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  • Caribbean Trade and Development News Digest – January 23-30, 2022

    Caribbean Trade and Development News Digest – January 23-30, 2022

    Happy New Year to all readers! Welcome to our first Caribbean Trade and Development News Digest for the year, covering the week of January 23-30, 2022! We’re back from our much needed and restful extended holiday hiatus and are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    The year has started amidst much uncertainty with escalating geopolitical tensions (e.g: US/Russia over Ukraine) and the spread of the Omicron variant of COVID-19, global supply chain disruptions, worsening climate concerns, lingering Brexit issues and longstanding issues to be resolved in the WTO among the issues we’ll be following this year.

    We do hope you enjoy this week’s edition!

    THIS WEEK’S HIGHLIGHTS

    The Second Colombia-CARICOM summit took place on January 28, 2022. The Declaration of Barranquilla coming out of the summit may be accessed here.

    A recently released joint study by the World Bank and the WTO highlighted the key role played by trade in reducing poverty but noting that further measures are needed to support developing countries’ use of trade as a tool for growth. Read more here.

    In its annual report entitled ‘Preliminary Overview of the Economies 2021’, ECLAC has called 2022 a year of major challenges for growth, job creation and tackling the pandemic’s social toll. Read more here.

    His Excellency Paul Kagame, President of the Republic of Rwanda, and Commonwealth Secretary-General, The Rt. Hon. Patricia Scotland, have today announced the week of 20 June 2022 as the new date agreed with member countries for the Commonwealth Heads of Government Meeting (CHOGM). Read more here.

    REGIONAL NEWS

    Brazil wants to team Guyana and Suriname oil and gas in a regional energy corridor

    Mercopress: Brazil is betting strongly to become the main player in the development of oil and gas production in its northeast corner, where the state of Amapá shares proximity with French Guiana, Suriname, and Guyana, these two of which are set to become significant players in the hydrocarbons business. Read more

    Belize co-chairs successful Colombia-CARICOM Ministerial Summit

    BBN: Оn Јаnuаrу 28, Міnіѕtеr оf Fоrеіgn Аffаіrѕ оf Веlіzе Еаmоn Соurtеnау аnd Соlоmbіаn соuntеrраrt Маrtа Luсíа Rаmírеz со-сhаіrеd thе ѕесоnd Соlоmbіа-САRІСОМ Міnіѕtеrіаl Ѕummіt іn Ваrrаnquіllа, Соlоmbіа. Read more

    Dominica’s remote work program named best in the Caribbean

    Loop News Caribbean: Dominica’s digital nomad programme ranked 28th in the world and first in the Caribbean. Read more

    Export Barbados assists breadfruit exporters

    Barbados Today: Export Barbados (BIDC) has come to the assistance of breadfruit exporters Shawn Holder of Holder’s Food & Exports and Erasmus Alfred of E&C Marketing. Read more

    Caribbean nation of Saint Vincent exports first cargo of medical cannabis

    Reuters: Saint Vincent and the Grenadines has exported a cargo of 110 pounds (49.8 kilos) of medical cannabis after receiving a license for export to Germany, according to official announcements and a local official familiar with the matter. Read more

    Jamaica to sign MOU on tourism development with Spain

    Travel Daily News: Jamaican Tourism Minister, Hon. Edmund Bartlett, has announced that Jamaica and Spain will craft a memorandum of understanding to collaborate on various aspects of tourism development and economic transformation. Read more

    Duque wants Caricom to be of help in cases of natural disasters

    Mercopress: Colombian President Iván Duque Friday announced his intention to create a Regional Solidarity Fund, in order to serve the population in terms of health and in case of natural disasters. He made those remarks at the II Ministerial Summit of the Caribbean Community in Barranquilla. Read more

    INTERNATIONAL NEWS

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Xinhua: Member states of the African Continental Free Trade Area (AfCFTA) concluded on Saturday their negotiations on rules of origin, a move expected to further reduce tariffs on original goods within the African continent. Read more

    Navigating Trade & Business One Year Post Brexit

    GT: The economic and social dislocation caused by the pandemic has made it difficult sometimes to distinguish between the impact of Brexit only versus that of COVID 19. However, this article seeks to describe, as far as possible, how Brexit has affected the business and regulatory environment across the full range of areas covered by Steptoe and Johnson practices so far, and to identify issues of potential future concern for companies. Read more

    Brexit, two years on – so far, so bad

    Investment Monitor: 31 January marks the two-year anniversary of the UK’s official withdrawal from the EU. Investment Monitor examines how hard Brexit has hit the UK economy so far. Read more

