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Past and Present Green Economy Initiatives and Capacity Building and Financial Mechanisms for the Future Development of the Barbados Energy Sector

  • Tom RogersEmail author
  • Ksenia Chmutina
Conference paper
Part of the Climate Change Management book series (CCM)

Abstract

As with most Small Island Developing States (SIDS), imported fossil fuels make up the majority of Barbados’ primary energy requirements, including electricity generation. As well as using up valuable foreign exchange, this import bill makes the island highly vulnerable to the ever more volatile international energy market. Sustainable development has long been present in the island’s ideological mindset and in 2010 the government of Barbados signalled its commitment towards becoming “the most environmentally advanced green country in Latin America and the Caribbean”. This paper first describes the island’s present fossilfuel-dominated energy sector, as well as past and present green economy-related initiatives. It then discusses two key areas of energy sector reform necessary to promote sustainable development: capacity building and finance, highlighting the role that innovative financing mechanisms could play in decreasing the country’s reliance on fossil fuel imports.

Keywords

Small island developing states Green economy Renewable energy Financing mechanisms 

Notes

Acknowledgments

The authors gratefully acknowledge the Green Economy Scoping Study team at The University of the West Indies, Cave Hill campus, along with all those involved in the Green Economy Scoping Study.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  1. 1.Department of Computer Science, Mathematics and PhysicsThe University of the West IndiesCave HillBarbados
  2. 2.School of Civil and Building EngineeringLoughborough UniversityLoughboroughUK

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