The Global Green Growth Institute (GGGI) and the Caribbean Biodiversity Fund (CBF) have signed a Memorandum of Understanding (MoU) to formalize and enhance their cooperation in advancing blue economy initiatives and green growth in the Caribbean.
This collaboration finalized in August 2025 leverages GGGI’s expertise in leading environmentally sustainable and socially inclusive solutions to foster economic growth, alongside CBF’s capacity in piloting financial instruments and other impactful initiatives that aid the region’s conservation efforts. The partners will work with Caribbean countries to improve planning, financing arrangements and institutions at the national and local levels to maximize opportunities in the emerging sectors. Efforts will focus on attracting more public and private investments to turn national plans into real actions and further promote conservation, nature-based economies, and climate-resilience.
The “blue economy” refers to the sustainable use of ocean resources for economic growth, improved livelihoods, and ocean ecosystem health. In the Caribbean, where over 90% of economies depend on the ocean, this approach is vital for balancing development with marine conservation. Green growth focuses on fostering economic progress while reducing environmental risks and ecological scarcities, ensuring that development is both climate-resilient and inclusive. Together, these strategies are central to the Caribbean’s long-term sustainability and competitiveness.
The partnership will encourage more regional and South-South cooperation, with attention on knowledge sharing and building leadership. This includes creating hubs for learning and collaboration to drive both the ideas and practical work behind the Caribbean’s blue economy and green growth. Drawing from public and private sector insights, collaborative approaches will build on lessons learned in conservation finance, nature-based economies, and climate adaptation and resilience.
