Jamaica has become the first country in the English Caribbean to join the ‘Coalition of Finance Ministers for Climate Action’.
The Coalition of Finance Ministers for Climate Action which was launched in April 2019, at the Spring Meetings of the World Bank Group and International Monetary Fund, aims at driving stronger collective action on climate change and its impacts.
The Coalition abides by 7 principles called the Helsinki Principles which promote national climate action, especially through fiscal policy and the use of public finance. These principles are designed to support Finance Ministers to share best practices and experiences on macro, fiscal, and public financial management policies for low-carbon transformation.
A statement from the Ministry of Finance says Jamaica, like other small island developing states, is highly exposed to extreme weather events and climate risks in the face of climate change. Jamaica is among the 30 countries to have joined the Coalition.
“Jamaica is engaged in a strategic approach that will enable us to apply prudent public financial management principles to disaster risk financing. This Coalition is an important platform to highlight the role of fiscal planning in addressing climate change, and the role of partnerships in advancing disaster risk financing” said Dr Nigel Clarke, Minister of Finance.
The head of Jamaica’s Climate Change Division, Una May Gordon, further indicated “Paris Agreement has set the stage of what collectively the world needs to achieve in order to curb greenhouse gas emissions and global warming.”
Jamaica is also co-leading along with France and Qatar the Climate Finance and Carbon Pricing track for the next United Nations Climate Summit to take place in September.