BASSETERRE, St Kitts, 9 October 2024 – Minister of Sustainable Development, Environment, Climate Action & Constituency Empowerment, Hon Dr Joyelle Clarke continues to further the climate action agenda in global hemispheres as she was featured in a session titled Climate-Proof Debt Solutions to Enhance Resilience in Developing Economies at the Hamburg Sustainability Conference in Hamburg, Germany on Tuesday 8 October 2024.
Minister Clarke highlighted several ways in which Small Island Developing States like St Kitts and Nevis as well other developed countries can prevent potential debt crises and ensure longterm financial stability.
- Access to Concessional Finance
- A Shift in Concessional Lending Terms
- Alignment with International Agreements
- Investment in Loss and Damage Resources
- Integration of and Adherence to the Multi-Dimensional Vulnerability Index
Dr Clarke referred to The Bridgetown Initiative that calls for decisive action as it relates to the reformation of the international financial architecture.
She said, “Finance providers are called to include climate vulnerability, disaster risk management and recovery, natural capital and biodiversity conservation needs as considerations in the criteria for allocating concessional finance. This can directly help to mitigate inequalities especially for countries like Saint Kitts and Nevis who are classified based solely on GDP per capita.”
The Minister also made reference to the Antigua and Barbuda Agenda for SIDS (ABAS), the outcome document of the 4th Conference for Small Island Developing States (SIDS4) held in Antigua in May 2024. She highlighted the Agenda’s robust and detailed actions that focus on building resilient economies by addressing persistent development challenges.
In another session titled Re-Designing Economic Systems for a Sustainable Future, Minister Clarke called into focus the current socioeconomic architecture of the global community, which she said is not fit for purpose. She added that, “For some indeterminate reason, it continuously fails to center the needs of those most vulnerable in substantive ways. Small Island Developing States, developing and least developed countries have been, throughout the progression of
international affairs, left to fend for themselves.”
Instead, she proposed ways through which countries can reshape their economic systems in order to prioritize and, in turn, manifest the sought after sustainable future beginning with communities being treated as the bedrock of societies.
She said, “Our local communities house the lived experiences – the real flesh and blood people who we are working not to leave behind”. She encouraged investment in social justice and protections to ensure that re-designing efforts can channel down to the perceived “least” among us. This, she explained, equips people with the tools necessary to usher in and foster a culture of sustainability.
Minister Clarke cemented her presentation by asserting that progress towards a sustainable future means innovation: advanced technologies, renewable sources of energy and effective waste management, with a sustainable future premised on resilience.
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