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Caribbean Shipping Association and IDB to work together on decarbonisation

Photo: AdobeStock An overhead shot of containerships in port
The Caribbean Shipping Association (CSA) and the Inter-American Development Bank (IDB) have signed a memorandum of Understanding (MoU) to collaborate on decarbonisation.

The agreement aims to expedite the decarbonisation of the shipping industry, while simultaneously enhancing the economic and social development of the region.

The three-year MoU strives to improve the efficiency and efficacy of maritime transport activities and services, as well as optimise the operations of seaports, harbours, and their associated hinterland activities, in the Caribbean.

The partners will conduct joint capacity-building activities to advance shipping and trade policies and regulations on decarbonisation, the circular economy, labour affairs, gender inclusion, SMEs, and institutional strengthening. They will also work on technical and operational matters related to reducing the use of fossil fuels in seaport activities, such as operation and maintenance.

The partnership will also include the creation of new alliances and the analysis of existing policies and regulations to support the shift towards decarbonisation of shipping and port services in an enabling environment.

“This partnership is an essential step in our mission to support the region’s economic development. As we know, the Caribbean relies heavily on maritime transport for trade. This partnership will create opportunities to enhance trade, which is critical for economic growth,” said IDB Vice President Richard Martínez.

“The enactment of our partnership today will help to bolster our efforts to protect the region’s environment and hasten our progress to adopting better technologies, procedures, and energy alternatives. This agreement is not only necessary for the environment but also for economic growth and international cooperation,” the President of the Caribbean Shipping Association, Lindsay Marc Sampson said.

TAGS: Americas