Landmark partnership aimed at combating climate change and advancing carbon project strategies and development in the Eastern Caribbean.
Ottawa, September 7, 2023 – The Organisation of Eastern Caribbean States (OECS) and Invert Inc. today announced the official signing of a Memorandum of Understanding (MoU) to establish a landmark partnership aimed at combating climate change and advancing carbon project strategies and development in the Eastern Caribbean. The MoU establishes a framework for the collaborative ownership, development, financing, and implementation of groundbreaking carbon reduction and removal projects throughout the region.
Under the terms of the MoU, Invert, a leading global carbon removal and reduction company, will combine its technical and financial expertise in developing climate change mitigation and adaptation projects and complementary carbon crediting mechanisms, with the extensive knowledge and regional reach of the OECS. Together, and in collaboration with the Caribbean Climate-Smart Accelerator (CCSA), these entities will pool their resources to accelerate the transition towards a low-carbon and climate-resilient future for the Eastern Caribbean.
“This partnership exemplifies the power and importance of collaboration in tackling climate change; one of the most pressing issues of our time,” says Andre Fernandez, Co-CEO of Invert. “Having been born in Dominica and raised in Antigua, this initiative is particularly close to my heart and my home. I am confident that by combining Invert’s technical carbon expertise and financial resources with the regional strengths and understanding of the OECS and CCSA, this joint initiative will serve as a global model for private public partnerships to capture carbon while creating valuable social infrastructure.”
Director General of the OECS Dr. Didacus Jules spoke to the importance of the partnership in contributing to the Organisation’s Strategic Agenda. He said, “This collaboration is demonstrative of the non-traditional alliances that need to be forged between the public and private sectors and civil society to create innovative, sustainable opportunities for the people of the region. Significantly, the objectives being pursued are consonant with at least four of the OECS’ five Strategic Priorities, namely: Reinvent the Economy; Value the Environment; Build Resilience, and Advance Equity and Inclusion.”
CEO of the Caribbean Climate Smart Accelerator Racquel Moses added, “One of the primary challenges we face in the region is funding adaptation which unlike mitigation is without obvious cash flows. Mechanisms like blue carbon and agreements like this help us tap into innovative financing opportunities that can close the fundamental gap in financing adaptation.”
The joint exploration of the technical and commercial feasibility of multiple carbon projects across the Eastern Caribbean will commence by focusing on mangrove restoration (blue carbon) projects in the region.
Invert is a leading carbon-reduction and removal company committed to empowering businesses, communities, and individuals to take bold climate action. With a mission to drive global goals for decarbonization, Invert is dedicated to making a measurable impact on our planet’s future. We empower action through carbon project origination and financing, sourcing high-integrity carbon credits for businesses, and providing a software platform for organizations to bring employees along the climate-action journey.
Steph Dewar, Marketing Communications Manager
About the Organization of Eastern Caribbean States (OECS)
The Organisation of Eastern Caribbean States (OECS) is an International Organisation dedicated to economic harmonisation and integration, protection of human and legal rights, and the encouragement of good governance among independent and non-independent countries in the Eastern Caribbean. The OECS came into being on June 18th 1981, when seven Eastern Caribbean countries signed a treaty agreeing to cooperate with each other while promoting unity and solidarity among its Members. The Treaty became known as the Treaty of Basseterre, so named in honour of the capital city of St. Kitts and Nevis where it was signed. The OECS today, currently has eleven members, spread across the Eastern Caribbean comprising Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St. Kitts and Nevis, Saint Lucia, St Vincent and The Grenadines, British Virgin Islands, Anguilla, Martinique and Guadeloupe.
Please visit our website for more information: www.oecs.org
Nyus Alfred, Communications Officer
About the Caribbean Climate-Smart Accelerator (CCSA)
The Caribbean Climate-Smart Accelerator (CCSA) accelerates priority initiatives towards the realization of a Climate-Smart Zone, fostering resilience, social, and economic advancement across the Caribbean. The CCSA’s commitment becomes apparent through its multifaceted approach: removing barriers impeding Climate-Smart progress, coordinating curated project pipelines for efficient implementation, advocating for change by amplifying awareness and support for Caribbean Small Island Developing States (SIDS), while monitoring to ensure positive impact.
Please visit our website for more information: www.caribbeanaccelerator.org
Gynelle Findlay, Digital Impact Strategist
(786) 215-CCSA (2272)