Jamaica has been given the go-ahead to list the first-ever Caribbean green bond on the stock market, which will be used to raise money to fund environment-friendly projects.
Prime Minister Andrew Holness made the announcement yesterday while speaking at the Green Climate Fund (GCF) Private Investment for Climate Change Conference in Incheon, South Korea.
The GCF, which gave the approval, was established in 2010 as a global platform to respond to climate change by investing in low-emission and climate-resilient development.
Holness says Jamaica will continue to be global advocates for the increased mobilisation of public and private finance for mitigation and adaptation to climate change.
“We reiterate our support for a successful replenishment of the Green Climate Fund, which is today the most important institution that channels climate finance to developing countries, and we will continue playing our role of regulator and market maker to attract more private sector investment into the green economy,” he said.