TED Talks Daily
The climate crisis is expensive -- here's who should pay for it | Avinash Persaud
Aug 17, 2023
In this insightful discussion, Avinash Persaud, an economist behind the Bridgetown Initiative, unpacks the urgent financial needs of small tropical nations grappling with climate change. He argues for a green transformation that not only aids these vulnerable countries but also offers profitable opportunities. Persaud shares personal stories from Hurricane Maria, advocating for Dominica to become the world's first climate-resilient nation. He emphasizes the responsibility of wealthier nations to support this initiative, addressing climate inequality head-on.
12:54
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Quick takeaways
- The Bridgetown Initiative aims to make small countries profitable by focusing on green transformation and making resilience affordable through funding from emission taxes and financial transaction taxes.
- The Bridgetown Initiative recognizes the need for shared responsibility in tackling climate change and calls for financing plans that make resilience affordable, flow of finance after disasters immediate, and the green transformation profitable.
Deep dives
Making Small Countries Climate-Resilient
Small countries, particularly tropical ones, feel the brunt of climate change but lack the resources to combat it. Avi Nash Persaud presents the Bridgestown Initiative, a plan to make small countries profitable by focusing on green transformation. After witnessing the devastation of Hurricane Maria in Dominica, Persaud realized that the key is making resilience affordable, financing immediate post-disaster recovery, and investment in renewable energies. This involves funding through emission taxes, financial transaction taxes, and international development banks. By tackling resilience, savings, and revenue, the initiative aims to break the impasse of inaction and make a significant impact on climate change.
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