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The Ministry of Finance, Economic Development, Climate Resilience and Social Security in collaboration with the Climate Resilience, Execution Agency for Dominica (CREAD) and Dominica Association for Industry and Commerce (DAIC) has hosted a Low Carbon Climate Resilience Conference from November 16 to 17, 2023.

This two day conference, targeting the private sector, is geared at accelerating the drive towards a low carbon economy.

Day one of the conference, engaged participants on understanding Dominica’s low carbon climate resilience development pathway, and provided key information on initiatives that are in motion to propel Dominica towards a low carbon climate resilient future.

On day two, the private sector discussed plans and approaches to capture opportunities in the initiatives that were presented on.

President of the DAIC, Mr. Brenton Hilaire says he looks forward to Dominica’s transition to a low carbon economy. 

 “As we embark on this transformative journey towards a low carbon economy, I am filled with optimism the roadmap we are charting today is not merely a blue print; it is a roadmap to a brighter, cleaner and more prosperous future for Dominica. By embracing green energy and sustainable practices, we are taking the first steps towards a thriving economy that balances economic growth with environmental stewardship. I look forward to the days when we will witness windfarms producing clean energy, solar panels adorning rooftops and electric vehicles humming on our streets all day long. These are not just signs of progress; they are symbols of our forward thinking private sector that has embraced the opportunities of a lower carbon economy,” Mr. Hilaire stated.

 He says a number of benefits will arise from the transitional journey to a low carbon economy.

 “In this journey we must be mindful of the broader implications of our actions. The transition to a low carbon economy not only secures a sustainable future but also improves the resilience of our nation. We will be better prepared to mitigate the effects of climate change, protect our natural resources, and safeguard our communities and protect our investment in our businesses,”  he added. 

Chief Executive Officer of CREAD, ambassador, Her Excellency Francine Baron says many opportunities will stem from the transition to a low carbon economy. She highlighted geothermal energy as one of the game changers for Dominica.

 “In delivering our commitments to reduce harmful emissions and transition to clean and energy and technologies, many opportunities emerge for the private sector to take advantage of business opportunities that in turn contribute to the diversification and expansion of our economy. We view for example the development and sustainable use of our geothermal resources as a game changer for Dominica. Dominica has tremendous geothermal resources that can not only supply all of our electrical needs but provides us the opportunity to develop several green industries from it. This is why CREAD has been pleased over the last several months to have been supporting the efforts of government, to develop a green eco industrial park,” Ambassador Baron noted.

 Policy Analyst in the Ministry of Finance, Mr. Alvin Bernard represented the Minister for Finance, Hon. Dr. Irving McIntyre. He spoke to the impact of a green economy on sustainable development in multiple sectors. 

“The green economy offers environmental benefits by mitigating the effects of climate change, preserving ecosystems and safeguarding biodiversity. From an economic perspective, the transition to a green economy drives innovation and fosters the development of sustainable technologies and practices which in turn create new employment opportunities. From a company perspective the transition is not only a global imperative but also a strategic opportunity for business incorporating sustainability into core practices which in turn can enhance brand image and market differentiation,” Mr. Bernard explained.

The private sector roadmap to low carbon economy for 2023-2024 will increase private sector engagement in national climate resilience and low carbon economy.