The Bridgetown Initiative (2022)
Mottley’s Bridgetown initiative has been updated over the years, in this paper we analyse Bridgetown 3.0. Bridgtown 1.0 was released in 2022 during COP 27, while Bridgetown initiative 2.0 was released in 2023. Finally, Bridgetown 3.0 is about to be released in 2024, and takes into account the needed reform of the global financial system. This version is also closely tied with the UN and the SDG principles. There are several main differences between version 3.0 and the previous versions.
Firstly, 3.0 includes UDS$ 300 billion coming from private investors to mitigate the effects of climate change. Also, establishing an extra fee fossil fuel companies have to pay, depending on their emissions and financial transactions. Governments must come to a consensus and establish the above-mentioned carbon tax. Additionally, it states that governments have the responsibility to pressure other international organisations to implementing carbon tax.
Moreover, it proposes involving the Inter-American Development Bank and credit rating agencies in the process, working together with the UN and the IMF. Previously, these agencies have been known to be biassed against small and medium countries. Bridgetown 3.0 version calls for the end of this bias, giving an opportunity for small countries to develop. The main difference has been the tax aspect. A new organisation founded by the UN and co-chaired by France, Barbados and Kenya has been responsible for increasing the importance of taxes.
Regarding the effects of the policy on the country, they are limited, as it has not been implemented yet. However there are some possible effects, such as increasing resilience and potential debt relief. This initiative tackles the financial aspect of climate change mitigation. One main aspect of this initiative is that it suspends interest payments in times of crisis such as a pandemic or a natural disaster. Focus on SDG 6, Water and Sanitation. As it has been already discussed, the Bridgetown Initiative focuses a lot on water access by guaranteeing that Barbados has access to clean water and sanitation.
Through this policy, Mia Mottley shows her willingness to cooperate with other countries and institutions to reach a common goal. Through her engagement and commitment, Mia Mottley has become a main actor in the sustainable development stage representing vulnerable nations.
This policy looks at climate change in a holistic approach and focuses mainly on development finance. The restructuring of loans in developing countries to prevent them from entering a debt trap. These financial assistance include infrastructure development, mitigation strategies, technological development and reconstruction.
However, some criticisms have been made surrounding the fact that the bridgtown initiative focuses on mitigating climate change effects, and not on preventing them from happening. It is important to keep in mind, nonetheless, that Barbados contributed virtually 0% to global GHG emissions, meaning that managing their own contribution to climate change is evidently not where the country can best address immediate needs.
Blue Economy Strategy of Barbados (2018)
The Blue Economy Strategy encompasses various initiatives, including the Roofs to Reefs initiative. The implementation of this policy consists highly of technological investment in different tools to combat climate change and issues associated with climate change.
There have been four main implementations throughout the development of this policy. Firstly, the Ministry of Maritime Affairs and the Blue Economy. This ministry focuses on making Barbados a climate leader among the SIDS and guarantee that Barbados is taking advantage of its Exclusive Economic Zone (EEZ) in a sustainable manner, ensuring long term success. Secondly, the establishment of the Roofs to Reef program. This program will be further looked at in the third policy.
Thirdly, the establishment of the Nationally Determined Contribution (NDC). The NDCs are contributions countries make to mitigate climate change effects. Barbados has updated their NDC to fit into the Paris Climate Agreement. Finally, the SDG Fund Joint Program. The Blue Economy Strategy, together with the UNDP are focusing on increasing resilience in the region, leveraging bio marine technologies among others.
Furthermore some examples of policies created include increasing marine protected areas, as a way to protect biodiversity and increase resilience. However, some challenges have risen, as regulations are sometimes challenging and not completely ensured. Moreover, this policy has increased investment in the area, allowing for sustainable development. With diversification and new industries coke new jobs and possible career paths for the locals., Barbados may also benefit from economic diversification.
More economic sectors, especially sustainable economic sectors, increases job creation and thus, economic activity in the country. Additionally, sustainable economic sectors and diversification increases economic security and resilience, safeguarding Barbados´s economic position globally.
