Recently, the Minister of Home Affairs, the Hon. Walter Roban, JP, MP, represented Bermuda at the 2nd Caribbean ESG & Climate Financing Summit held on the 29 and 30 of November.
Created in 2021 to accelerate the adoption of a new operating and financing ecosystem for the Caribbean Region, the event brings together borrowers, lenders and investors to normalise the use of environmental, social and governance (ESG) and climate finance region-wide.
Over the two-day event, speakers shared their views on why ESG matters to the Caribbean and the market drivers through various panel discussions, case studies, live polling sessions, interviews and presentations.
The Summit organisers invited Minister Roban to participate in a panel discussion held on Tuesday, the 29 of November, entitled The Regional Leadership Session: Can Sustainable and Climate Finance Re-Shape Caribbean Economies, with Dr James Fletcher, Founder and Managing Director of Soloricon Ltd and moderated by Matthew Perks, CEO of New Energy Events.
This discussion was framed around the following five questions:
- Is climate finance flowing in a meaningful and sustainable way to Caribbean economies? What’s working, and what needs to change?
- What can and should governments do to support good ESG in the private sector?
- Are the multilateral development banks doing enough to support climate finance issuance and debt management strategies?
- Are regional National Development Plans successfully aligning with Sustainable Development Goals?
- With the dust now settling from COP 27, what was achieved from the perspective of small island states?
During the discussion, Minister Roban highlighted the challenges in the Caribbean region, including the need for Caribbean nations to work together during the annual two-week conferences and throughout the year to advance climate change and implement appropriate policies to address rising sea levels. He also discussed the Caribbean Region’s effort and need to finance, manage, and oversee the impact of climate change and implement appropriate legislation to conserve and protect our environment.
Minister Roban stated, “While larger industrial nations will provide some support, all island nations must work together and focus on solving our problems, including building a unified response and strategy to address climate change.”
Minister Roban reflected on the event, saying, “As an island, Bermuda must stand alongside our sister nations in the Caribbean and work together to address the challenges of Climate Change. We will bear the brunt of rising seawater and other challenges it brings. This Summit was an excellent opportunity to reinforce that message and share what Bermuda is doing around our Blue Economy Strategy and maritime environment.”
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