Minister Orlando Habet echoes UN General Secretary’s call for financial and climate justice

As Belize shines in its performance under the Blue Bond initiative, the country is strapped for cash to address climate change and mitigation plans.  Minister of Climate Change, Orlando Habet, echoed the UN Secretary General address where he calls for financial and climate justice from the developed countries that are responsible for the highest carbon emissions and greenhouse gasses.

Orlando Habet, Minister of Sustainable Development: “Belize along with the other Caribbean islands, as a matter of fact SIDS in general produce only about 0.1% of the total emissions. Yet we are amongst the countries with the greatest vulnerabilities and most highly affected by the catastrophic events occasioned by climate change. We have been like the other states clamoring for financial assistance not only in loans but also for grants. But also in terms of concessionary financing. We cannot continue to be borrowing especially for countries that are indebted small economies like ours to continue borrowing at high interest rates so we need concessionary rates. But we have been struggling with those international financial institutions that don’t afford us some of those opportunities for lower interest rates. Apart from that you also have to look at the potential for alternative financing. There is what they call the special drawing rights. These are monies that are deposited into accounts where certain countries can apply for it based on circumstances but as it is the entire developing world is getting less than 5% of the SDR while the developing countries and medium to large countries are getting the larger portion of the special drawing rights monies and that has been one of the clamors that was put into the Bridgetown initiative by Prime Minister Mia Mottley. And now they are now looking at a third phase of that Bridgetown Initiative trying to get Bridgetown 3.0. So we have to look at alternative financing.” 

Minister Habet’s presentation was at the 4th International Conference on Small Island Developing States (SIDS4) underway in Antigua and Barbuda.  Also attending the event is Belize City Mayor, Bernard Wagner.  Wagner is attending as the Chairman of the Commonwealth Local Government Forum and as a representative for the World United Cities and Local Government Group.