Nov 30 - Dec 12 2023
8:00 a.m.
Time zone

United Arab Emirates

CDB at COP 28

Nov 21, 2023

This year, at COP 28 in Dubai, United Arab Emirates, the Caribbean Development Bank (CDB) will be at the forefront of the Caribbean Contingent on the ground highlighting the challenges Climate Change is posing for the Region and advocating for additional resources to alleviate the increasing impact of this crisis.

The concerns CDB will be emphasising at COP 28 include: 

  • The urgent need to increase climate finance available to Caribbean Countries.   
  • The necessity of technical support, training, and capacity building for regional governments to implement effective climate change policies and programmes.  
  • Imperatives for enabling the Caribbean to fairly compete in Green Trade, the emerging global inclination for commerce in sustainable goods and services.     
  • The need to accelerate the Caribbean’s Sustainable Energy Transition to reduce negative climate impacts.  

During the two-week event, held from Thursday, November 30, 2023 to Tuesday, December 12, 2023, members of the CDB delegation will participate in dialogues with partners and stakeholders who can make a significant difference in the thrust to modify the global financial architecture to ensure small developing states, such as CDB’s Borrowing Member Countries, receive the support needed to survive this growing scourge.

Burj Khalifa city scape at night with blue overlay


Please note that local Barbados times are shown below (AST +4:00).

1:00 p.m. - 2:00 p.m. GST

Boosting Climate Resilience: Preparing and De-risking Renewable Energy Projects in the Caribbean

This event, hosted by RMI at COP 28, brings together Caribbean government representatives, energy leaders, investors, and finance experts to discuss avenues to mobilize climate capital and radically scale the energy transition in the Caribbean, functioning as a model for other countries and regions in the Global South. The discussion focuses on practical solutions to break through project preparation barriers, which are currently hindering the number of projects ready for investment.

Event Host: RMI Islands Energy Program

1:00 p.m. - 2:30 p.m. GST

Announcement: Blue Co Caribbean Umbrella Coordination Programme

Announcement of the approval of the application for Green Climate Fund (GCF) project preparation funds to finance the development of the Blue Co Caribbean Umbrella Coordination Programme, a new regional programme managed by the Caribbean Development Bank, co-financed by the GCF which aims to scale up financing and investment in a climate-resilient and low-emissions blue economy across the Caribbean Region.


Event Hosts: CDB & GCF

6:00 p.m. GST

Reception - Opening of Trade House


Event Hosts: ITC

10:15 a.m. - 10:45 a.m. GST

Signing of an Addendum to the 2020 Mutual Cooperation Agreement with IDB

The Presidents of the Caribbean Development Bank and Inter-American Development Bank will meet at COP 28 to renew partnership engagement between the two institutions. The CDB and IDB have had a longstanding relationship dating back close to fifty years. The Addendum to the existing framework agreement (2020) includes a three-year action plan that sets out key areas of collaboration between staff of both MDBs, notably intensifying work on some of the key challenges facing the Caribbean.


Event Host: IDB

6:00 p.m. - 7:00 p.m. GST

Galvanising Climate Action for the UN 4th International Conference on Small Island Developing States

The international community must deliver on addressing climate and economic existential risks before it’s too late. 2024 is a critical year for Small Island Developing States (SIDS). The 4th UN SIDS Conference (SIDS4) in May 2024 is a once in a decade opportunity for transformational change to support acutely vulnerable states. This high-level event will bring together key partners ahead of SIDS4 to outline their ambition and to identify opportunities for collaboration to enable sustainable prosperity through climate resilience for countries on the frontline of climate change.


Event Host: UK FCDO

9:00 a.m. - 10:00 a.m. GST

Panel Discussion: Monitoring, Reporting and Verification Framework for Climate Finance Tracking

A discussion on establishing Monitoring, Reporting and Verification systems for Climate Finance Tracking and how such systems can improve the understanding and management of financial flows to mitigate and adapt to climate change from public, private, national, and international sources. The discussion will also shed light on how MRV systems can help to shape climate change policy and improve the capturing of climate change data.


Event Host: CDB

11:30 a.m. - 12:30 p.m. GST

Leveraging Special Drawing Rights for Climate and Development

The magnitude and urgency of our collective challenges require comprehensive and transformational changes, and an all-of-society mandate. Simply put, we need all hands on-deck. Deep commitments and decisive action are essential for the achievement of our global climate goals. This event is co-hosted by COP28 Presidency, France, Japan, the African Development Bank Group and the Inter-American Development Bank to look at Leveraging Special Drawing Rights (SDRs) for Climate and Development, with pledges and commitments to be announced.


