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US$10B nowhere close to what is required – Jagdeo
…Guyanese leader urges poor, developing nations to remain focused on bigger picture
By Gary Eleazar in Trinidad
Head of State Bharrat Jagdeo told regional and international media operatives yesterday during an impromptu press briefing that the stakeholders in the mitigation and adaptation against climate change should not be distracted by the proposed US$10B but must remain focused on the bigger picture, namely the close to US$300B that is required.
According to Jagdeo, he was confident that the money will be forthcoming, but the donors must ensure and develop a new way of disbursing the funds so that it could be handed out quickly.
He did stress, however, that it must be acknowledged that while the money is useful, it is in nowhere close to the vicinity of what is required to effectively achieve the required goals.
He noted that in doing so they must still ensure that there is transparency and accountability in the process.
Jagdeo expressed that sentiment adding that, “we don’t want some corrupt persons to steal the money.”
He pointed out that to get the developed world to commit to what is required could be a difficult task in that they may balk at the figure.
As it relates to the proposed cuts by the US and China, Jagdeo said that what is on the cards in the US was also nothing close to what is required, but he opined that with the Barack Obama administration there has been a positive shift in policy, citing the fact that up until recently, the country was in denial as to what the scientists were saying about Climate Change as well as the fact that they did not sign the Kyoto Protocol.
As it relates to China on the other hand, he said that their proposal is significant but they will need help in the long run in light of their plan to desist from using non-renewable fuel to supply electricity.
In relation to the Heads of Government Meeting, the Guyanese leader noted that there were some strategic issues for Guyana and the region – climate change and its impact and the need for significant adaption fund.
The other aspect of the meeting that is important for the region, according to Jagdeo, has to do with his role as the head of the economic task force. He said that as he has consistently argued, the model of economic development that the region is developing is not sustainable development, and is not the way to go, given the peculiarities of the region, and that has to be addressed.
He was responding to the issue of the environment, in which the region uses massive amounts of its revenue servicing debts and as such, capacity and fiscal space are not available to respond to the crisis.
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