The Caribbean Climate Reality

Against the backdrop of a devastating hurricane season that once again underscored the region’s extreme vulnerability, the Caribbean Development Bank (CDB) will take the Caribbean’s climate agenda to the global stage at the 30th Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change, scheduled for November 10–21 in Belém, Brazil.

The Bank will lead and participate in a series of events, high-level discussions and bilateral engagements aimed at securing greater access to concessional climate finance and strengthening partnerships for sustainable development.  CDB President, Mr. Daniel M. Best said this intensified engagement reflects both the urgency and opportunity of the moment.

“The Caribbean’s climate reality has never been clearer or more urgent,” he emphasised.  “The recent passage of Hurricane Melissa has underscored what we’ve been warning for years: without predictable, concessional finance, small island states cannot keep pace with escalating climate impacts.  COP30 is one of the most consequential arenas for advancing our case for climate justice and fair financing, and the Caribbean Development Bank will ensure our region’s voice is heard.”

At COP30, the Bank strategically engage governments, international partners, and private investors to deepen partnerships and advocate for increased concessional financing and innovative mechanisms to mobilise resources for the region.  On Monday, November 17, 2025, CDB will co-host three side events that reflect key priorities for climate action and resilience in the Caribbean.

The first session, “Leveraging Private Sector Financing for Transport and Energy Sector Transformation in the Caribbean,” will be held from 10:30 - 11:30 am (BRT) at the CARICOM Pavilion.  The event will explore strategies to unlock private capital through blended finance models, risk-sharing instruments, and innovative partnerships to accelerate investment in renewable energy and sustainable transport systems.

A discussion on “Agriculture and Food Security in the Caribbean: Scaling Innovative Solutions for Climate-Resilient Agriculture” is slated for 12:00 - 1:00 pm (BRT) at the Food and Agriculture Pavilion.  The livestreamed event will spotlight climate-smart agricultural practices and investment opportunities that can strengthen food security and reduce the region’s dependence on imports.

CDB will also join forces with CAF – Development Bank of Latin America and the Caribbean,  the Central American Bank for Economic Integration (CABEI) and the CREWS Secretariat to turn attention to disaster preparedness with a panel on “Climate Information and Early Warning Systems for Latin America and the Caribbean”  Scheduled for 3:45–4:45 pm (BRT) at the CARICOM Pavilion, the discussion will explore initiatives by the three institutions to finance and implement early warning systems for the region.

“CDB’s agenda at COP30 underscores our approach to climate action, which is practical, innovative, and built on partnerships,” President Best noted.  “The Caribbean is helping itself by developing our own solutions to protect lives, preserve livelihoods and transform our energy, transport and agriculture systems to secure our future, but we need the global community to stand with us.”

CDB targets 30-35% of its resources to climate finance demonstrating its commitment to helping Borrowing Member Countries adapt to the accelerating climate crisis.  The Bank is also better positioned to deliver transformative regional interventions through a recent increase in its GCF financing threshold to USD 250 million and its new Climate Change Project Preparation Fund, both of which will help countries design and finance concrete, high-impact projects faster and more effectively.

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...the Government of The Bahamas is considering proposals for solar energy, waste-to-energy, ocean thermal energy plants and wind... ...The geographic and physical setting of The Islands lends itself to a myriad of alternative energy possibilities

Renewable energy in The Bahamas

thenassauguardian editorial

Nassau, The Bahamas

The Minister of Environment and Housing Kenred Dorsett addressed the House of Assembly on “Planning Our Electric Future”, on Wednesday, August 14.

Wednesday marked the PLP’s 100th day in office, so we were not surprised to hear of a plan to combat high electricity costs and promises of alternative energy production.

But The Bahamas does not need and does not have the time for any more plans; the PLP had five years to devise a plan.   We need action.

Integrating alternative and preferably renewable energy production into our power generation portfolio is certainly the way of the future, but was it not the way of the future years ago?  Diversified energy production — coal, diesel, nuclear, etc. — is not a radically new idea and is practiced in many jurisdictions around the world.

The dramatic rise in fuel prices is no excuse.  Fuel prices have consistently been on the rise for the past 10 years, at least, and we see no indication that OPEC intends to diminish rising profits any time soon.  Blaming high energy costs on the high cost of fuel is a dated argument, for which the past and present governments have only reinforced by building and upgrading power production with additional heavy fuel oil generators.

Any additional investment in heavy fuel generation should not be considered as part of reducing the cost of electricity, unless BEC enters a public-private partnership in which maintenance becomes a priority.   Abaco still suffers inconsistent electricity and it was the recipient of the $105 million new 48MW Wilson City plant.

Bahamians are left to bear the brunt of high costs and low reliability brought on by poor planning and management of operations and maintenance.

The minister went on to indicate that the Government of The Bahamas is considering proposals for solar energy, waste-to-energy, ocean thermal energy plants and wind.  The geographic and physical setting of The Bahamas lends itself to a myriad of alternative energy possibilities.

So why hasn’t The Bahamas invested or been the recipient of private investment in alternative energy?  In an ironic twist of fate, Bahamian legislation is our biggest obstacle.  The government must relinquish absolute control over the national grid to allow for some friendly competition to BEC.

As if amending our existing legislation was not difficult enough, pursuing diversification of energy production in The Bahamas will be encumbered by the announcement of a new sustainable energy unit, new renewable energy legislation, new electricity sector regulation and a new national review plan for cross-island sharing.

The government must be transparent and honest with the Bahamian people.  When will we see public or private investment in alternative energy?  Private industry does not have years to twiddle its thumbs while we form new committees.

Should a renewable project be approved tomorrow, it would take years for such projects to ultimately be built and for new electricity to be put into the grid for consumption.  Action must be taken and quickly.  The time for action is not now, it was yesterday.

It is encouraging that the government has received proposals that intend on saving BEC $100 million annually, though such enormous sums of monetary savings leave us intrigued.  The government need not only approve a single entity for alternative power production but an array of alternatives, as some are bound to fail.

It would be a remarkable feat of the PLP’s tenure if alternative power production from a private entity was to enter the grid and coexist with BEC.   It is possible, but only if the government acts as a facilitator rather than a hindrance.

August 17, 2012

thenassauguardian editorial