Event Host: COP28 Presidency

4:00 p.m. - 5:00 p.m. GST

Side Event: Innovative Approaches to Accelerating Climate Finance Flows into the Caribbean

This side event will focus on concrete opportunities to adopt and implement innovative approaches to increase the flow of climate finance into the Caribbean region. This is expected to include, inter alia: 

  • how the region can work more strategically to mobilize highly concessional climate finance from multilateral climate funds, including the Green Climate Fund (GCF) and Adaptation Fund (AF); 

  • innovative approaches to scaling up climate finance flows from Multilateral Development Banks (MDBs); and 

  • strategies for mobilizing private sector financing through blended finance approaches. 


Event Host: Organisation of Eastern Caribbean States

4:30 p.m. - 5:30 p.m. GST

Panel Discussion: Climate Transition for SIDS, LLDCS And LDCS - Role of Trade & Small Business

SIDS, LLDCs and LDCs are the most vulnerable to the effects of climate change and their economies are largely driven by small business. This panel will explore the importance and enabling conditions of small business climate action in SIDS, LLDCs and LDCs in the context of climate and financial justice. It will explore the role and recommendations for access to climate finance for small business and marginalised communities as well as sustainable and innovative business models and enabling policy conditions.

The panel will bring together voices from SIDS, LLDCs and LDCs, United Nations agencies and key stakeholders.


Event Host: ITC

11:30 a.m. - 12:30 p.m. GST

Panel Discussion: Accelerating the Caribbean Energy Transition

The event will provide an opportunity for participants to discuss the Caribbean energy transition, and how the international development community can help accelerate it with the aim of addressing the following guiding questions:

  • What is the current state of the Caribbean energy transition?
  • What barriers are inhibiting investment and action?
  • What support is needed to accelerate transformation of the energy sector?
  • How would the pipeline Supporting Resilient Green Energy (SURGE) initiative respond to these needs?


Event Host: CDB

11:30 a.m. - 1:30 p.m. GST

Accelerating a Just Transition& Just Resilience Globally

Sharing experiences and opportunities of accelerating a just transition and just resilience globally including the importance of partnership, bringing in perspectives and experiences from EU member states as well as emerging markets with speakers from both the public and private sector alongside international organisations.

Event Host: EIB

12:00 p.m. - 12:15 p.m. GST

Fireside Chat

Fireside Chat with James Ellsmor, Founder /Director Island Innovation. The conversation will focus on climate finance for SIDS and the role of development banks. This will include MDBs collaborating more to deliver the level of finance required for climate adaptation.

Event Host: Island of Hope Stage

1:00 p.m. - 1:45 p.m. GST

Launch of CDB’s Minimum Regulatory Function Report for the Energy Sector

Caribbean countries are committed to transitioning to renewable energy products, however the pace of investments in renewable energy has been very slow in part due to an absence of an appropriate electricity sector governance framework.  The concept of the Minimum Regulatory Function (MRF) has been identified[1] and proposed by CDB (through a robust regional consultative process) as a tool to help simplify the complex, multi-actor context and to assist countries to address the right mix of regulatory measures to pursue and eliminate some of the uncertainty. The MRF is a set of critical ingredients which, if fully present in a BMC, constitute the minimum conditions or framework which can give private renewable energy investors sufficient confidence to invest.


Event Host: CDB


[1] Based on experience in the Caribbean, and scan of global best practices for effective regulatory frameworks in developing country contexts


10:00 a.m. - 10:45 a.m. GST

Unlocking renewable energy investments in the Caribbean region: the 100 MW auction in Jamaica and RELP-CDB-CCSA perspective to support other governments.

The session showcases two main topics:  

1) The current work of the Government of Jamaica, aiming to implement a new, ambitious clean energy programme with RELP’s support, making renewables more accessible for the people, while helping the government lower clean energy tariffs and save millions of dollars in reduced energy imports.

2) the collaborative work by RELP, the Caribbean Development Bank and the Caribbean Climate-Smart Accelerator, aiming at supporting more governments in the region to attract investments and access to cleaner and cheaper electricity, leveraging innovative, programmatic de-risking solutions. In particular, this session will introduce the International Guarantee Trust Fund for Renewable Energy iTrust and explain how iTrust, in collaboration with CDB and other public and private investors, can help governments mitigating political and financial risks affecting clean energy investments in their countries.