    OECD takes first step in accession discussions with Argentina, Brazil, Bulgaria, Croatia, Peru and Romania

    OECD: The OECD Council decided today to open accession discussions with six candidates to OECD Membership – Argentina, Brazil, Bulgaria, Croatia, Peru and Romania. This follows careful deliberation by OECD Members on the basis of its evidence based Framework for Consideration of Prospective Members and the progress made by the six countries since their first respective requests for OECD membership. Read more

    Charts: China promised Trump it would buy an additional $200 billion worth of US exports — but only met 60% of the trade deal target

    Business Insider: China failed to meet its side of the bargain in a trade deal it struck with former President Donald Trump in January 2020. Read more

    U.S. lawmakers urge USTR to expand tariff exclusions on Chinese goods

    Reuters: A bipartisan group of more than 140 U.S. lawmakers called on U.S. Trade Representative Katherine Tai to immediately revive and expand a tariff exclusion process on Chinese goods to help U.S. manufacturers. Read more

    The 5G-airlines crisis was mostly averted. Here’s what happened – and what we still don’t know

    CNN: Potentially abysmal air travel interruptions were narrowly avoided this week when wireless carriers made a last-minute change to their planned 5G rollout in response to fears that new cell service towers could interfere with a key component on passenger jets that allows them to safely land in low visibility conditions. Read more

    Taiwan, Canada to start talks on investment agreement

    Reuters: Taiwan and Canada have agreed to start talks on an investment protection agreement, both governments said on Monday, part of the Chinese-claimed island’s efforts to boost ties with fellow democracies in the face of growing pressure from Beijing. Read more

    Huge uncertainties still surround US trade policy

    East Asia Forum: Donald Trump’s presidency signalled a decisive US retreat from free and open trade and leadership of the multilateral trading system that had fostered unprecedented trade and economic growth for over 70 years. Read more

    EU initiates WTO dispute complaint regarding Chinese restrictions on trade with Lithuania

    WTO: The European Union has requested WTO dispute consultations with China concerning alleged Chinese restrictions on the import and export of goods, and the supply of services, to and from Lithuania or with a link to Lithuania. The request was circulated to WTO members on 31 January. Read more

    A New Trust to Help Countries Build Resilience and Sustainability

    IMF: A proposed $50-billion trust fund could help low-income and vulnerable middle-income countries build resilience to balance of payments shocks and ensure a sustainable recovery. Read more

    Global Shipping Costs Are Moderating, But Pressures Remain

    IMF: Shipping costs soared over the past year as consumers unleashed pent-up savings to buy new merchandise while the pandemic continued to snarl the world’s supply chains. Container rates have more than quadrupled since the start of the pandemic, with some of the biggest gains concentrated in the first three quarters of last year. Read more

    Canada joins Mexico’s official complaint arguing U.S. violating trade pact over auto parts provision

    CBC: Canada is joining Mexico’s official complaint today requesting a dispute settlement panel to resolve a claim that the U.S. is violating the new NAFTA by insisting on a stricter interpretation of a key provision on auto parts. Read more

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Statement by CARIFORUM Council of Ministers on Ex Post review of CARIFORUM-EU EPA

    Press release: The Council of Ministers of CARIFORUM wishes to put on record, the Region’s concerns with a number of ‘findings’ of the Study commissioned by the European Commission, the “Ex-post Evaluation of the EPA between the EU and its Member States and the CARIFORUM Member States”. As a region, we are particularly troubled that in spite of the detailed concerns raised by our senior officials in writing, this document remains in the public sphere, including on the official site of our partner under this Agreement. It is being regarded by some as an accurate assessment of the operation of the Agreement.

    The Report claims that the objective of the evaluation was to determine the extent to which the CARIFORUM-EU EPA has been implemented. The Report also claims that the evaluation reflects equally, the state of implementation of the EPA by the two Parties: CARIFORUM and the EU. In reality, however, the analysis used was not equally robust for both Parties, resulting in glaring weaknesses in the evaluation itself.

    Specifically, the evaluation and the Report appear to have approached the implementation efforts of the EU Party with a presumption of compliance. The evaluation shows scant regard for CARIFORUM’s concerns, including those regarding procedural and regulatory barriers to the EU market, such as the EU visa requirements, which continue to impact effective mode 4 access to the EU market, especially for cultural and professional services.

