Le Lézard
Classified in: Tourism and vacations, Environment, Science and technology, Business
Subjects: CON, ENP, ESG

Dominica Signs Deal with Switzerland to Advance Paris Climate Agreement Goals


LONDON, Nov. 29, 2021 /PRNewswire/ -- The Commonwealth of Dominica has approved a bilateral agreement with Switzerland, enabling Dominica to sell its carbon credits to help Switzerland meet its Paris Agreement emissions pledge. The deal was inked by Minister for the Environment, Rural Modernization and Kalinago Upliftment, Hon. Cozier Frederick, at the United Nations Climate Conference (COP 26), in Glasgow, Scotland.

In signing these agreements, the two nations set a standard for international climate projects that meet strict environmental protection requirements. In Dominica, Switzerland will focus on funding initiatives like the electrification of transport on the island. Additionally, financing for a geothermal plant on the island that will be complete by 2023 will also be centred. This project will allow Dominica to reduce its fossil fuel dependence and ensure its ability to provide electricity to the French islands of Guadeloupe and Martinique, encouraging foreign exchange.

For the Caribbean island, which is still reeling from the impacts of Hurricane Maria in 2017, funding from wealthy countries like Switzerland enables the government to build a clean, resilient power system, said Minister Frederick. "We do have a plan, but this plan needs resources ... in the form of human capital and finance," he added.

In 2017, Dominica's Prime Minister, Dr the Hon. Roosevelt Skerrit pledged to become the first climate-resilient country in the world at the UN. To accomplish its mission to power green energy and economy, the government has partnered with donor organisations such as the World Bank, the Caribbean Development Bank, Small Island Developing States, and the Clinton Foundation. The country's Citizenship by Investment (CBI) Programme is also providing a sizable amount of funding.

CBI has been pivotal to generating foreign direct investment that furthers Dominica's climate resilience agenda. Since 2018, the Programme has sponsored the island's green construction of 5,000 hurricane-proof homes and over a dozen schools and health centres. CBI has also cast a green lens on Dominica's tourism sector, bolstering the island's offering with boutique environmentally sensitive villas and resorts.

Ranked number one by the Financial Times' PWM Magazine, Dominica's CBI Programme allows vetted foreigners the chance to gain second citizenship in exchange for monetary investment in a government fund or ecotourism real estate projects. Successful applicants, often within three months, attain the rights that come with Dominican citizenship, like travel to over 75 percent of the world, increased business prospects and the ability to pass citizenship on for generations to come.

Contacts:
pr@csglobalpartners.com, www.csglobalpartners.com


These press releases may also interest you

14 jan 2022
During the month of January, hundreds of veterans and volunteers will lead and support service projects across the country to mark the Martin Luther King Jr. National Day of Service and honor the legacy of Dr. King. The Mission Continues is...

14 jan 2022
Further to the press release dated January 7, 2022, Lomiko Metals Inc. ("Lomiko Metals" or the "Company"), subject to the approval of the TSX Venture Exchange for a non-brokered private placement, has updated the closing of its financing for gross...

14 jan 2022
Bonnie Plants unveiled today its new headquarters in Opelika with a grand opening and ribbon-cutting ceremony marking a significant expansion for the company, which is the largest grower of vegetable and herb plants for home gardens in the U.S. The...

14 jan 2022
On this day, during a heart-warming ceremony that took place on the Sierra Negra ship of the National Directorate of Galapagos National Park, the President of the Republic, Guillermo Lasso Mendoza, signed the presidential decree ordering the creation...

14 jan 2022
CULT Food Science Corp. ("CULT" or the "Company") , an innovative investment platform with an exclusive focus on clean, lab-grown food that is advancing the development of novel...

14 jan 2022
New Jersey American Water has filed a petition with the New Jersey Board of Public Utilities (BPU) for new rates based on the significant investment the company has made or will make into its water and wastewater infrastructure since its last rate...



News published on 29 november 2021 at 04:00 and distributed by: