Today was Finance Day at COP26 - the moment in the Climate negotiations where the world's largest emitters were asked to put their money where their mouth is for best efforts to solve the Climate Crisis.
And where are we in all this? Well, the negotiators left on the ground now are still driving home the message of Belize's climate adaption needs while touting its accomplishments in conservation too.
But tonight even as Belize's Blue Bond has been the toast of COP26 - the repeated refrain from small island developing states is: show me the money. CARICOM Members are demanding that developed countries scale up finance for nature-based solutions, so that they can access grant or concessionary support on a fast track basis.
Cherisse Halsall remains on assignment in Glasgow and tonight she talks finance matters at COP.
World Leaders have wrapped up their high level …..small island developing states.
Well, it maybe if the UK's Chancellor of the Exchequer has anything to say about it, this morning he attempted to level the balance between cash and climate commitment by announcing plans for his country to become the World's first net 0 financial center
Rishi Sunak, Chancellor of the Exchequer
"Our third action is to rewire the entire global financial system for net zero, better and more consistent climate data, sovereign green bonds, mandatory, sustainability disclosures, proper climate risk surveyllance, stronger global reporting standards - all things we need to deliver and I am proud tht the UK is playing it's part."
He did so, even while city council cleaners in the climate change conference's host city protested by causing a massive gridlock in Glasgow.
But while that proved a challenge to the trips back to our hotels the Belize delegation isn't deterred and this morning we spoke to a newly arrived Minister and C.E.O. of the Blue economy as they triumpantly exited a meeting with the European Union.
Hon. Andre Perez, Minister of the Blue Economy
"We from the blue economy have to prepare ourselves, the milestones `must be met with this blue bonds is entrusted in no other ministry, but the ministry of the blue economy and we are prepared to lead with that."
Cherisse Halsall:
"Sir for your Ministry what are the goals of this conference?"
Hon. Andre Perez, Minister of the Blue Economy
"Well not only for the Ministry of Blue economy, this is one voice, this is one nation and we certainly can't be speaking only as the Ministry of the Blue economy or the Ministry of sustainable development. Prime Minister has said and set the point that we must work together, not only as a nation, but regional, the Caribbean, Central America, we must all come together and I believe that Belize is actually at the right place strategically with a government and with strong responsive leadership, I think, we are leading the way."
Kennedy Carillo, CEO, Ministry of the Blue Economy
"I will tell you that really Belize is the Blue golden child at COP26, the Blue golden child at COP26 I think we need to realize tht everybody wants to hear what's happening in Belize, and now with the blue bonds, even more."
"Under the new Blue economy policy and strategy conservation targets are a part of the strategy, as you can imagine we have been a part of the discussions in terms of the negotiations as it relates to the conservation targets and the new policy and strategy for Blue economy that will be launched at the end of the year includes all of these conservation targets for the next five years."
And later at the CARICOM Pavillon Belize's Minister of Finance Chris Coye looked slightly beyond Belize outlining some of the region's specific challenges.
Hon. Chris Coye, Minister of Finance
"This COP26 is in many ways about Climate finance on coal, the commitments that have been made from the inception of the Paris agreement, the hundred billion dollar goal per annum, those pledges have not been met. They were to be met by 2020, they have not been met. In the interim things have gotten worse and those that are most vulnerable have suffered the most. And those who are most vulnerable are the SIDS."
"It's a learning process for us as well, understanding COP26, understanding the different interest, the different position points and where Belize best fits, what's in the best interest of Belize. We have to understand those positions, the groupings, the particular negotiating points, ultimately next week the ministers will basically be in a room, finalizing some of these positions and we have to understand all these different position so that we are in the best position to make the best decisions for those ministerial meetings."
Hon. Magali Marin Young, Attorney General
"COP is not only about the money it's also to get developed countries to commit more in terms of NDCs, but certainly money, getting them to commit pledges is also a big factor at COP especially for developing countries, who are at the front line in the effects climate change, so yes those are two important things that COP, we hope there will be positive outcomes, we are hoping for better outcomes."
"All of us ae trying to get a top of all the issues and we have to make some critical decisions in terms of developing our domestic legal framework around article 6 carbon trading so as a young government we have a full force out here to see how we could maximize all our conservation efforts and to have them pay financial dividends for the citizenry."
Chancellor Rishi Sunak is expected to welcome climate commitments from private companies covering $130 trillion in financial assets.