    On the other hand, there are numerous instances of scathing but unfounded, general statements which portray a general negative view of CARIFORUM and a presumption of non-compliance by CARIFORUM with its implementation obligations. One example of this is the ‘finding’ that several CARIFORUM States do not have an independent judicial system that can provide preliminary injunctions and final rulings regarding intellectual property rights. There are also instances where the authors, in the absence of evidence, resort to asserting possible non-compliance.

    In addition to being patently imbalanced, the number of inaccuracies in the Report, at the expense of CARIFORUM, is unacceptable. In the absence of any specific analysis or provision of evidence to support, CARIFORUM is branded non-compliant, even in circumstances where the observations are not applicable to all CARIFORUM States. For example, the Report states in bold text that ‘several’ CARIFORUM countries maintain export duties and quantitative restrictions, but goes on to identify two States where restrictions may exist.

    The Report also boasts numerous examples of conclusions being drawn, and findings presented which are not supported by the literature/data review in the evaluation itself. For instance, even where the Report states clearly that the relevant information was not received and/or reviewed, there was yet the pronouncement of non-compliance or “possible” non-compliance by CARIFORUM.

    The Council of Ministers of CARIFORUM acknowledges that the Study was conducted by independent consultants on behalf of the European Commission, and that CARIFORUM Senior Officials engaged both the Commission and the Consultants to have issues addressed. However, it is important that CARIFORUM places its position on record, and more so, as the Report is being inaccurately cited in some quarters as “the joint five-year review mandated under the CARIFORUM-EU EPA.” In actuality, the Second-Five Year Review of the CARIFORUM-EU EPA, which was scheduled to take place in 2020 had to be postponed on account of the COVID-19 pandemic and the two Sides are in consultation on its scheduling later this year. Indeed, Senior Officials from both sides continue to be engaged in the preparatory work at the technical level.

    CARIFORUM looks forward to the second review of the CARIFORUM-EU EPA, in particular given the key finding of the first review that CARIFORUM States had not yet started to reap the anticipated benefits of the Agreement. In this regard, CARIFOURM hopes that the upcoming Review will address the need for the EU to build greater awareness of the EPA among EU operators, including border/regulatory agencies, to curtail the barriers experienced by CARIFOURM States, particularly for the trade in services.

    End Note: The commitment to engage in the five-yearly reviews of the EPA is found in the Joint Declaration (EPA Article 5) under which the Parties have undertaken to comprehensively review the EPA every five years in order to determine the impact of the Agreement, including the costs and consequences of implementation.

  • Caribbean Trade and Development News Digest – October 31 – November 6, 2021

    Caribbean Trade and Development News Digest – October 31 – November 6, 2021

    Welcome to the Caribbean Trade and Development News Digest for the week of October 31-November 6, 2021! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The United Nations Framework Convention on Climate Change (UNFCCC) Twenty-sixth Conference of the Parties (COP26) is underway in Glasgow, Scotland, UK. Read this round-up report by The Guardian on what (little) has been achieved so far.

    European Commission President von der Leyen and United States President Biden agreed on October 31 to start discussions on a Global Arrangement on Sustainable Steel and Aluminium. Read more

    The Caribbean Court of Justice this week began hearing claims by Belize that Trinidad & Tobago failed to apply the common external tariff (CET) duty of 40% on brown sugar imported from outside of the Caribbean Community (CARICOM) from November 2018-June 2020 in breach of the Revised Treaty of Chaguaramas, a claim which Trinidad & Tobago denies. The hearing was live streamed and the recording may be watched here.

    This week it was my pleasure and honour to be one of the key note speakers at the 2nd Annual Caribbean Future Summit 2021 organised by Global Startup EcoSystem where I spoke on “Disruptive Human Capital Development and Trade in a Post-Pandemic Era”. Other key note speakers included Jamaican Minister Hon. Audley Shaw, Barbadian Minister Hon. Dwight Sutherland, as well as CEOs, entrepreneurs and influencers from across the Caribbean. I thank the organisers for the kind invitation and for a very well-organised and interesting conference.

