At a time when the world is grappling with climate change and its consequences, this 25th special meeting of the Council for Trade and Economic Development (Environment) is timely. Our Agenda Items speak to critical issues facing the Region, and our deliberations in Georgetown will seek to charter a course for meaningful action for the future.

Within this context, it is appropriate that this COTED Meeting will discuss the development of a Regional Policy on Environment as a direct response to the common challenges and opportunities we face.

As a Region, we experience common vulnerabilities to the effects of climate change. SIDS and low-lying coastal areas have been identified as the most vulnerable regions. Since its establishment in 2002, the Caribbean Community Climate Change Centre has emerged as one of the leading regional authorities on climate change, providing technical assistance and guidance for decision making. A regional policy would help to enhance our ability to better represent the region as a whole.

As we move forward with the momentum from the Bali Conference, and through the Bali Action Plan to devise a comprehensive agreement on climate change by 2009, as well as a successor to the existing Kyoto Protocol, there is also much merit in the establishing of a Regional Task Force on Climate Change Negotiations to build on the current coordinating mechanisms of the 5C’s and CARICOM Secretariat.

Integral to the success of this approach will be the developing of a Regional Climate Change Strategy to guide our common negotiating positions and coordinated approach on climate change. This would also enable us to ensure that due recognition and some form of market-based compensation are given for the vital eco-system services we provide to the planet, such as the significant role of standing forest in mitigating climate change.

Even as we move forward on developing a comprehensive regional approach to climate change, with the effects rapidly intensifying and the dire consequences for food security globally and regionally, there is an urgent need to safeguard our food resources, and integral to this, our freshwater resources.

Many of our territories are water scarce, and even where freshwater may be in abundance, it is not without threat. As a Region, we need to take urgent steps towards a comprehensive assessment and management of our water resources, as they say, ‘Water is Life’ and our very existence will depend on the actions we take today.

As mentioned earlier, we are already feeling the effects of climate change. Within the Region we are witnessing more frequent and intense weather events which threaten our economies and very existence. For example, agriculture has been a chief victim of the changing weather pattern. As a Region we have recognized the need for Comprehensive Disaster Management as far back as 2001 with the development of a Regional Strategy. It is clear we need to build on this and to move forward expeditiously with its implementation.

With rising fossil fuel prices daily, and its implications for all sectors of our economy, as a Region we need to increase the momentum in our efforts towards renewable energy, to build capacity for management, as well as opportunities for financing and access to technology. At the same time, we also need to examine and pursue opportunities from Agro-Energy in a way that does not add to our environmental challenges and jeopardize food production. The insights offered and the outcome of the international agro-energy/bio-fuels seminar held in Georgetown provides a strong foundation for movement.

Finally, I also wish to stress how pertinent our deliberations are to a major challenge facing all our countries, as is case with the entire world – the rapid increase in food prices. Many of the issues to be covered in our meeting, and subsequent actions can, directly and indirectly, influence our ability to respond to these massive food price increases.

I am confident we will together ensure a very result-oriented COTED on the Environment.

Thank you!