Event Host: RELP/iTrust

1:30 p.m. - 2:30 p.m. GST

Panel Discussion: Leveraging Sustainable and Inclusive Finance to Accelerate Climate Action in Trade

Climate finance, trade and gender are interdependent - marginalized populations are among the most affected by climate change as they are less likely to be able to adapt to climate change.  UNFCCC Paris Agreement in 2015 recognized the intersection of climate change and gender equality. However, this political commitment remains to be translated into action. The overview of existing climate finance sources and instruments shows that potential co-benefit gains between gender equality and climate action are seldom factored into climate investment decisions.

This session aims to explore:

  • How the design and implementation of the current mechanisms for financing climate change are taking gender perspectives into account.
  • What are the key challenges for small businesses when it comes to climate finance.
  • How sustainable trade can support mobilizing the climate finance advance on gender equality.

This session will showcase the small business perspective and examine the issues faced on the journey to sustainability, looking at the inclusive finance and trade solutions that can empower a small business to take climate action.


Event Host: ITC

2:00 p.m. - 3:10 p.m. GST

Voices of the Global South: Energy Security and Economic Opportunity

Event Host: Atlantic Council

2:15 p.m. - 2:30 p.m. GST

Lessons From the Caribbean, where building resilience is a matter of survival


Event Host: Devex


Dr. Hyginus "Gene" Leon
President, Caribbean Development Bank
Ms. Valerie Isaac
Coordinator, Environmental Sustainability Unit, Caribbean Development Bank
Mr. Joseph Williams
Coordinator, Sustainable Energy Unit, Caribbean Development Bank
Dr. Colin Young
Executive Director, Caribbean Community Climate Change Centre
The Hon. Philip Edward Davis, K.C.
Prime Minister, The Bahamas
The Hon. Roosevelt Skerrit
Prime Minister, Dominica
Ms. Mafalda Duarte
Executive Director, Green Climate Fund
Mr. Andrew Hurst
Executive Director, Climate Finance, Global Issues and Development Branch, Global Affairs Canada
Mr. Graham Watkins
Chief of the Climate Change Division, Inter-American Development Bank
Ms. Gerty Pierre
Health Environmental specialist, Climate Change Director, Ministry of Environment, Haiti
Hon. Kerryne Z James
Minister for Climate Resilience, The Environment, and Renewable Energy, Grenada
Mr. Isaac Solomon
Vice-President (Operations), Caribbean Development Bank
Ms. Cheryl Senhouse
Finance Innovation Director, Caribbean Climate Smart Accelerator Inc.
Mr. Stephen O'Driscoll
Head of Environmental, Climate and Social Office, European Investment Bank
Hon. Quincia Gumbs-Marie
Minister of Sustainability, Innovation, and the Environment, Anguilla
Dr. Devon Gardner
Head of Technical Programmes, Caribbean Centre for Renewable Energy and Energy Efficiency

Our Focus

collaboration implementation integration

Watch Replays

Panel Discussion: Innovative Approaches to Accelerating Climate Finance
Panel Discussion: Monitoring, Reporting and Verification Framework For Climate Finance Tracking
Panel Discussion: Accelerating the Caribbean Energy Transition
Blue Co Caribbean Umbrella Coordination Programme Announcement


Episode 5- Unlocking Sustainable Prosperity
Effective Climate Action: Supporting Transition
Effective Climate Action: Sustainable Trade
Effective Climate Action: World's First
Episode 4- Greening Our Grids
Effective Climate Action: Powering the Future
Effective Climate Action: Growth Potential
Effective Climate Action: Scaling-Up
Episode 3-Barriers to Break Through
Effective Climate Change: Taking the Lead
Effective Climate Action: Closing the Gap
Effective Climate Action: Strong Partnerships
Episode 2- Mobilising Currency for Climate
Effective Climate Action: Driving Change
Effective Climate Action: The Need
Effective Climate Action: The Challenge
From The Frontline
Episode 1- Beyond Words
Effective Climate Action: Channeling Support
Effective Climate Action: Taking Action
Effective Climate Action: Our Mission
Promo for CDB Climate Action Series- Confronting the Caribbean Climate Crisis
Joint MDB Series Promo: Investing for a Greener World

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