    REGIONAL NEWS

    Belize no longer seeking compensation from Trinidad and Tobago over sugar imports tiff

    Newsday: Belize will no longer seek compensation from Trinidad and Tobago for allegedly failing to apply the common external tariff (CET) tax on brown sugar imported from outside the region from November 2018-June 2020. Read more

    Belize Resumes Shipment of Corn to Guatemala Under Revitalized PSA

    Channel 5 News: A consignment of grain destined for Guatemala City departed from the Cayo District this morning, signaling the resumption of trade in corn between Belize and Guatemala. Read more

    Jamaican pineapple farmers gain access to Barbados

    Jamaican Observer: A release from the Ministry of Agriculture and Fisheries outlined that “With effect from October 29, 2021, Jamaica now has access to export pineapples (fruit) commercially to Barbados.” Read more

    Diaspora making strong contribution to Jamaica’s recovery

    JIS: Minister of Industry, Commerce, Agriculture and Fisheries, the Hon. Audley Shaw says Jamaica has started to show strong signs of recovery due to relations with the diaspora and retrievals in the services of goods-producing industries. Read more

    Barbados may trade in building materials with Guyana – Duguid

    Barbados Today: Barbados is seeking assistance from Guyana in the provision of certain types of construction materials to build houses here, Minister of Housing Dr William Duguid said on Monday. Read more

    Barbados still top choice for Canadian investors

    Barbados Today: Barbados continues to be a top choice jurisdiction for investment by Canadians. This assurance has come from High Commissioner to Barbados and the Eastern Caribbean, Lilian Chatterjee. During her recent address to the Global Business Week 2021 Conference, hosted by BIBA, the Association for Global Business in Barbados and its strategic partners, High Commissioner Chatterjee noted that the island was still within the top 5 jurisdictions in the world for Canadian investment. Read more

    Trade has role in assisting with climate change solutions

    Barbados Today: Trade has to be part of the climate change solution and countries need to cooperate on how to achieve adaptation and mitigation instead of working in silos. Read more

    CDB Proposes a Resilience-Adjusted GNI Measure for Small Island Developing Economies to Access Concessional Finance

    CDB: The Caribbean Development Bank (CDB) has proposed a resilience-adjusted Gross National Income (GNI) measure for Small Island Developing States (SIDS) to access concessional finance. Read more

    INTERNATIONAL NEWS

    Key Takeaways from COP26 Week 1

    CTV: All eyes have been on Glasgow, Scotland as the first week of the UN climate conference known as COP26 draws to a close. The conference was delayed by a year because of the coronavirus pandemic, and is set to run until Nov. 12. Read more

    China’s trade with world surges ninefold after 20 years in WTO

    Nikkei Asia: In the 20 years since joining the World Trade Organization, China has increased its foreign trade by ninefold, vaulting ahead of the U.S. to become the top player, but little progress has been made on reforming entrenched state-owned enterprises. Read more

    USTR Tai and Commerce Minister Goyal to take ‘comprehensive look’ at bilateral trade ties

    Economic Times: US Trade Representative Katherine Tai and Union Commerce and Industry Minister Piyush Goyal have agreed to take a “comprehensive look” at ways to expand the bilateral trade ties and also shared perspectives on how to reach “meaningful outcomes” at the upcoming WTO Ministerial Conference. Read more

    EU could shelve Brexit trade deal if UK triggers article 16, Irish minister warns

    The Guardian: Simon Coveney accuses British government of ‘deliberately forcing breakdown’ in negotiations over Northern Ireland. Read more

    Biden eyes Western front to China in EU tariff agreement

    The Hill: President Biden has ramped up efforts to repair the U.S.-European Union trade relationship and form a united Western front against China with a recent deal to ease Trump-era steel and aluminum tariffs. Read more

    China’s Oct trade surplus with the United States at $40.75 bln

    Reuters: China’s trade surplus with the United States was $40.75 billion in October, Reuters calculations based on customs data showed on Sunday, down from $42 billion in September. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  •  CARICOM Declaration on Climate Change leading up to COP26 (re-issued)

     CARICOM Declaration on Climate Change leading up to COP26 (re-issued)

    CARICOM Secretariat:



    “1.5: Ambition to Defend the Most Vulnerable”
    Underscoring that Small Island and low-lying coastal Developing States (SIDS) are particularly vulnerable to climate change, and have been internationally recognized as a special case for sustainable development,
     
    Recalling the Special Report of the IPCC on 1.5°C and the recent IPCC Report which confirms that the current decade is the final opportunity to keep 1.5°C within reach,
     
    Gravely concerned that global average warming has already reached 1.2°C, and the prospect of exceeding 1.5°C in the 2030s is imminent, noting in this regard that the IPCC projects that global warming could rise to 2.7°C by the end of the century,
     
    Alarmed that even at 1.5°C SIDS will continue to experience the worsening of slow onset events and extreme events including more intense storms, along with heavy or continuous rainfall events, ocean acidification, increased marine heatwaves, rising sea levels together with storm surges resulting in coastal inundation, saltwater intrusion into aquifers and shoreline retreat, as well as the continued overall decline in rainfall, increased aridity, and more severe agricultural and ecological droughts,
     
