The CEO of Virgin, Richard Branson, and two dozen Caribbean nations have launched a multi-million-dollar initiative to help turn the hurricane-vulnerable region into a green tech hub resistant to disasters.
The initiative – which is backed with an initial US$ 4m investment – will push to replace fossil fuel-dependent utilities with low-carbon renewable energy sources, build coastal defences such as seal walls, and fund other initiatives to protect against the effects of global warming. The fund will give start-ups easier access to financing for large projects.
