Prime Minister Gaston Browne Urges CARICOM to Champion Debt Sustainability and Climate Financing Initiatives Ahead of COP30

Prime Minister Gaston Browne Urges CARICOM to Champion Debt Sustainability and Climate Financing Initiatives Ahead of COP30

Prime Minister of Antigua and Barbuda, the Honourable Gaston Browne, has called on the Caribbean Community (CARICOM) to officially incorporate the Debt Sustainability Support Servicing (DSSS) mechanism into its climate finance advocacy agenda, particularly in preparation for the upcoming COP30 climate summit in Belém, Brazil.

The call was made during Prime Minister Browne’s intervention in the thematic debate on Climate Change and the Climate Finance Agenda at the 49th Regular Meeting of the Conference of Heads of Government of CARICOM, now underway in Montego Bay, Jamaica.

Prime Minister Browne emphasized that the DSSS, a flagship initiative of the Antigua and Barbuda Agenda for Small Island Developing States (ABAS), has already gained strong international endorsement, including support from the Fourth International Conference on Financing for Development (FfD4) held in Seville, Spain in June 2025. He encouraged CARICOM Member States to integrate this initiative into their unified advocacy in global climate negotiations.

“As we approach COP30, we cannot afford to lose momentum. Our survival as Small Island Developing States (SIDS) hinges on our collective and resolute advocacy. The DSSS must be a central part of that message,” Prime Minister Browne stated.

The DSSS is designed to address the growing debt burdens of vulnerable states by aligning debt relief and restructuring with climate resilience and adaptation investments. Prime Minister Browne noted that the mechanism is already recognized under the United Nations climate change framework, and thus provides a strategic opportunity for CARICOM to demand more equitable climate finance solutions.

He further stressed the need for an urgent replenishment and capitalization of the Loss and Damage Fund, a key financial facility established to assist vulnerable countries suffering the irreversible impacts of climate change. Many SIDS continue to face limited access to this fund, despite being on the frontlines of the climate crisis.

“Climate finance must move beyond rhetoric to real solutions. That includes supporting tools like the DSSS, which provides a pathway to reduce unsustainable debt while investing in resilience,” he added.

In a forward-looking recommendation, Prime Minister Browne also urged CARICOM leaders to explore the establishment of a regional carbon pricing market, which would allow countries in the Caribbean—home to vast ocean territories—to generate revenue from their contributions to climate mitigation and carbon sequestration.

“The Caribbean’s extensive ocean space is one of its greatest assets. A carbon pricing mechanism would allow us to monetize this advantage while contributing to the global climate solution,” he said.

Prime Minister Browne’s intervention was welcomed as a strong reaffirmation of Antigua and Barbuda’s leadership in global climate diplomacy, following the country’s recent hosting of the Fourth International Conference on Small Island Developing States (SIDS4) and participation in high-level global finance meetings.  (Ends)

Digital photos: PM Browne and the Antigua Foreign Service Team Meeting with Brazilian delegation on a wide range of issues to include COP30.

Heads at the 49th Meeting of CARICOM in Jamaica

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