    Recognizing that these impacts threaten both human and natural systems, and that the already steep social, economic and environmental costs have already exceeded the Region’s overall capacity to adapt,
     
    Underscoring thus the limits to the region’s adaptive capacity, the increasing evidence and the growing toll of loss and damage, with cataclysmic and existential implications for the Caribbean,
     
    Emphasizing with consternation that while the Region emits roughly 0.2% of global greenhouse gases, it is disproportionately bearing the costs of a climate crisis it did not create,
     
    Further emphasizing that the ineligibility of CARICOM Members to access grant or concessionary support has contributed to increasing unsustainable debt burdens that are grossly exacerbated by the economic fallout from the continuing COVID-19 pandemic as well as other shocks including extreme weather events,
     
    Noting that developed countries have failed to deliver on the long-term climate finance goal of providing at least USD100 billion per annum by 2020, and continue to channel most resources to mitigation, with adaptation making up merely 20 percent of climate finance thus far, Noting also that the scale of the current finance goal and the rate of disbursement of financing is incommensurate with the scale of the needs of developing countries to implement their climate plans which is estimated to be in the range of trillions of dollars,
     
    Noting that despite the climate crisis not being of their making, SIDS have had to use their own resources, constrained by COVID, debt, a lack of policy and fiscal space wrought by global financial norms and inflexible rules, an absence of support, and, for some, the millstone of being classified as middle-income countries, to finance the climate crisis, jeopardizing progress towards the attainment of the Sustainable Development Goals.
     
    Highlighting thus the need for a new collective quantified goal on climate finance that shifts from billions to trillions and adequately as well as predictably addresses the needs of developing countries in a timely fashion,
     
    Taking note of the UNFCCC Synthesis Report which concludes that current NDCs fall far short of the mitigation ambition to maintain global temperatures below 1.5°C, and highlighting in particular that the major emitters especially those with historic responsibility have not submitted NDCs consistent with 1.5°C,
     
    Underscoring that members of the Group of 20, who account for 75 percent of global greenhouse gas emissions, have the greatest mitigation potential to curb emissions and keep 1.5°C within reach,
     
    Recognizing that the Conferences of the Parties to the Convention, the Kyoto Protocol and the Paris Agreement are meeting for the first time since the COVID-19 pandemic, and that it is expected to complete the Paris Agreement Work Programme in order to strengthen accountability, transparency and ensure environmental integrity, in line with the Paris Agreement and its subsequent Work Programme,
     
    Recognizing also that this COP marks the first five-year cycle since the adoption of the Paris Agreement and therefore it is a first opportunity to examine Nationally Determined Contributions in light of the goals of the Paris Agreement,
     
    Convinced that, in light of the foregoing, COP26 is the last best chance to keep 1.5°C within reach,
     
    Resolved to engage across all of society to amplify a robust regional response to climate change, and motivated to do so to secure a safe climate future for our young people,
     
    We, the CARICOM Ministers with responsibility for Climate Change, hereby declare that the Region faces a climate emergency and unavoidable loss and damage. We call urgently for unswerving global solidarity to deliver ambition, timely action, and support, for a just transition this decade with the aim of limiting global warming to well below 1.5°C. We demand climate justice and the assurance that our survival will not be compromised. We call upon leaders at COP26 to close the emissions gap, scale up finance particularly for the most vulnerable, and agree on rules to guide parties to progressively increase and demonstrate highest ambition.
     
