PM Terrance Drew organizes National Ministerial Side-Event Sessions at COP28

Prime Minister of St Kitts and Nevis, Dr Terrance Drew, organized National Ministerial Side-Event Sessions at COP28 in Dubai, UAE, under the theme, “Moving Toward Sustainability with SISA 2040.”

The session was held on December 4, 2023, at St Kitts and Nevis’ Country Pavilion, Building 21, Expo City in Dubai.

Notably, many delegates from St Kitts and Nevis marked their presence at the event, such as Foreign Minister- Denzil Douglas, Minister of Energy- Konris Maynard and Minister of Agriculture- Joyelle Clarke, among others.

PM Drew opened the session and expressed the need for St Kitts and Nevis’ pavilion on the COP28 platform. Notably, the Minister of Foreign Affairs- Denzil Douglas, stated that they are supporting the rest of the world in climate change action.

As a minister of Foreign Affairs and International Trade, Douglas ensures that they positioned St Kitts and Nevis to utilize the creativities and human resources so that they can be part of finding the solutions to climate issues.

They intend to use an investment partner to achieve this goal, as this process requires a massive investment of $25 billion.

“Specifically, we intend to use investment partners or powerful partners to achieve this particular goal. We are aware that the agenda will acquire huge investments that we calculate will be $25 billion over the short, medium and long term”, Minister Douglas commented.

This investment will be coming from various sources, which are as follows,

1. Public Investments
2. Private Sector
3. Economic Sector
4. Regional sources
5. International sources

St Kitts and Nevis focuses on traditional relationships and new partnerships, especially global south participation in the Middle East in Africa, Latin America, Venezuela and Cuba.

He further stated that they will use their own regional funding agencies with whom they are already associated. While talking about economic diversification, he said it will support the prosperity of all businesses, families and communities.

Douglas remarks on Green Diversification

As a part of their own sustainable island state agenda, they have developed strategic plans for Green Diversification of some of the key sectors, such as the Agricultural and Manufacturing Sectors.

The nation has also capitalized on emerging areas like a digital industry blue and orange economies to create a circular economy approach by mitigating ways to minimize carbon dioxide emissions.

It is to be noted that St Kitts and Nevis is supposed to use greenhouses, hydroponics and vertical farming technology systems to advance the agricultural sector.

Emerging opportunities

In pursuance of the transition to the sustainable island state agenda, the government has largely set in place some policy measures. In addition to national development, the policies include the following,

– Enhance duty concessions

– Transformation of renewable energy

– Reform tariffs (Household and International)

– National and International Development Plan

– Urban Development Plan

– National Environment Protection Reforms

PM Drew comments on major challenges in SDGs

PM Drew talked about the ‘Financing of the Transformation’ and ‘Geothermal’ as major challenges that become obstacles to achieving the goal of sustainable development in the island state as every initiative needs a huge investment.

The Prime Minister of St Kitts and Nevis placed financing on a frontline to confront this problem. Notably, to deal with this issue, he disclosed the sources which will support them financially and open up the industries such as,

– Public Sector
– Public – Private Sector
– Partnership with Philanthropic Organizations

It is to be added in PM Drew’s remarks that he urges every individual in his country to understand the effects of climate change on their lives and livelihood as it also results in the emergence of new disease production.

It is to be noted that Joyelle Clarke, Minister of Agriculture, talked about some plans that will support their sustainable development, including the National Physical Development Plan and Urban Resilience Plan.