At the 54th annual monetary studies conference held at the Bank of Jamaica (BOJ), Minister of Finance and the Public Service, Dr Nigel Clarke, discussed the suite of funding products the Government had put in place for emergency costs associated with natural disasters. He highlighted the billions of dollars available in the natural disaster and contingency funds and the contingent claims that could be made on the IDB in the event of a natural disaster. However, despite his positive outlook, Dr. Clarke acknowledged the limited coverage provided by the Caribbean Catastrophe Risk Insurance Facility for earthquakes and excess rainfall. He also commented on the country’s vulnerability to natural disasters and the inadequacy of funds spent on improving infrastructure. Dr. Clarke’s focus on debt reduction has left Jamaica underprepared for natural disasters, with concerns about the quality of housing, road infrastructure, and public health services. Additionally, the financial sector in Jamaica is underprepared for a major natural disaster, with risks including damage to buildings and a shortage of liquidity. The Bank of Jamaica has acknowledged that it is not ready to address climate-related financial risks and should prioritize incorporating climate change considerations into financial policy. Despite some progress, such as advanced plans towards the incorporation of climate-related financial risks into its oversight framework, there are still major gaps in capacity to assess and mitigate climate risks. Finally, Dr. Clarke admitted that the national adaptation plan, a critical tool for advancing the country’s climate change agenda, is yet to be finalized.