Why does the development of the Blue Economy matter for the Caribbean?
The region is rich in coastal assets. Those assets need to be conserved. But they also represent a generational opportunity for economic development. The Blue Economy is more than just a label. It represents a systematic and programmatic approach to coastal assets that emphasizes not only conservation — but also cash flows and capital investment.
As coastal nations grapple with the implications of the Blue Economy, support for their efforts comes from private capital, and from philanthropic and multilateral development organizations. In the Caribbean region, that charge is led by the Caribbean Development Bank (CDB) who, alongside New Energy Events, are launching a new annual event to catalyze Blue Economy programs and investment across the region.
Blue Economy Caribbean aims to build public and private sector consensus, connect stakeholders, identify sources of capital, and begin the process of building a regional marketplace for projects and financing.
“New and high-value Blue Economy growth industries such as aquaculture, marine biotechnology, deep seabed mining, and ocean renewable energy remain underdeveloped in our region. Development of the Blue Economy should be accompanied by intelligent management and protection of coastal and marine resources.”
– Dr. William Warren Smith, President, Caribbean Development Bank