logo
  

U.S.-Caribbean Partnership To Address Climate Crisis 2030 Launched

climatechange nov05 10jun22 lt

Thursday, Vice President Kamala Harris announced the U.S.-Caribbean Partnership to Address the Climate Crisis 2030, or PACC 2030).

PACC 2030 is the Biden Administration's new initiative involving fresh commitments to — and integration of — climate adaptation and resilience and clean energy programs across the Caribbean region.

PACC 2030 will serve as the U.S. government's primary mechanism for regional climate adaptation and resilience and energy cooperation through 2030, as it works toward meeting the long-term goals of the Paris Agreement and the 2030 Sustainable Development Goals (SDGs).

The United States will partner with Caribbean nations and regional institutions to promote stable access to clean energy resources and resilient energy infrastructure. This includes enhancing the resilience of the region's energy systems to both natural and manmade shocks, from hurricanes to oil price spikes.

PACC 2030 will work to expand existing access to project financing and unlock new financing mechanisms to support climate and clean energy infrastructure development in the region. Key actions under this pillar will include increasing U.S. International Development Finance Corporation (DFC) financing for climate and clean energy projects in underserved Caribbean countries, as well as collaborating with multilateral development banks (MDBs) and multilateral climate and environmental trust funds to improve the policy environment and unlock access to additional infrastructure financing, for the Caribbean.

The State Department's Bureau of Energy Resources will collaborate with the U.S. Agency for International Development and the U.S. Trade and Development Agency to lead the new PACC 2030 Investment Facilitation Team.

The United States will work with Caribbean partners to address region-specific needs for early warning, disaster risk reduction, and climate adaptation, and to provide access to global climate data, tools, and information.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT