The Tribune

By LEANDRA ROLLE

Tribune Staff Reporter

lrolle@tribunemedia.net

PRIME Minister Philip “Brave” Davis said the wealthiest countries in the world, including the United States of America and China, did not pledge enough to the loss and damage fund COP28 delegates agreed to establish during a recent meeting of the major climate conference in Dubai.

His comments came while delivering a lecture on the urgency of climate action at St John’s University in Minnesota on Monday as part of the 17th annual CSB/SJU Eugene J McCarthy Lecture Series.

The loss and damage fund would help small island developing states (SIDS) like The Bahamas.

 Mr Davis said the pledge to introduce the fund is a step in the right direction, but questioned when money will be pumped into the account.

 “Together, the nations of the world pledged $700m to the fund –– a great first step –– but just a first step,” he said. “As I said, a single storm can cause billions in damage.”

 “The amount pledged covers approximately 0.2 per cent of the damage developing nations are facing each year. And just in case you wanted to know what the breakdown of the pledged amounts look like: The host country, the United Arab Emirates, pledged $100 million, which was matched by Germany and surpassed by both Italy and France. The world’s third-largest economy, Japan, pledged $10 million.”

 “And what about the two largest economies in the world? The US pledged $17.5m, while China has yet to make a commitment.

 “Of course, every step in the right direction is appreciated. But as the world gets closer to the tipping point from which there will be no return, we have to move past taking baby steps in the right direction and begin sprinting to our destination. Surely, we can all do more. And is it too much to expect that the wealthiest among us do a lot more?”

 Hurricane Dorian caused The Bahamas $3.4bn in loss and damages.

 Mr Davis noted that countries like The Bahamas, which contribute the least to climate change, often bear the worst consequences.

“Some,” he said, “may wonder why it is the responsibility of wealthier nations, who have worked hard to achieve their success, to provide help to developing nations?”

 “Well, first and foremost, it is now a settled principle that, it is fair and just that ‘the polluter pays’. Our strong view is that, in this regard, we must all embrace this principle.”