Caribbean: Agreement stimulates transition to low-carbon model
Abu Dhabi, Oct 1 (Prensa Latina) The Caribbean countries' ambition to move towards a low-carbon economic development model is reinforced today with the establishment of an alliance that pursues such purposes.
This is the objective of the Memorandum of Understanding signed between the Caribbean Community Development Fund (CDF) and the International Renewable Energy Agency (IRENA), disclosed the last of the entities during this conference.
The cooperation, the statement said, will support an environmentally friendly generation and the promotion of energy efficiency.
According to the report, the partnership will focus on reducing the region's economic and social vulnerability to the adverse impacts of climate change as well as freeing it from dependence on volatile and expensive fossil fuel imports.
The Latin American and Caribbean region has the potential to obtain up to 85 percent of its energy from renewable sources by 2030, which would help reduce the costs of the energy system, Irena emphasized.
CDF Executive Director Rodinald Soomer stated in connection with the establishment of the partnership that there is a recognized need for increased technical and financial assistance to support the construction and strengthening of the sustainable energy ecosystem in the region.
The new partnership will also enhance CDF's efforts to provide direct support for investments in this area in its member states through assistance programs targeting countries, regions, and sectors operating in the Caribbean Community Single Market and Economy, the communication said.
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