PULLING OFF AN ENERGY TRANSITION: A ROAD MAP FOR THE CARIBBEAN - The Caribbean’s energy transition is increasingly urgent. High energy prices combined with import dependence on petroleum products leaves the region without access to affordable and reliable energy. Building bankable energy projects at scale, modernizing energy infrastructure, and overcoming stringent regulatory frameworks are all necessary steps. Although there are many challenges along the way, opportunities are not far off. With the right support from Caribbean partners and available concessional financing, the region can be prepared for an energy transition that is creative and politically realistic, equitably serving government, private sector, and citizen interests.
How can the US government and other nations work with the Caribbean’s partners to move the energy transition forward? What steps can Caribbean countries take to provide affordable and reliable access to electricity? What role should the private sector and multilateral development banks play in working with governments to secure financing and technical assistance?
The Atlantic Council’s Caribbean Initiative hosted a virtual public conversation on the importance of the energy transition in the Caribbean. The event featured a new Caribbean Initiative issue brief, which highlights a five-step process on how Caribbean countries can work with partner nations, the business community, multilateral development banks, and regional institutions to build competitive and resilient energy systems.
ORIGINAL AIRDATE: 09/26/23