    To close the emissions gap, we call on leaders of the Group of 20 to commit by COP26 to:
     Urgently close the emissions gap in order to maintain global warming to well below 1.5°C; Deliver, well before the global stocktake in 2023, new NDCs with 2030 targets that are consistent with the 1.5°C temperature goal and credible net zero by 2050 long-term strategies; Support efforts to encourage the aviation and shipping sectors to align with the Paris goals; and, Provide fair and just compensation for ecosystem services provided by forests regarding climate and atmospheric regulation; Support efforts to conserve and enhance reservoirs and sinks of greenhouse gases, including forests. Ensure a green and sustainable approach to the recovery from the COVID-19 pandemic. 
    We resolve to continue to do our part to contribute ambitious climate plans and in this regard:
     Commend fellow Member States who have already submitted ambitious targets and note encouragingly the efforts of others to finalize their submissions; and Commit to marshal all efforts to present low emission development strategies in line with a net zero by 2050 commitment and adaptation communications or adaptation plans, as appropriate. 
    We also underscore the need to optimize synergies between climate action and COVID-19 responses to ensure a green and sustainable approach to the recovery and plea for the international community to urgently support:
     CARICOM Members rapid access to grants and other sustainable and affordable financial instruments, Improved modalities of access for the Region to climate finance including at the sub- national and local levels, direct access modalities as well as direct financing mechanisms, simplified approval procedures, innovative financial arrangements such as debt for climate swaps Regional efforts to develop capacity, and access fit for purpose, state of the art technology, to improve and accelerate responses to climate change, and to strengthen monitoring and reporting, Dedicated funds for adaptation and for loss and damage for SIDS; and,Debt forgiveness, debt relief, and increased liquidity for the region. 
    To close the finance gap, we call on developed countries to:
     Deliver on their goal of at least USD100 billion per annum by 2020, aiming for a balance between mitigation and adaptation, and to progressively scale up finance from the floor of USD100 billion p.a.; Submit a credible plan for the period 2020 through to 2025, on delivering and going beyond the floor of USD100 billion p.a., that includes a specific target to significantly increase finance for SIDSin accordance with our needs, and modalities for fast-track financing in keeping with the emergency we face; Ensure that all CARICOM Member States are able to access climate finance as grants and other concessionary instruments on affordable terms bearing in mind the lender’s responsibility not to undermine a country’s debt sustainability; Provide dedicated funds additional to the USD100 billion p.a. floor to support the Caribbean and other SIDS in proactively responding to loss and damage already being incurred; Support the establishment of a formal replenishment process for the Adaptation Fund; Agree to a process for the new climate finance goal to be disaggregated to address: adaptation; mitigation; loss and damage response; just transition; transparency; readiness and enabling activities; and mechanisms supporting capacity building, technology transfer and providing technical assistance to developing countries; a sub-goal for non-state actors; specific attention to the needs and capabilities of Small Island and low-lying Developing States; and, transparency and consistency in reporting, linked to the enhance transparency framework and the implementation and compliance mechanism of the Paris Agreement; and At the regional level, to enhance capitalization of the Caribbean Catastrophe Risk Insurance Facility. 
    We also welcome the additional support of others in a position to do so.
     
    To finalize the Paris Agreement Work Programme, we commit to work with all delegations:
     Guided by the objective of enabling the highest possible ambition so as to maintain global warming to well below 1.5°C and to keep all Paris goals within reach, to elaborate article 6 rules and guidance emphasizing the need to address the core issues of: environmental integrity, A substantial discount rate on carbon credits in order to accelerate reduction of greenhouse gas emissions for the overall mitigation of global emissions in line with the 1.5°C temperature goal, corresponding adjustments, avoidance of double counting and carryover of Kyoto Protocol units, a defined share of proceeds that provides a significant predictable and sustainable source of finance contributing to the scaling up of adaptation finance that can be channeled to the Adaptation Fund; and capacity building and technology transfer for developing countries to participate in the range of available article 6 approaches; To ensure that in the operationalization of the rules and guidance of article 6 that developing countries are able to fully and effectively participate in, contribute to and benefit from market and non-market approaches; Finalise the arrangements for the implementation of the enhanced transparency framework in line with the modalities, and guidelines agreed under the Paris Agreement Work Programme and in accordance with the principles of transparency, accuracy, consistency, completeness and comparability; and, expand capacity building support for SIDS and LDCs especially for generating data, and for reporting on support needed and received; Synchronize nationally determined contributions (NDCs) preferably on a five-year timeframe with the aim of enabling progressive increase of ambition to limit global warming to well below 1.5°C; Establish a process utilizing the best available science, to support the implementation, and assessment of progress of activities towards achieving the global goal on adaptation; and, Agree on a time bound process for the full operationalization of the Santiago Network on Loss and Damage that will ensure that the Network can deliver on its mandate to developing countries, with adequate support, both institutional and financial.
    Finally, we recall that thirty years ago, SIDS raised the issue of loss and damage and the need therefore for international cooperation to prevent dangerous anthropogenic climate change. Thirty years later we are facing dangerous climate change and the SIDS are dangerously on its frontline. Clearly the models have not worked and there must now be renewed effort, renewed commitment and a different way of thinking.
     
    We urge all leaders at COP26 to finally confront the reality of loss and damage in SIDS and to identify robust options on a way forward for the UNFCCC to deliver action and support that responds to this reality and ensures our survival. We emphasize that there is no more time for equivocation and no more time for delay.