Caribbean leaders agree cost-effective ‘climate-friendly’ PPP to help hurricane-stricken islands

13 Dec 17

Leaders in the Caribbean plan to launch a new public-private partnership to create the world’s first ‘climate-smart zone’, following the hurricanes that swooped across the islands earlier this year.

The plan aims to catalyse up to $8bn of investment to bring greater energy and infrastructure resilience to 3.2 million households across the Caribbean in a ‘climate-smart’ way, which cuts costs and carbon at the same time.

The plan aims to catalyse up to $8bn of investment to bring greater energy and infrastructure resilience to 3.2 million households across the Caribbean in a ‘climate-smart’ way, which will reduce greenhouse gas emissions while increasing food production.  

The announcement came at the One Planet Summit in Paris on Tuesday, as world leaders reviewed progress on the Paris Agreement, two years after it was adopted by governments around the world.

The new public-private coalition aims to find a way to chase ‘climate-smart’ investments, alongside the ongoing emergency response to the islands hit by hurricane Irma and Maria.

The plan could help islands in the Caribbean meet close to 100% of their energy needs from renewable sources, according to the Digital News Agency.

At the summit, the UK also pledged to give £140m ($186.60m) to tackle the effects of climate change on poorer countries. The European Union said it would provide €9bn ($10.56bn) to combat the negative impact of climate change.

Last month, the World Health Organisation said the financial support to combat climate change and associated health issues in small island developing states should be tripled.

Did you enjoy this article?

Related articles

Have your say

CIPFA latest

Related jobs