CARIF Market News - Page 2 of 16

Hard-hit by COVID-19, Latin America seen skimping on climate cash

Latin America is investing too little in a green economic recovery from COVID-19, with only 2% of the region’s stimulus funds being spent on projects that help fight climate change, new data from Oxford University showed. Last year, 33 Latin American and Caribbean nations allocated $318 billion to fiscal and stimulus measures, but the tiny […]
Threatened Caribbean coral reefs get a new ally: the insurance industry

As climate change threatens coral reefs around the world, conservation experts in Latin America have enlisted an unlikely ally to try to preserve them: the insurance industry. Source
SDG Index 2021: How did Caribbean countries perform?

Released annually, the Sustainable Development Report is a key resource for tracking countries’ progress towards achievement of the SDGs which are part of the 2030 Agenda for Development agreed to by UN Member States, including those in the Caribbean, in 2015. For those Caribbean countries ranked, Cuba was the highest with a rank of 49 […]
Devastating natural disasters show the need for resilient, sustainable and inclusive infrastructure

The eruptions on St Vincent are only the latest example of the damage such events can inflict on infrastructure that is not built to be resilient. Infrastructure is key to climate mitigation and adaptation efforts across the world. For states like St Vincent, as the La Soufrière eruptions have shown, infrastructure will define the battle […]
Puma Energy launches solar energy program in Puerto Rico

Puma Energy confirmed plans to install solar power at up to 200 of its retail stations in Puerto Rico, announced the company in a press conference. The goal is to reduce its carbon footprint through the installation of a clean energy source. To calculate the amount of carbon footprint the company will use a new […]
New solar energy project to add 60 MW to Puerto Rico’s electric grid

The Puerto Rico Energy Bureau (PREB) of the Public Service Regulatory Board announced today the approval of a solar energy project that will add a total 60 megawatts (MW) of generation to the island’s electric grid. This new price represents savings of $170 million during the life of the contract compared to what the Puerto […]
Pandemic derails Caribbean islands’ bid for greener, cheaper energy

A lack of climate finance, electricity monopolies and now the pandemic’s ripple effects are slowing the Caribbean’s shift from economies run on fossil fuels to clean energy, banking and government officials said on Tuesday. In the Eastern Caribbean, only 10% of energy comes from renewable sources and plans to promote the use of solar and […]
Electric vehicles and renewables will need a dramatic rise in mineral supply, IEA warns

The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met, according to the International Energy Agency. Source
REOI for development of a Caribbean Blended Finance for Resilience Fund (CBFR)

The Caribbean Climate Smart Accelerator (CCSA) has applied for financing from the Caribbean Development Bank (CDB) towards the cost of Consultancy Services for Development of a Caribbean Blended Finance for Resilience Fund and intends to apply a portion of the proceeds of this financing to eligible payments under a contract for which this invitation is […]