One of the issues CARICOM has identified as critically important relates to the vulnerabilities of Small Island Developing States (SIDS). SIDS are a group of developing countries (including CARICOM States) which tend to share similar sustainable development challenges. These include small but growing populations, limited resources, remoteness, susceptibility to natural disasters, vulnerability to external shocks, excessive dependence on international trade, and fragile environments.
The growth and development of SIDSs also held back by high communication, energy and transportation costs, irregular international transport volumes, disproportionately expensive public administration and infrastructure due to their small size, and little to no opportunity to create economies of scale and difficulties sourcing international public and private sector financing. They consist of some of the most vulnerable countries to climate change. Uncertainties and economic impacts associated with the COVID pandemic and the Russian invasion of Ukraine exacerbate SIDS vulnerabilities.
CARICOM and its Member States have been at the forefront in developing policy solutions to these issues. The issues have also been taken up in the course of Canada-CARICOM bilateral relations. Multilateral organizations are also working on aspects of the SIDS agenda.
CARICOM Perspective
An important initiative the context of the SIDS discussion has been the development of policy proposals by Barbados to develop an action plan to reform the international financial system so the world can better respond to current and future crises facing SIDS and other developing countries. Barbados Prime Minister Mottley has characterized these proposals under the heading of “Bridgetown Initiative“.
World Economic Forum Explainer on Bridgetown Initiative
CARICOM Information on SIDS Agenda Small Island Developing States (SIDS)
Canada/International Perspective
International Organization Links
A variety of international organizations have taken up analysis of the SIDS issue. A number of their reports are listed below.
- Caribbean Development Bank work on SIDS Agenda CDB at COP 27 | Caribbean Development Bank (caribank.org)
- UN Office Small Island Developing States | Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States
- UNCTAD Site for SIDS Small island developing states | UNCTAD
- OECD Site for SIDS Small Island Developing States – SIDS – OECD
- IISD Article on SIDS Small Islands, Large Oceans: Voices on the Frontlines of Climate Change | International Institute for Sustainable Development (iisd.org)
