CASTRIES, SAINT LUCIA, September 21, 2025 – 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. 

“At CBF, our commitment goes beyond conserving nature,” said CBF’s Chief Executive Officer Karen McDonald Gayle. “It’s about preserving the very foundations of our Caribbean way of life. This partnership with GGGI empowers us to turn ambition into action, unlocking finance for communities to restore coastal ecosystems, protect biodiversity, and build resilient livelihoods that sustain us all.” 

“This partnership between GGGI and CBF builds on our shared commitment to support the Caribbean to realize​ the​ full potential of the region’s natural assets, including its marine and ocean resources, which are critical for accelerating inclusive economic and social progress, climate resilience, and environmental stewardship,” said Daniel Muñoz-Smith, GGGI’s Caribbean Representative. “As Caribbean nations pursue sustainable blue and green development pathways, strategic collaborations like this are essential for scaling innovative solutions, strengthening institutional capacity, and mobilizing sustainable finance to accelerate impactful long-term transformation.”   

The MoU complements engagements underway through which GGGI and CBF are exploring initiatives to support Caribbean states in advancing priorities such as blue bond frameworks and circular economy innovation. 

About the Global Green Growth Institute (GGGI)    

The Global Green Growth Institute (GGGI) was founded as a treaty-based international, inter-governmental organization in 2012 at the United Nations Conference on Sustainable Development. GGGI supports its Member States in transitioning their economies toward a green growth model that simultaneously achieves poverty reduction, social inclusion, environmental sustainability, and economic growth. With 52 Member States and 30 Partner countries and regional integration organizations in the process of accession, GGGI delivers programs and projects in over 53 countries. These initiatives encompass developing innovative green growth solutions, technical support, capacity building, policy planning & implementation, and assistance in building a pipeline of bankable green investment projects, project financing, investments, and knowledge sharing. GGGI’s work contributes to its Member States’ efforts to fulfill the Sustainable Development Goals and the Nationally Determined Contributions to the Paris Agreement.   

About the Caribbean Biodiversity Fund (CBF) 

The Caribbean Biodiversity Fund (CBF) is the regional umbrella environmental fund for the Caribbean, dedicated to sustaining nature and improving lives across the region. By designing and managing innovative financing solutions, the CBF helps countries access long-term resources to protect biodiversity, build climate resilience, and promote nature-based economic growth. The CBF manages three strategic programs that drive impact across the region: Conservation Finance via a regional endowment, Climate Change adaptation focused on Ecosystem-based Approaches (EbA), and Nature-based Economies that support circular economy models. These programs actively collaborate with governments, communities, and development partners across the Caribbean to advance shared environmental goals and long-term sustainability. To date, the Fund has supported more than 100 projects in 12 countries, delivering over US$30 million in funding for impactful, locally led solutions. 

 
Ravena Gildharie

Communication and Knowledge Sharing Regional Senior Associate,

GGGI Caribbean   

ravena.gildharie@gggi.org