German Government supports additional measures for climate change adaptation in the Caribbean
The German Government is supporting additional measures for climate change adaptation in the Caribbean. For this purpose, the German Government is providing CARICOM a sum of up to 5.525 million euros (approx. 7.2 million USD), which is to be used for the project "Adaptation to climate change in the Caribbean for the protection of natural resources and diversification in agriculture and forestry.
The source of these additional funds is revenue from the auctioning of carbon credits. The funds are made available for a project under the responsibility of the German Federal Ministry for Economic Cooperation and Development (BMZ).
Through this additional financial support, the German Government demonstrates its determination to contribute to the goals agreed at the global climate conference in Copenhagen and confirmed in Cancún, according to which the industrialised countries are to mobilise, starting in 2020, an annual 100 billion USD for climate change mitigation and/or adaptation from public and private sources.
Together with the commitment of 5 million euros for „Management of Coastal Marine Areas in the Caribbean“ , the support of the German Government comes up to 10.525 million euros.