The document discusses the potential for green growth in the Caribbean region. It notes that Caribbean countries are highly vulnerable to economic, social, and environmental challenges due to their small size and reliance on tourism and agriculture. Green growth is presented as a way to build resilience through more sustainable development. The document outlines what green growth entails and provides examples of Caribbean countries developing green economy strategies and investing in renewable energy and eco-friendly initiatives. However, it also mentions challenges like high debt levels that could limit green investment. Overall, the document argues that pursuing green growth could help Caribbean countries better manage vulnerabilities and transition to more sustainable economic models.

1. THE POTENTIAL FOR GREEN GROWTH IN THE CARIBBEAN
CTA Regional Policy Briefing – Building resilience in small island
economies : from vulnerabilities to opportunities
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23-24 April 2012, Mauritius

2. BACKGROUND
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3. BACKGROUND
 The Caribbean Region: Small Island Developing States and Low-Lying Coastal States
Caribbean: 12 times more vulnerable than other regions (OECS SIDS more so)
Physical: Natural disasters, environmental degradation, loss of bio-diversity etc
Economic: lack of natural resources, small economies, limited markets, high
transportation costs, external shocks, highly indebted, competitiveness
Social: poverty, social inequality, limited human resource base, crime etc
How then do we build
resilience given the interplay
of a multiplicity of inherent
handicaps?
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4. WHAT IS GREEN GROWTH/ECONOMY?
UNEP:
“…results in improved human well-being and social
equity, while significantly reducing environmental
risks and ecological scarcities. In its simplest
expression, a green economy can be thought of as
one which is low carbon, resource
efficient and socially inclusive.”
XVII Meeting of the Forum of Ministers of the Environment of Latin
America and the Caribbean:
“A system of economic activities related to the production, distribution, and
consumption of goods and services that results in improved human well
being over the long-term, whilst not exposing future generations to
significant environmental risks and ecological scarcities. It is
environmentally friendly and socially just.”
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5. FROM BROWN ECONOMY TO
GREEN ECONOMY
TENETS OF GREEN GROWTH in the CARIBBEAN CONTEXT:
Natural Capital – Biodiversity: preservation, protection, promotion
 Sectoral greening – tourism, agriculture, fisheries, infrastructure, transportation,
manufacturing etc
 Renewable Energy/Energy efficiency/low carbon technologies
Eco-innovation/technology/technology transfer/training/capacity
Enabling environment: legislative/legal frameworks, institutions, public policy
Investments – Private/Public/Partnerships
Citizen/consumer awareness and behavior
ACCESS TO FINANCE
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6. GLOBAL PARADIGM SHIFT?
Action at the global level:
 United Nations - leading role – discursive shift
OECD – Green Growth Strategy
G20/G8 - Political impetus
Global Green Growth Institute – Technical assistance
Private Sector – Business strategies (CSR), investments
Civil Society Actors – Media, NGOs, Youth
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7. THE CARIBBEAN’S PERSPECTIVE
 The Caribbean Region wedded to the Green Growth/Economy Agenda
Active participants in AOSIS and other regional and international fora
The BPOA, JPOI, MSI simpatico with green growth agenda
Regional Trade Agreements (EPA, CARICOM-Canada etc) – provisions for
innovation, environment etc
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8. THE CARIBBEAN’S PERSPECTIVE
Most if not all CARICOM Member States making transition to a green economy
Political level:
 Barbados Green Economy Strategy
Dominica Organic Isle Initiative
Guyana Low Carbon Development Strategy
OECS St. Georges Declaration (21 Principles)
Developing OECS Green Growth Strategy
Caribbean National Dialogues on Green Economy (CANARI/UWI/GEC)
Caribbean Investment Facility – emphasis on infrastructure, transportation,
energy
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9. THE CARIBBEAN’S PERSPECTIVE
Making Headlines:
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10. THE CARIBBEAN’S PERSPECTIVE
Making Headlines:
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11. THE CARIBBEAN’S PERSPECTIVE
Action on the Ground:
“Barbados to build first waste to energy plant at major landfill” Caribbean360 12.12.2012
“Caribbean’s largest solar plant for Jamaica” Stabroek News, 28.01.2012
“Awards of up to US$200,000 are offered for projects and enterprises to promote energy
efficiency and access to renewable energy in the Caribbean region.” Caribbean360
10.12.2012
“EIB backs Caribbean Geothermal Scheme” EIB 2.02.2012
“Caribbean Sustainable Tourism Conference to include Green Investment Forum”
Caribbean Environment and Energy Business Information Platform 7.03.2012
“Eastern Caribbean seeks funds for green growth agenda” Green Antilles 02.03.2012
“Taiwan committed to providing new technology to St. Kitts and Nevis”
Caribbean Journal 28.12.2012
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12. WHY GREEN INVESTMENTS IN THE CARIBBEAN?
Viable tool for promoting resilience and sustainable development
 Manageable testing ground for pilot projects in green tech
The Caribbean, specifically OECS, harbingers of regional integration/cooperation
Stable financial and capital market (OECS Economic Union, Common Currency etc)
Enable the Caribbean to capitalize on its assets - strategically located - business- and
nature-friendly region.
Small size, highly educated and motivated populations and political stability
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13. CHALLENGES FOR GREEN INVESTMENTS
High Public indebtedness – erodes state capacity to invest
Middle Income Status – limits access to concessionary loans (island paradox)
Political disincentives?
Weak national bottom-up demand
Region wide approach/cohesion
Training and capacity in green sectors
Legal and regulatory frameworks are outdated/nonexistent
Tax code – need to promote shift to green investment
Once addressed:
Unlimited Potential 13

14. Charting a Greener Future in the Caribbean
This involves:
Nationally/Regionally
Best practices and centers/networks of excellence/smart partnerships
Integrated and cross sectoral policy development planning
Green Growth agenda at core of OECS Economic Union/CSME
Promotion of a Green Award for Enterprises (SMEs) (OECS initiative)
“Green collar jobs” across key sectors
SIDS-SIDS cooperation (research, academia, industry clusters)
Effective implementation/monitoring
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15. Charting a Greener Future in the Caribbean
Internationally:
SIDS Unit in UNDESA strengthened
Formal recognition of SIDS category – specialized treatment
Must address ecosystem services – REDD+, marine ecosystem services,
emerging blue carbon frameworks
 Closer partnership with advanced countries/institutions (tech transfer)
Easier access to climate/green financing for SIDS
Bolder involvement/action from MNCs operating in Caribbean
Maintenance of existing development finance/access to concessionary
loans
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16. VISIT THE ISLANDS OF THE
EASTERN CARIBBEAN
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