Over the course of two rich, immersive and deeply interactive days, a world-class roster of speakers addressed the critical issues behind the growth of ESG-linked and climate financing across the Caribbean.
Caribbean Stock Exchange Roundtable: Drivers of ESG for the Region
Stock exchanges sit at the epicenter of the Caribbean financing ecosystem. They are uniquely placed to drive the market towards good ESG. Gathering the CEOs of three major regional exchanges, this panel will explore the extent to which exchanges view themselves as drivers of sustainable finance in the Caribbean, initiatives already underway, the challenges to adoption among their member companies, and the potential for regional collaboration to accelerate the transition.
Republic Financial Holdings Limited General Manager, Corporate & Investment Banking Moderator
Coffee Break & Flash Networking
The Caribbean Banking Sector as a Driver of ESG Financing
Regional banks are increasingly espousing their commitment to sustainable lending. But what does this look like in practice? How will funds be allocated? And will they be able to make the case for ESG to their client base?
Are regional banks ready to move forward with ESG-linked lending?
How will metrics and data be deployed?
How can regulation and central bank supervision support ESG lending?
Outside the clean energy space, do we have any early ESG-lending success stories?
What role can and should banks play in driving private sector buy-in?
How can banks support social and gender equity among their clients?
UNEP-FI Regional Network Coordinator for Latin America and the CaribbeanModerator
Taking the Pulse
Live Polling Session
Join us for a live polling session as we gauge the key trends, drivers, and challenges to the roll-out of an ESG and climate-centric financing ecosystem across the Caribbean. A panel of experts will be on stage to discuss the implications.
Robust ESG increases top-line growth, reduces costs, optimizes investment and capital expenditures, minimizes regulatory and legal interventions, and increases employee productivity. The case is strong, but so is the lift. Gathering a cross section of regional corporate leaders, this panel will explore what initiatives are already underway, and what needs to be done to mainstream ESG across the Caribbean.
For the region’s leading corporates, how important is the social license to operate in the Caribbean?
What support from governments and regulators would facilitate strong ESG?
What does the private sector need from regional lenders?
What programs and practices have leading corporates already put in place, and with what lessons learned?
Williams Caribbean Capital Co-Founder and Managing Director
Financing the Future of the Tourism Industry
Many hospitality sector assets are at risk of being stranded in the long-term due to the impact of climate change. How does the sector pay for the resilient infrastructure needed to secure the physical assets? How do we finance the risk? Ultimately, how does the industry act now to secure the industry for tomorrow?
What can we learn from regional groundbreakers e.g. Bucuti & Chukka Caribbean?
How can resorts market ESG to generate a return?
What financing is currently available to the hospitality sector, from what sources and what terms?
Republic Bank (Grenada) Limited Managing DirectorModerator
Policy and Market-Based Mechanisms for Climate Finance in the Caribbean
Co-Hosted By The World Bank | Climate Support Facility
There is widespread concern about the availability and speed of international climate finance that countries have been able to access to accelerate climate action. This panel discussion aims to discuss the previous experience in the region on alternative approaches to climate finance through fiscal policy (e.g. carbon pricing, fuel taxes), the role of market mechanisms (carbon trading), and other instruments to promote sustainable development and green, resilient recovery. This will include a dialogue on additional advantages/benefits of these approaches beyond supporting pathways towards a low carbon and resilient future. The session will shed light on what needs to be done both at the regional and country level to develop and implement such approaches.
Key topics for discussion:
Caribbean experience with climate finance mechanisms (mitigation, adaptation finance)
Options for carbon pricing approaches and benefits beyond climate
Monetizing the energy transition through climate finance
Resources available to develop and implement these approaches
EY Partner, Interim Global Energy & Resources Industry Leader
Jamaica’s US $185m Cat Bond
In 2021, Jamaica issued a ground-breaking catastrophe bond that will provide the island nation with protection of up to US$185 million against losses from named storms for three Atlantic tropical cyclone seasons ending in December 2023.
Structured in partnership with The World Bank and other international donors, Jamaica is the first government in the Caribbean, and the first of any small island state, to independently sponsor a cat bond.
What are the critical features of the bond?
What was the profile of investors who bought the deal?
Is the bond replicable and scalable across the region?
How does the cat bond impact investor and rating agency views on Jamaica’s sovereign risk?
Does this reflect the future of the intersection of climate finance, climate risk, and risk management?
Blended finance – the use of catalytic capital from public or philanthropic sources to increase private sector investment in sustainable development – has been the talk of the town in recent years. But even though concessional finance is abundantly available across the Caribbean, blended finance is yet to take off at scale. What’s holding it back?
Do the DFIs in the Caribbean regard themselves as a provider of catalytic capital? Is that widely understood among the corporate community?
What funding and technical assistance is available?
Is there sufficient dialogue between commercial lenders, DFIs, and corporates?
Where can we point to blended finance success stories, and what were the success criteria?
Private Financing Advisory Network Regional Coordinator Latin America and CaribbeanModerator
Can we Launch a Caribbean Fund For Clean Energy & Climate Technology?
Bring your views and experience to the table as we explore the launch of a dedicated fund focused on Caribbean clean energy and climate technology. We’ll use this session to assess – with the audience – the need, the viability and next steps. The intended output? A new fund which will promote regional entrepreneurship and Caribbean leadership in this space.
Republic Bank Group Head, Investment Banking Moderator
A Vision for a Net Zero Financing Ecosystem in the Caribbean
A multidisciplinary panel of experts and regional leaders gather at the close of the inaugural Caribbean ESG & Climate Financing Summit to explore the big picture, and specifically the financial and institutional infrastructure we need to see to make it to net zero.
The panel will also weigh the social and institutional behaviors which need to change along the way. Can we credibly frame this not just as necessity, but as opportunity, too? What is the timeline, where are the inflection points, and where do we need carrots – and where sticks – to effect change?
Drawing on polling and feedback from the audience, ultimately we will endeavor to create conference-wide consensus on next steps and on what success will look like.