Caribbean Shipping Association and IDB are working on decarbonization

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 accelerate the decarbonization of the shipping industry while boosting the region’s economic and social development.

The three-year MoU aims to improve the efficiency and effectiveness of maritime operations and services, as well as streamline the operations of seaports, harbors and related hinterland activities in the Caribbean.

The partners will undertake joint capacity building activities to advance shipping and trade policies and regulations in the areas of decarbonisation, circular economy, labor issues, gender inclusion, SMEs and institutional strengthening. You will also work on technical and operational issues related to reducing the use of fossil fuels in seaport activities such as operations and maintenance.

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

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

“Today’s completion of our partnership will help strengthen our efforts to protect the region’s environment and accelerate our progress in adopting better technologies, processes and energy alternatives. This agreement is necessary not only for the environment, but also for economic growth and international cooperation,” said Caribbean Shipping Association President Lindsay Marc Sampson.

Source: News Network.