Barbados leader halts £3m payout to UK MP for Drax Hall plantation

Government U-turn as PM Mia Mottley acknowledges anger from reparations movement over plan to buy Barbados land from Dorset MP Richard Drax

The prime minister of Barbados, Mia Mottley, has halted plans for a multi-million-pound payout to the British Conservative MP Richard Drax for the purchase of 53 acres of the Drax Hall plantation, which he owns.

As revealed in the Observer last Sunday, the payout plan had angered those involved in the Caribbean reparations movement, who said Drax, the MP for South Dorset, should hand over all or part of the 617-acre plantation to the people of Barbados.

Continue reading...

Barbados PM says country owed $4.9tn as she makes fresh call for reparations

Mia Mottley tells London audience that King Charles’s comments about slavery’s impact were welcome

King Charles’s comment that the “time has come” to acknowledge the enduring impact of slavery has been welcomed by the prime minister of Barbados as she spoke in London about the need for reparations.

Mia Mottley said Barbados was owed $4.9tn (£3.9tn) by slave-owning nations, noting that conversations over how this debt should be repaid would “be difficult and will take time”, she said on Wednesday evening.

Continue reading...

Paris finance reforms could untie poor countries’ hands in climate crisis

Changes to the World Bank could unlock developing states access to loans and to the means of staving off disaster

The Netherlands has almost the same amount of solar generating capacity as the whole continent of Africa. That must be, in part, because the interest on a loan to set up a windfarm in Africa is about 17% more than one to do the same in Europe.

Many poor countries enjoy vast natural resources of wind and sun yet struggle to access renewable energy because of the crippling cost of capital imposed on them. Private sector companies perceive far greater risk in poor countries, penalising most heavily the countries in greatest need of investment.

Continue reading...

UK joins calls for World Bank reform to focus funding on climate crisis

Alok Sharma’s intervention puts pressure on Trump-appointed Bank chief who faces calls to resign

The UK has joined calls for sweeping reforms to the World Bank, to focus much-needed funding on the climate crisis, saying that its current structures are not working.

The intervention from Alok Sharma, the current president of the UN climate talks, heaps further pressure on beleaguered World Bank chief, David Malpass. He has faced calls to resign over an apparently climate-dismissing stance, and the Bank’s perceived failures to deliver climate finance.

Continue reading...

Female leadership is good for the world. Just look at Barbados

Mia Mottley is just one of a raft of strong women across the Caribbean and South America tackling society’s most pressing issues. The world could learn a lot from them

There is a common misconception that the developing world is full of archaic values and that women struggle to have their voices heard. The more countries I visit and the more female leaders I speak to, the more I am convinced the contrary is true.

In fact, those in positions of power worldwide could learn important lessons from these strong women when it comes to tackling some of society’s most pressing issues, including pandemics, the climate crisis, education and infrastructure.

Continue reading...

Barbados can be a beacon for the region – if it avoids some of its neighbours’ mistakes | Kenneth Mohammed

The Caribbean’s newest republic must avoid the corruption that has hampered Trinidad and Tobago and use its presidency to ensure good governance

The charismatic prime minister of Barbados, Mia Mottley, elevated her country’s status in the world with her stinging speech at Cop26 in Glasgow last month. This speech resonated throughout the West Indies, a region that has largely been devoid of a strong leader to give these vulnerable small island developing states (SIDS) a voice in the climate crisis debate. The survival of SIDS such as Barbados depends on the finance to invest in measures to limit the global temperature rise to 1.5C, which was the Paris agreement’s main objective.

Mottley called on all leaders of developed countries to step up their efforts as she outlined a solution embodied in flexible development finance. First, create a loss and damage fund made up of 1% of revenues from fossil fuels (which she estimated would amount to about $70bn, or £50bn, a year), accessible only to countries that have suffered a climate disaster and loss of 5% of their economy.

Continue reading...