Wednesday, 8 December 2010

Denmark commits its fast start finance to develop renewable energy facility for AOSIS

By Makereta Komai, Climate Pasifika Media in Cancun, Mexico

8 DECEMBER 2010 CANCUN --- Promises of fast start finance has begun to flow to small islands developing states (SIDS) in the form of assistance for renewable energy and increased energy efficiency projects.

The government of Denmark has committed US$14.5 million of its US$55.3 million committed for 2010 towards renewable energy programmes in SIDS.

Danish special envoy for climate change, Lykke Fris said her government was delighted to finally make fast start finance available to countries that need to adapt and mitigate against the impacts of climate change.

Lykke fris, Denmark's climate change envoy
“It’s now time for little conversation and more action, said Fris.

As promised in Copenhagen in 2009, Denmark has pledged US$207 million for fast start finance for the period 2010-2012. Of that amount, 52 percent is dedicated to mitigation and 48 percent to adaptation and capacity building.

The regional renewable energy and energy efficiency projects for islands in the Caribbean, Pacific and Indian Ocean will be jointly implemented by the Word Bank and the United Nations Development Programme (UNDP).

Speaking at the signing ceremony here in Cancun, UNDP’s administrator, Helen Clark welcomed Denmark’s financial support saying savings from renewable energy will go a long way in improving the livelihoods of people living in small islands states.

“Most SIDS spend 30 percent of their foreign exchange on fossil fuels. Savings from this project will free up money for other development priorities, including adaptation to climate change, said Clark.

Representing AOSIS, the Prime Minister of Grenada, Tilman Thomas pointed out that the latest scientific evidence was a major concern for island states and that the global community needed to urgently transform the energy sector in order to reduce greenhouse gases (GHG) emission.

“Failure to bring about a transformation of the energy sector to GHG emission below 1990 levels within the next decade will see the end of many small island states as viable countries, and many will disappear into the oceans, and others will be significantly reduced in size losing their major economic assets.

Launch of SIDS DOCK at COP 15 in Copenhagen
The Small Island Developing States Sustainable Energy Initiative called SIDS DOCK was developed to provide a DOCKing station facility which provide island states with easier access to financing, technology, technical assistance, and to participate in the global carbon market.

For more on SIDS DOCK please visit:

No comments:

Post a Comment