Climate finance in the Caribbean region’s Small Island Developing States
The Caribbean region’s Small Island Developing States (SIDS) face considerable threats from climate change, and considerable costs to cope with and adapt to climate impacts that exceed their financial capacity. This paper analyses climate finance flows to Caribbean SIDS, using data from the Organisation for Economic Co-operation and Development (OECD) Development Assistance Committee’s Creditor Reporting System (CRS). It shows that a total of US$ 1477 million in climate finance – flows labelled as principally targeting climate change – was committed to Caribbean SIDS in 2010–2015, about 6% of total reported aid flows to the region. Only 15 of the 29 countries covered by the analysis directly received climate finance, although others may have received funds as part of a regional allocation. About 62% of the finance has been provided as grants, with the other 38% being loans. Around 48% of the climate finance is for mitigation activities, 32% for adaptation, and 20% for both together.