The cost of reaching Dominica’s goal of being the first climate resilient country in the world by 2030 has been quantified.
According to the Hon Deputy Prime Minister, Reginald Austrie, the turnaround “will cost approximately EC $5.4 billion by 2030 or $5.4 million a year for the next 10 years.”
He was speaking on Friday at a National Stakeholder Consultation on the Climate Resilience and Recovery Plan.
“We know there is a cost to everything but the biggest cost is doing nothing,”Austrie stated.
He says in addition to the financial cost, there are other serious factors to consider.
“Structures, systems and capacity are already being built to enable continued effective delivery of the resilience plan.”
He called the private sector and civil to adopt a climate-smart approach to decision-making
The consultation is the work of the Office of the Prime Minister; the Ministry for Economic Affairs, Planning, Resilience and Sustainable Development, and the Climate Resilience Execution Agency for Dominica (CREAD).
The consultation features expert contributors on each of the panels and is being moderated by permanent secretaries responsible for the headline areas of the Climate Resilience and Recovery Plan.
The headline areas are: strong communities and collective consciousness resilience initiatives; robust economy/services resilience initiatives;
Well-planned/durable infrastructure resilience initiatives, and strengthened institutional resilience initiatives and opportunities and approaches for financing the Climate Resilience and Recovery Plan.