Posted at 18:54 on 06 July, 2012 UTC
Micronesian presidents have signed an agreement for a debt swap strategy to mitigate the effects of climate change.
The Presidents of the Marshall Islands, Palau and the Federated States of Micronesia have been meeting in Majuro this week for the 12th annual Micronesia Presidents’ Summit.
The deal includes the exploration of thermal energy conversion as a key measure to combat the problem of global carbon emissions which are threatening the subregion through rising sea levels.
The Marshall Islands President Christopher Loeak says the country cannot afford delays in climate change action and says he is pushing forward with the debt swap plan that is being implemented in several Caribbean nations with support from the international NGO The Nature Conservancy.
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