Barbados is making a case for new international taxes to support climate vulnerable countries.
Special Advisor on Climate Change to the President of the Inter-American Development Bank, Professor Avinash Persaud, says the topic is expected to be a major talking point during the Global Supply Chain Forum, currently underway on island.
Last year, delegates at the UN’s Climate Change Conference formally agreed to establish a Loss and Damage Fund to help developing countries cope with the effects of climate change.
But notwithstanding the pledges made by developed nations, Professor Persaud notes additional grant money is needed to help capitalise the billion dollar fund.
He notes all the major international development institutions that serve the region are represented at the forum.
They include the Caribbean Development Bank, Inter-American Development Bank and the Development Bank of Latin America and the Caribbean (CAF).
Professor Persaud is reiterating a call for more climate mitigation financing.
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