And while each stakeholder and entity does its part to fight climate change, Minister Habet says that it is still a challenge to source the funds for projects and even salaries at times. He explained what they are doing to close this gap in funding.
Orlando Habet, Minister of Sustainable Development
"Really and truly the portion that the government puts in the special limit, paying of salaries, small projects, we are looking at 20, 25%. There is a huge gap between what we are now doing and actual monies that we need for implementation. But if we can get the private sector to come in and participate, I think that that gap will be narrowed. If we can get to know our climate projects with the carbon bill, the selling of carbon credits, that gap will be narrowed and we can get some of the grants from outside, in addition to grants, get, low, low cost financing I think those gaps can be narrowed. We are actively seeking at this COP again, to try to see how countries can increase their contribution not only to the adaptation fund, but to mitigation, but also now that we have the Loss and Damage Fund established to see how quickly we can also start getting funding for loss and damage, which would be a lot of it would be for restoration purposes and adaptation, it is one area that we are looking at."
