Greater collaboration needed to close green finance gap in Caribbean 

By Shanieka Smith

Staff Writer

#TrinidadandTobago, December 23, 2022 – Regional Advisory Leader and Territory Leader at PwC Trinidad and Tobago, Brian Hackett, says stronger partnerships between regional businesses, investors, and regulators are needed to finance green projects.

“While there has been progress on green financing in the Caribbean, greater collaboration with international agencies is needed to strengthen the regulatory and financial systems to better channel financial resources to sustainable development projects,” Hackett said.

He noted that access to these funds should also be improved.

According to the International Energy Agency, an annual investment of approximately $4 trillion is needed to meet the net zero emissions target globally by 2030. Investors, however, seem to have little trust in sustainability reports.

Hackett said organizations in the region can show their commitment to sustainability by implementing sound Environmental, Social and Governance (ESG) strategies. Alongside this, corporate reporting should also be improved to highlight ESG targets.