The Standing Committee on Finance (SCF), co-chaired by Antigua and Barbuda’s Director of Environment, Diann Black-Layne, and a representative of the European Union, hosted an interactive session at COP 29 to present its critical contributions to the global climate finance agenda.

 

Director Black-Layne, who also co-facilitates the Biennial Assessment and Overview of Climate Finance Flows (BA), emphasized the wealth of information contained in the BA and its significance for developing countries. The BA reveals a general increase in global climate finance flows, presenting both opportunities and challenges for nations like Antigua and Barbuda.

Black-Layne highlighted her government’s proactive efforts to build capacity across key sectors, including the Ministry of Finance, Department of Environment (DOE), non-governmental organizations, and local financial institutions, to access and manage these funds effectively. She explained that as climate finance flows increase, the goal is to ensure that the funds reach households, farms, and businesses to build resilience against climate impacts.

 

“This Biennial Assessment shows that climate finance is growing, and Antigua and Barbuda is positioning itself to benefit,” said Director Black-Layne. “We are creating pathways to ensure that these funds support local communities directly, enabling households to enhance their resilience while fostering sustainable development.”

 

The Director also shared that the government plans to make further public announcements on the progress and impacts of these efforts during the upcoming budget presentation.

The SCF’s session at COP 29 drew a wide range of participants, including representatives from governments, financial institutions, and other key stakeholders, facilitating meaningful discussions on advancing the global climate finance agenda. Black-Layne’s contributions underscore Antigua and Barbuda’s leadership in leveraging climate finance to drive local and global resilience efforts.