By: Staff Writer
October 25, 2024
CIBC Caribbean, said in a release that the Caribbean Infrastructure Forum (CARIF) provided event goers with an opportunity to “engage in workshops on Sustainable Finance and Carbon Trading.
CIBC also said: “Industry leaders and stakeholders gathered to explore how sustainable finance can not only drive economic growth, but also address the pressing environmental challenges facing the region.
“Hosted by CIBC executives, Siddharth Samarth, Managing Director and Head of Sustainable Finance, and Larry She, Executive Director of Global Markets Trading, Global Commodities, the workshop explored the latest global trends in sustainable financing and showcased practical case studies on creating green frameworks that broaden access to capital. These frameworks are essential for signaling commitment to environmental, social and governance (ESG) goals, which are increasingly important to investors.”
Samarth underscored that, “Sustainable finance is not just a trend; it is an essential paradigm shift that is reshaping how businesses operate and invest. By integrating sustainability into corporate strategies, companies can unlock new capital sources while aiming to contribute positively to environmental goals. This shift is crucial for long-term economic resilience.”
CARIF 2024 arrived at a pivotal moment for the Caribbean. The pandemic is in the rear view mirror – although the economic impact lingers. Meanwhile, a rapidly-changing climate presents myriad challenges. At CARIF 2024, they gathered the spectrum of market participants to explore a multi-sectoral view of opportunities to develop and invest in the resilient and sustainable infrastructure the region needs.
CIBC also said: “The workshop also delved into carbon markets, examining how trading systems allow businesses to buy and sell carbon products. These mechanisms not only provide flexibility in meeting regulatory requirements, but also drive investment in innovative projects aimed at reducing greenhouse gas emissions.
Samarth said, “Understanding the carbon market is crucial for driving sustainable initiatives forward. The potential for carbon trading is immense, and it represents a significant opportunity for businesses to align their operations with climate goals. Our discussions today serve as a springboard for the Caribbean to engage in this growing market.”
The release continued: “Attendees learned practical steps for executing sustainable finance transactions, including the identification of eligible projects and the importance of second-party opinions to verify the integrity of financing frameworks. The interactive case studies highlighted successful past issuances from organizations in the Caribbean and Canada. This demonstrated how sustainable finance can facilitate financing transition activities that aim to enable a low-carbon economy.
“The workshop also covered emerging themes like biodiversity finance and climate resilience initiatives. It showcased how sustainable projects can attract investments that aim to benefit both the environment and the economy. Participants left equipped with valuable insights to leverage sustainable finance tools and strategies in their respective regions.
“CIBC Caribbean is committed to fostering sustainable development across the region through innovative financial solutions. By hosting workshops like these, the bank aims to empower local businesses and communities to harness the full potential of sustainable finance, paving the way for a greener future.”