 7 to 9, with a...
Stuart Young

Stuart Young to be sworn in as Prime Minister of Trinidad and Tobago on March 17

Energy Minister Stuart Young is set to be sworn in as Prime Minister of Trinidad and Tobago on March 17, following Dr. Keith Rowley’s...
Issa Trust Foundation

Issa Trust Foundation expands neonatal training in Jamaica

From February 28 to March 14, 2025, the Issa Trust Foundation spearheaded a critical initiative to enhance neonatal care in Jamaica by providing specialized...
eGov Technology Showcase

Jamaica advances digital transformation at eGov Technology Showcase

The future of Jamaica’s digital transformation took center stage at yesterday’s eGov Jamaica Limited GOJ Digital Government Technology Showcase at the Jamaica Pegasus. The event,...
Jamaica tufton

Jamaica’s health minister: No evidence of forced labor among Cuban medical workers

Jamaica's Health and Wellness Minister Dr. Christopher Tufton has dismissed concerns that Cuban medical professionals working in Jamaica are victims of forced labor, reaffirming...
imf

IMF highlights St. Lucia’s strong economic performance

The International Monetary Fund (IMF) has commended St. Lucia’s economic recovery, citing strong growth in tourism, construction, and manufacturing. In its 2024 Article IV consultation,...

Latest Articles

Skip to content