By OSWALD T. BROWN
WASHINGTON, D.C., December 2, 2023 — Prime Minister Philip E. Davis posted a collection of photos on Facebook on Saturday, December 2, 2023, that I absolutely had to share with readers of my online publication, BAHAMAS CHRONICLE, which has a huge following among the Bahamian diaspora across the United States, Canada and the United Kingdom as well as in The Bahamas and the wider Caribbean.
The photos were posted with the following narrative: “In my address today at COP28 in Dubai, I underscored a critical message: Time is running out. As we in The Bahamas face escalating climate threats, our experience is a stark reminder that the window for effective action is closing fast. We need immediate, decisive global cooperation to turn the tide. The time for meaningful change is not tomorrow; it’s today.”
For a small country with a population of slightly more than 400,000, there is no question that Bahamians on both sides of the political divide have every reason to be extremely proud of the fact that Prime Minister Davis has emerged on the world stage as one of the foremost proponents of the need for “effective action” and “decisive global cooperation” to address the escalating concerns about climate change.
This point of view gained tremendous credence in October when Prime Minister Davis had a private audience at The Vatican with His Holiness Pope Francis, during which this topic was among the matters they discussed.
“Today’s pledge sends a critical signal at COP28 that the United States is committed to playing a leading role in helping emerging markets and developing economies mitigate greenhouse gas emissions and adapt to a changing climate,” the U.S. State Department said in a statement released today. “The Green Climate Fund is the world’s largest multilateral climate fund and a much-needed source of concessional finance. The U.S. government is working with the GCF’s new Executive Director and other board members on an ambitious agenda to make it more effective and responsive to countries, and is partnering with the private sector to maximize its impact and stretch every dollar.”
The State Department statement added, “The GCF has established a strong track record of enabling countries to accelerate the energy transition, assisting communities around the world in building resilience to the impacts of the climate crisis, and mobilizing significant private capital for climate action. Through this pledge to support the GCF’s second replenishment and its role on the Board, the United States will help to supercharge these efforts.
“The GCF was established in 2010 to mobilize finance to help developing countries reduce their emissions, strengthen the resilience of their economies and critical infrastructure, enhance energy security through diversification of energy sources, and assist the most vulnerable in these countries to adapt to the impacts of a changing climate. The GCF strives to have a balance between mitigation and adaptation in its portfolio. GCF’s current portfolio consists of $13.5 billion in GCF funding and co-financing of $51 billion across 243 projects. To date, each dollar of GCF investment has attracted approximately $3 of investment from private sector partners, creating investment and growth opportunities for U.S. businesses.
“The United States supported the GCF from its start, providing $2 billion for the Initial Resource Mobilization of the GCF.
“Now, the United States is joining a group of more than 25 countries that have already pledged financial support to the second GCF replenishment. This pledge is subject to the availability of funds.”
The United States delegation to COP28 is led by Vice President Kamala Harris.
