Caribbean News
Jamaica Strengthens Climate Action
#Jamaica, May 12, 2022 – Jamaica has updated its Climate Change and Emissions Policy frameworks to effectively respond to climate change impacts and support transformative action to ensure environmentally sound management of emissions.
The revised frameworks, which define Jamaica’s goals, strategies and key activities/measures for implementation, were approved by Cabinet as Green Papers in February 2021.
Since then, the Ministry of Economic Growth and Job Creation, through its Environmental and Risk Management
Branch, has engaged with the public on the contents, while refining the documents.
Minister Without Portfolio in the Ministry, with responsibility for the environment, climate change, water and the blue and green economies, Senator the Hon. Matthew Samuda, said the public engagement has allowed the Ministry to “benefit from significant input from several stakeholders, including youth representatives, environmental practitioners, transport and energy experts”.
Speaking at a virtual townhall on the documents recently, he explained that the 2015 Climate Change Policy Framework was revised and updated to reflect a greater focus on climate change mitigation and action and align with the goals outlined in the Paris Agreement to the United Nations Framework Convention on Climate Change and Jamaica’s 2030 Agenda for Sustainable Development.
“The updated framework speaks, specifically, to addressing the detrimental effects of climate change,” he noted.
The Climate Change Policy Framework, at the time of its development seven years ago, focussed on the establishment of a sustainable institutional mechanism to coordinate climate action in Jamaica.
Chief among its objectives was the mainstreaming of climate change considerations into national policies and development planning and to build the country’s capacity to implement climate change adaptation and mitigation activities.
Since then, several developments have taken place that have necessitated updates to the policy.
The primary change is the fact that Jamaica became a signatory to and ratified the Paris Agreement in 2017, which has strengthened global climate action.
The 2015 Agreement sets out a global framework to avoid dangerous climate change by limiting global warming to well below two degrees Celsius and pursuing efforts to limit it to 1.5 degrees Celsius.
A central aim of the Agreement is to strengthen the global response to the threat of climate change as well as the ability of countries to deal with the impacts.
Acting Senior Director of the Environmental Risk Management Branch at the Ministry, Nicole O’Reggio, said that the updated Climate Change Policy Framework places greater focus on mitigation, research, data collection and technology transfer needs.
She noted that the revised policy has three goals – to strengthen Jamaica’s adaptive capacity and resilience to reduce its vulnerability to climate change; pursue low carbon development and enhance access to and mobilisation of climate finance; and third, to promote public education and awareness relating to research and technology transfer towards climate action.
She said there is also an objective of “improving the governance framework for climate action and ensuring transparency and accountability”.
Meanwhile, the Emissions Policy Framework puts forward several objectives, strategies, and actions to improve the mechanisms that govern air quality management.
Manager of the Air Quality Branch of the National Environment and Planning Agency (NEPA), Shannen Sacra, noted that the policy provides directives on how the State will approach its responsibilities, to ensure that the management of emissions is environmentally sound.
“[This includes] a monitoring, reporting and evaluation framework, which identifies roles and responsibilities for the coordinated execution of the policy,” she said.
“Also, we want to say that we are going to focus on outdoor air pollution as opposed to air pollution within households,” she continued.
Ms. Suckra said this will include addressing the management of emissions from industrial processes such as power generation; land, air and sea transportation; waste disposal and treatment; land use and biomass; burning of agricultural by-products; and residential and commercial sources.
Additionally, she said the Ministry will seek to develop and implement an Air Shed Management Plan and increase public education about air quality issues to facilitate participation in the protection of health and the built environment.
“We want to provide and make available, data and information on emissions of air pollutants, including the annual ambient air-quality reports. So, we want the public to be armed with the requisite information so that they can actively participate in the decision-making process,” she noted.
Additional air-quality regulations can be found under the Natural Resources Conservation Authority Act, Public Health Nuisance Regulations, the Clean Air Act, Country Fires Act, and the Road Traffic Act.
The updated frameworks are available for viewing on the Ministry’s website at www.megjc.gov.jm/policies/.