Finally, as a small country, Barbados struggles to stand out and be taken “seriously” in the international arena. Being seen as a climate concerned country, focused on furthering their investments and development, may allow for further partnerships with other countries and international organisations. The Blue Economy Strategy enhanced Mia Mottley’s position as both forward thinking and a climate leader. She has had several important roles and titles at the UN, coming from her commitment to climate change.
This initiative addresses climate change in several ways. Firstly, through implementing new waste management strategies, the Blue Economy Strategy focuses on protecting marine ecosystems and coral reefs. Additionally as part of the Blue Economy Strategy, Barbados wishes to restore and protect coastal areas such as sea beds. Sea beds have been shown to be key in carbon capture.
Moreover, Barbados aims to become a fossil fuel free country by 2030. The Blue Economy Strategy promotes investments on other clean energy sources, such as solar and ocean energy. This also plays a part in mitigating climate change. Lastly, as a way to ensure food and water security, Barbados plans to invest and promote sustainable fisheries as well as promoting sustainable fishing practices as a way to ensure fisherman livelihoods and protect marine life and biodiversity.
Roofs to Reefs
This policy is expected to be fully implemented by November 2027. However, some initiatives have arisen from it, such as foreign investment and internal initiatives coming from the government itself. Some of these initiatives have been reflected in housing resilience and an increase in nature based solutions.
The Roofs to Reefs initiative has brought development to various economic sectors. For starters, it has increased economic resilience. The development of new sectors lead to new job creation. Furthermore, new job opportunities enhance economic growth and activity.
Secondly, energy independence. Shifting to renewable energy sources reduces reliance on traditional energy sources, hence, making Barbados a more self-sufficient country. Furthermore, from an economic point of view, renewable energy sources tend to be more cost effective and reliable in the long term, reducing maintenance costs. Additionally the social and community benefits have also been visible when talking about energy independence.
As part of this initiative, high quality housing has increased, making houses more resistant to extreme weather events such as hurricanes. Additionally, there has also been an increase in renewable energy. This ensures energy security in the region, benefiting the community.
Overall, nature based solutions tend to be more beneficial for a country long term. Even though this policy is quite recent, benefits are soon to be seen. When looking at the community impacts, Barbados has recently gotten a lot of attention from the international community, for being a country that places environmental benefits, ahead of economic ones. Although this may be caused by their vulnerability to climate change, it places Barbados in a good position globally, enhancing possible political alliances and support.
Mia Mottley, as the leader of a country trying to survive climate change, benefits greatly from implementing all these policies and projects. Firstly, she is globally recognized for not only being a climate leader, but also a leader with ambition, good leadership skills and motivation, among others. Although her personal motives do not seem to be the main reason she is doing this, they can still be important for her career. Being recognized as a global leader can increase her influence in the global stage, and increase career opportunities.
Within her country, she can benefit from public opinion. All these initiatives tackle climate change at a community level, thus, people will most likely have positive feelings towards her. This is crucial for when she tries to implement or fund other types of initiatives and programmes. From a political standpoint, she is living up to her promises. She promised to make Barbados prosper, which she is. This makes her standout from other politicians, paving the way for a stronger political career.
The Roofs to Reefs initiative tackles various issues regarding climate change mitigation. From an environmental perspective, rainwater harvesting reduces runoff contamination. Furthermore, this initiative also enhances water security and reduces dependence on other water sources. Moreover, promoting and implementing nature based bonds increases financial resilience and sustainability. Moreover, this also furthers innovation within the country, promoting economic growth and activity in a sustainable manner. Finally, through rain harvesting and other types of initiatives comes greater adoption of renewable energies.
IExRAIA Summer Research Program:
This article is an excerpt from a report about Mia Mottley produced as part of an RAIA research program on climate leaders. For a full picture of Mottley’s climate leadership, read the full report. This project was fully financed by IE University’s IE School of Politics, Economics and Global Affairs.
Authors: Africa Romero and Sofia Damasio Figuereido
Editor: Roxane de Bervegin
Project Lead: Francia Morales
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