Implementation Plan - CDKN Global

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CARICOM IMPLEMENTATION PLAN FOR THE REGIONAL FRAMEWORK FOR ACHIEVING DEVELOPMENT RESILIENT TO CLIMATE CHANGE4. The private sector has a fundamental role in providing and financingsolutions. Private sector investment has been identified as a significantcontributor to the combined adaptation and mitigation funding target ofUS$100 billion per annum by 2020. Governments (with support) must addressthe private sector risk reward balance in order to access the full range offunding opportunities.Improving country risk profiles will have an added benefit of opening up othernon-climate-related investment opportunities, thereby improving the growthpotential.Engagement with individual companies, representative organisations andprofessional bodies and their inclusion in strategy and policy development isessential.ACTION: Assess and review the risk profiles for each CARICOM member statein partnership with the private sector (operating at national, regional andinternational levels). Identify and implement a 5-year transformationalprogramme to deliver the actions needed to improve the risk balance andattract private sector investment.Timeline: Review within 12 months, implement within 5 years,Lead: CARICOM Secretariat, CDB, national government ministries withresponsibilities for finance and economic development, CICAAttracting privatesector investmentThe Advisory Group onClimate Finance (AGF)was set up to identifyhow the US$100 billioncould be secured andin its report issuedin November 2010 itconcluded that findingthe extra moneywas ‘challengingbut feasible’. Ifthe Caribbean is toattract that part ofthe US$100 billionto be provided by theprivate sector then itmust ensure there isa rebalancing of riskto create sufficientinterest. Investors willonly invest if they cansecure appropriaterisk returns on theircapital.Partners: Caribbean financial services sector, international financialservices sector5. Acting regionally to deliver nationally. The scale of the challenges limits theability of any country acting on its own to build resilience. CARICOM and theregionally-mandated organisations therefore have a key role to play in theexecution of the IP. Working collectively through a regional support structureallows countries to maximise their resources and technical expertise to thebenefit of all.Securing the necessary financial, technical and human resources and politicalsupport to move forward on CARICOM policy initiatives, and meet the needsof member states to deliver sustainable development actions must beacknowledged as key priorities. It is clear that the regional organisationswill need support from the international development community. Buildinga sustainable financial position to allow the regional organisations to meetfuture demand is critical to delivering transformational change.Regional institutions including the CDB can also make an importantcontribution as implementing entities.28
DELIVERING TRANSFORMATIONAL CHANGE 2011-21ACTION: A detailed financial, technical and human resource capacityassessment followed by action planning and implementation must beundertaken for each of the regional organisations (including CARICOM).Sustainable resource strategies should be developed leading to enhancedcapacity to meet the challenges arising from a changing climate. Securinga sustainable financial position to allow all regional organisations to meetfuture demand is critical to the delivery of the <strong>Implementation</strong> <strong>Plan</strong>.Timeline: Capacity assessments to be undertaken within 12 months.Sustainable financial positions to be secured within 2 yearsLead: CARICOM and all regional organisationsPartners: CARICOM, national governments, and donors6. Caribbean states must become low-carbon economies. There is an overridingimperative to improve the resilience of the economies of the Caribbean byreducing the dependency on imported high-cost fossil fuels by improvingenergy efficiency and the development of low carbon energy generation.This would transform economies, lower unit costs of production and enablecountries to increase the resources devoted to resilience building.ACTION: Mapping-out the pathways to reduce the dependency on fossilfuels is an imperative and should be completed as a national priority ineach country within 2 years. This exercise must include a full supply/demand assessment, an economic appraisal, cost benefit analysis and anenvironmental and social impact assessment (ESIA). It must also identifythe existing legislative and regulatory constraints, the incentives (forexample, feed in tariffs) and identify the required enabling legislative andregulatory framework.Investment in public debate and engagement on low-carbon developmentplanning and actions is required to secure national mandates. Thismust include the private sector. The changes required, their scale andimplications necessitate a level of communication and engagement that isperhaps unprecedented.There is an urgent need for countries to identify a portfolio of projects thatcan be presented to donors for the Fast Start financing programme.Timeline: Pathways to be mapped out within 2 years, with Fast Startfinancing programme projects identified within 12 months.Lead: National governments, CARICOM Secretariat.Partners: The private sector, regional organisations, donors and IFIs29
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STRATEGIC ELEMENT 1:Mainstream CC A
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Objective:Reduce GHGemissions throu
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Goal 1:Objective:Limit the effects
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Action Sector orAreaA detailed fina
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Fast-start funding opportunitiesThe
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Party Fast-Start Pledge (2010-2012)
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