Contact: Chanel Spence
Release: JIS
By Deandrea Hamilton | Editor
September 28, 2026 – Wall Street initially flinched at the $3-billion handshake. But in a matter of days, it was smoother sailing.
Perhaps the bigger Caribbean business story is not what Sandals Resorts International is getting from the deal. It is who is writing the
cheque — and what that says about what Gordon “Butch” Stewart built.
As reports of Royal Caribbean Group’s Sandals deal circulated Tuesday, RCL shares plunged 6.14 percent from Monday’s $250.25 close to $234.89, on sharply elevated trading.
When the agreement became official Wednesday — approximately $3 billion for a 50 percent equity interest in Sandals and Beaches Resorts — shares slipped another 1.95 percent to $230.30 and touched $222.22 intraday. Investors were digesting both the size of the investment and committed debt financing secured through Morgan Stanley.
But by Thursday, RCL rebounded 3.77 percent, with shares continuing their recovery Friday to finish the week around $243. Analysts were also looking ahead: JPMorgan reportedly raised its RCL price target from $345 to $394, while Citi placed the company on a 90-day positive catalyst watch.
And just who is RCL?
Royal Caribbean Group is a global vacation giant, publicly traded on the New York Stock Exchange with a market value of roughly $65 billion. Its portfolio includes Royal Caribbean International, Celebrity Cruises and Silversea, alongside private destinations and an
expanding vacation platform.
So when a company of that scale commits $3 billion for only half of Sandals and Beaches Resorts, the transaction puts a striking financial marker on one of the Caribbean’s greatest home-grown hospitality success stories.
The deal, expected to close in early 2027, creates a 50-50 partnership with the Stewart family and takes Royal Caribbean deeper into the all-inclusive resort business.
Butch Stewart started Sandals in Jamaica in 1981 believing a Caribbean company could compete with the world’s best.
Forty-five years later, one of the world’s biggest vacation companies is prepared to pay $3 billion just to own half of what he built.
Now that’s the handshake that does more than seal a deal — it cements a legacy.
Caribbean News
Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences
Royal Caribbean Group Investment to Advance Sandals and Beaches’ Growth and Broaden the Group’s Vacation Portfolio
Montego Bay, Jamaica and Miami, September 24, 2026 – Royal Caribbean Group (NYSE: RCL) and Sandals Resorts today announced the signing of an agreement to form a partnership in the all-inclusive resort space with a 50% investment from Royal Caribbean Group. Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform.
The partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty program. United in a shared history in the Caribbean and connected by a love for their communities, the companies will offer travelers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.
The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately $2 trillion global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.
“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” said Jason Liberty, Chairman and CEO, Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests. Our partnership with
Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go,” said Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.” Stewart added, “As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”
The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in
guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts. Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.
Under the terms of the agreement, Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3 billion, representing a forward EBITDA multiple of approximately 10x. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment. The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.
BofA Securities and PJT Partners acted as financial advisors, and Latham & Watkins and Jones Day acted as legal advisors to the Sandals Group. Perella Weinberg Partners and Morgan Stanley acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Royal Caribbean Group.
PHOTO CAPTION: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, mark the signing of an agreement to form a landmark partnership that expands Royal Caribbean Group into the all-inclusive resort space and supports the future growth of Sandals and Beaches Resorts. The signing took place at Royal Caribbean Group’s new headquarters in Miami, with the city’s skyline in the background.
The Caribbean tourism deal first reported as a possibility on Tuesday is now a signed agreement. Royal Caribbean Group plans to pay
approximately US$3 billion for a 50% stake in Sandals and Beaches Resorts, putting the value of the business at about US$6 billion. The purchase is expected to close in early 2027, subject to approvals.
Founded in Jamaica by the late Gordon “Butch” Stewart in 1981, the resort business has a presence across nine Caribbean destinations, including Jamaica, The Bahamas and Turks and Caicos. Sandals has described its workforce as nearly 20,000 people, most of them Caribbean nationals.
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality,” said Adam Stewart in the announcement carried by PR Newswire. He will remain executive chairman, while the Stewart family retains a stake. The companies say existing reservations and resort operations will continue as usual.
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