Latest update November 26th, 2024 1:00 AM
Mechanism to access initial fund not in place as yet
Climate Change fight…
– Jagdeo
The mechanism that is to be used for vulnerable countries to access the $30B that has been pledged by some developed countries, has not been devised as yet.
This is according to Head of State, Bharrat Jagdeo, during a recent press briefing where he updated local media operatives as to the state of play following the climate change conference in Copenhagen, Denmark.
“We are hoping for sometime early next year.”
President Bharrat Jagdeo
The President, following the announcement of the pledge, had initially said that he would like to have the countries accessing the money to have some amount of say in how the monies would be spent.
Speaking to some local and international media operatives last October in Trinidad and Tobago at the Commonwealth Heads of Government Meeting, Jagdeo pointed out that if a country such as Guyana believes that one way in which to spend the money would be to plant mangroves then they should “be able to have a say.”
French President Nicholas Sarkozy, who was invited to the 2009 CHOGM to lend weight to the Climate Change position, had announced a $10B fund for poor and developing countries.
This money, according to Sarkozy, will be made available from 2010 to 2012.
According to Sarkozy, “we (developed nations) must help them (poor and developing nations) financially.
Jagdeo in his post Copenhagen press briefing said that a legally binding agreement is necessary prior to the scheduled 2010 meeting in Mexico, pointing out that the alternatives would be catastrophic.
The legally binding agreement he was referring to relates to monies needed to fund mitigation and adaptation measures by countries that are most vulnerable to the adverse effects of Climate Change.
Jagdeo is on record as saying that the proposed US$10B over the three years is nowhere close to what is required, rather it would be more in the vicinity of US$300B.
According to Jagdeo, the donors must ensure and develop a new way of disbursing the funds so that it could be handed out quickly.
He noted however 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 since they may balk at the figure.
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