Caribbean Community (CARICOM) Heads of Government have recognised the occurrence of successive major hurricanes as a new norm to which the region must adapt and have, therefore, acknowledged several proposals from the Caribbean Disaster Emergency Management Agency (CDEMA), which has been tasked with conducting an assessment of the resources needed to operationalise a disaster risk management and mitigation strategy.
The region’s leaders have called for innovative financing mechanisms as well as recapitalisation for the Caribbean Catastrophe Risk Insurance Facility (CCRIF) so that the region can generate financing for the magnitude of reconstruction required in the aftermath of natural disasters.
According to the Communiqué issued at the conclusion of the 29th Inter-Sessional Meeting of the Conference of Heads of Government of CARICOM, the Heads noted that the vulnerability of Member States to natural hazards and the effects of climate change remain key challenges to sustainable development.
