November 19, 2024
- Collaboration to promote renewable energy and energy efficiency across CARIFORUM states.
- Focus on enabling small and medium-sized enterprises (SMEs) to adopt sustainable energy practices.
- Joint efforts in technical assistance, project funding, and knowledge transfer to transform the region’s energy landscape.
At the 29th Conference of the Parties (COP29) on Energy Day, the Caribbean Export Development Agency (Caribbean Export) and the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) renewed a Memorandum of Understanding (MOU). The signing followed Caribbean Export’s panel discussion, Building Climate Resilience in the Caribbean Region – A Private Sector Approach, held in the CARICOM Pavilion. Witnessed by key regional partners, it punctuated the pressing need for concrete climate action to advance sustainable energy solutions in the Caribbean.
The agreement focuses on empowering Caribbean businesses to adopt innovative renewable energy and energy efficiency practices. Key areas of collaboration include technical assistance, capacity building, and the joint development of projects aimed at reducing energy consumption and promoting clean, affordable energy technologies.
Dr. Damie Sinanan, Executive Director of Caribbean Export, emphasized the importance of the partnership:
” This collaboration represents a bold step towards empowering Caribbean businesses to lead in the green economy. By leveraging our combined expertise, we are not only advancing energy efficiency but also driving innovation that enhances competitiveness and resilience across the region. Together, we will shape a region where businesses thrive and contribute to a cleaner, more sustainable future for the Caribbean.”
Dr. Mohammad Rafik Nagdee, Executive Director of CCREEE, highlighted the broader implications of the agreement:
” The Caribbean’s transition to renewable energy is not just a necessity but an opportunity for economic growth and resilience. The private sector’s involvement is crucial in driving innovation and investment in sustainable energy solutions. The renewed Memorandum of Understanding signed on Energy Day at COP29 in Azerbaijan, underscores our commitment to fostering public-private partnerships that will accelerate this transition and ensure a sustainable future for our region.”
This MOU signals a united front in tackling climate change and fostering a sustainable energy ecosystem in the Caribbean. Through their collaboration, Caribbean Export and CCREEE aim to unlock funding opportunities, advance regional energy policies, and inspire innovative solutions for a greener future.