Commonwealth ministers call for financing to support shift from fossil fuels

Staff Writer
Commonwealth ministers have called for financial assistance, debt relief and technology transfers to help developing countries move away from fossil fuels without undermining their economies.
The proposals were discussed on 3 November during a Fossil Fuel Treaty Initiative briefing held alongside the Commonwealth Heads of Government Meeting (CHOGM) in Antigua and Barbuda. Representatives considered how an international treaty could address the economic and social costs of reducing dependence on oil, gas and coal.
Ghana’s Foreign Minister, Samuel Ablakwa, said a proposed treaty deserved serious consideration, particularly if it provided accessible financing for renewable energy and other low-carbon projects. He also called for debt restructuring, concessional loans and technical assistance.
Countries should be able to pursue transition plans suited to their development needs, energy infrastructure and financial capacity, Ablakwa said. “A transition that leaves developing countries behind cannot be truly just.”
Antigua and Barbuda’s Minister for Health, Wellness, Environment and Civil Service Affairs, Michael Joseph, said the transition must take place over time to cushion the economic impact on countries dependent on fossil fuels. Antigua and Barbuda became the first Caribbean country to join the treaty initiative in 2023.
Joseph warned that continued dependence on fossil fuels threatened livelihoods and long-term development in vulnerable countries.
Bahamas Foreign Minister Frederick Mitchell stressed that human activity was driving climate change and said governments could change course to address the threat to small island developing states.
Gillian Cooper, political director of the Fossil Fuel Treaty Initiative, argued that countries willing to act should pursue an agreement rather than wait for universal consensus, which she said could weaken proposed measures.
The initiative said more than 25 countries were involved in discussions towards a negotiating mandate. Ministers and representatives from Ghana, The Bahamas and Antigua and Barbuda took part in the briefing, alongside former Trinidad and Tobago central bank governor Jwala Rambarran. Foreign ministers from St Vincent and the Grenadines and Lesotho, and delegation heads from Seychelles and South Africa, were also present.