Antigua and Barbuda could see an increase in private sector support in infrastructure, renewable energy, tourism, agriculture, fast-moving consumer goods and the blue and green economy.
The Sustainable Markets Initiative has joined the United Kingdom-Antigua and Barbuda Trade and Investment Mission for a three-day visit to the twin island nation, ending today.
Founded by King Charles, then Prince of Wales, in 2020 at the World Economic Forum’s Annual Meeting in Davos, the initiative is a global effort to promote green and inclusive growth by aligning markets with nature, people and the planet, and is said to have become the world’s ‘go-to’ private sector organisation on transition.
The CEO-led coalition has more than 250 members, including some of the world’s largest companies across industry and financial sectors.
The Trade and Investment Mission was the first time that the Sustainable Markets Initiative had been invited to join, and, as part of its visit, it named Antigua and Barbuda as the first of its five countries of focus for 2024.
Following the group’s participation in the Antigua and Barbuda UK Business Forum in November 2023, and ahead of its commitment to participate in the United Nations’ fourth Small Island Developing States (SIDS) conference this May, the Sustainable Markets Initiative said that it was ready to leverage its business partnerships to support the twin islands.
Jennifer Jordan-Saifi, CEO of the Sustainable Markets Initiative, said the body was “delighted to announce Antigua and Barbuda as a country of focus”.
“We look forward to deepening business and investment partnerships in support of the country’s climate resilience as well as blue and green economy priorities,” she said.
Observer reached out to the group for additional information about their visit.
Tanya Ristoff responded, saying, “Broadly, the conversations are focused on the priorities and challenges for Antigua and Barbuda in terms of strengthening climate resilience and economic growth, and in turn, what are the concrete opportunities for the private sector to support initiatives and projects that address these challenges.
“We’re very much listening and learning and the ability to see first-hand is valuable.”
She added that other countries of focus haven’t been communicated with as yet, and she declared that they will be in dialogue in the coming months.
Trade Minister Chet Greene said, “Antigua and Barbuda is delighted to deepen its relationship with the Sustainable Markets Initiative as a country of focus in 2024.
“As small island developing countries, unlocking financing for demonstrating the unique value that the Sustainable Markets Initiative can bring countries in pursuit of green economic growth [is critical].”