New paradigms and innovative solutions are required to chart a resilient and sustainable energy future for small island developing states (SIDS).
Barbados’ Minister of Energy and Business, Senator Lisa Cummins, expressed this view Monday, as she addressed the SIDS Ministerial, being held in the margins of the 14th Session of the IRENA Assembly, in Abu Dhabi. Barbados was appointed as Chair of the SIDS Ministerial.
Senator Cummins stated that SIDS’ commitment to accelerating energy transitions had been heavily focused on the electricity sector. “But resilience and sustainable development demand that we agitate for the decarbonisation of the transportation and other end-use sectors….
“We cannot rely on the same systems and methodologies if we are to chart a resilient and sustainable energy future for SIDS. New paradigms and innovative solutions are required, or we will reach so far and no further,” she indicated.
Pointing to the Bridgetown Initiative, which addresses financing for climate resilience, the Minister explained that among other things, is designed to reform the way rich countries finance poor countries in a climate crisis by preventing spiralling debt crises from successive natural disasters such as droughts, floods and hurricanes.
“Targeted solutions comprising modern flexible policy, regulatory and legislative systems, which are responsive to technological advancements as well as bespoke financial models, are a necessity. Technical assistance, knowledge transfer, and capacity-building of our human resources need to be the nucleus of the transformation. The continuous development of these systems is vital to facilitate SIDS’ access to appropriate financing for the implementation of renewable energy projects,” Senator Cummins said.
She pointed out that this would assist SIDS in better managing their high debt profiles and channel investments to modernising archaic infrastructure, to facilitate the on boarding of renewable energy and innovative solutions, such as storage onto electricity grids, without compromising stability and reliability.
The Minister said the SIDS Lighthouses Initiative provides a partnership framework that facilitates support to accelerate decarbonisation in small island developing states and the strengthening of climate resilience.
She highlighted the success of the SIDS Lighthouses Initiative but stressed it was not the time for nostalgia or to rest on our laurels. She proffered the view that it is time to reaffirm their commitment and reassess strategies because “much remains to be done”.
Senator Cummins continued: “As SIDS, it is imperative that we lead globally and use our collective voices to champion the energy transition and climate action.”
