Caribbean policymakers and financiers have emphasized that decarbonization will not succeed through isolated projects or technologies alone, but through coordinated action across sectors and countries, supported by evidence-based planning and investment-ready pathways.
Senior representatives from Caribbean governments, maritime administrations, ports, energy authorities, development banks and financial institutions met for a regional roundtable convened in Port of Spain, Trinidad and Tobago (29 - 30 January) by IMO's GreenVoyage2050 Programme, in collaboration with Global MTCC Network (GMN Phase II).
The event, under the theme 'Unlocking maritime decarbonization', resulted in key draft policy recommendations for the region, including proposals for:
- enhanced regional coordination to harmonize national policies;
- knowledge-sharing;
- capacity building; and
- investment facilitation.
Participants focused on moving from analysis to implementation by aligning policy, infrastructure planning, energy systems and finance. The participation of multilateral and regional development banks alongside policymakers and industry linked technical ambition with financial realism at an early stage.
Global ambition, national delivery
Dr Jose Matheickal, Director of the IMO's Technical Cooperation and Implementation Division, underscored the need to bridge global ambition and national delivery: "The IMO GHG Strategy sets a clear global direction, but implementation happens at country and regional level. What is critical is creating the conditions, policy, institutional capacity and credible project pipelines, that allow finance to flow and turn ambition into action."
The first day of discussions connected the 2023 IMO GHG Strategy with delivery through technical cooperation and regional collaboration.
Findings from the Jamaica Maritime Alternative Fuels Study, supported by the GreenVoyage2050 Programme, were shared to ground the regional dialogue in a concrete country example. The study illustrated how Caribbean States can assess future fuel demand, supply pathways, infrastructure needs and policy implications to inform investment and planning decisions.
Building on this evidence, participants discussed credible fuel pathways for the region, barriers to adoption and where regional coordination could accelerate progress. Interactive mapping exercises captured existing initiatives, infrastructure gaps and opportunities for collaboration across the Caribbean, while practical examples demonstrated how policy intent is already translating into action through green port development, fleet initiatives and pilot projects.
Unlocking investments for the green transition
The second day of the roundtable focused on unlocking investment, with development banks and financial institutions outlining what is needed to improve project bankability and mobilize public and private finance.
Discussions explored financial instruments, risk-sharing approaches and policy signals required to support investment in ports, clean fuels and maritime infrastructure, reinforcing the importance of aligning national priorities with financier expectations.
Ms Thandi McAllister, Director - Legal Services, Maritime Administration Department, Guyana, said: "This Regional Roundtable provided a vital platform for States and other maritime stakeholders to gain valuable insights into the impact and opportunities that are optimizable by Caribbean SIDs and LDCs in their pursuit of decarbonisation goals."
Finally, the participants visited the ammonia-fuelled ship Fortescue Green Pioneer for a first-hand look at alternative fuel technology in use onboard.
