What are benefits of the SIDS DOCK Mechanism?
- A mechanism to generate financial resources to support adaptation, by helping SIDS capture and realize the “energy dividend” from phasing down of high-cost petroleum fuels;
- Institutional capacity that allows SIDS to collaborate across regions on issues of common interest in sustainable energy development and climate change adaptation;
- An organizational infrastructure through which others, both private and public, can invest in sustainable energy;
- A means to pursue collective technology development/transfer for common abundant renewable energy resources like ocean energy, and;
- Assistance in converting carbon allowances into funds for investing in renewable energy and energy efficiency for SIDS that wants to take fossil fuel emission caps.
