Caribbean Sustainable Energy Conference.
Chair’s Opening Address - 2nd June 2025.
Mala Baliraj, Chairperson, Energy Chamber of Trinidad and Tobago
A hearty good morning to all. On behalf of the Board of the Energy Chamber of Trinidad and Tobago, I Welcome you to the Caribbean Sustainable Energy Conference 2025, with the theme of Adapting and Recalibrating.
Since we met here one year ago, there have been major shifts in the global landscape for sustainable energy. We have seen some major economies cancelling or restructuring previous policies, to encourage investments into lower carbon energy sources; the United States being the most obvious case, but they are not alone: as many other countries have also either scaled back subsidies or pushed back regulatory deadlines that were driving the energy transition.
As a result, we have seen major global energy companies adjust their ambitions for the energy transition, as they are strongly impacted by changing investor sentiments. In several democracies there has also been push back against “net zero” ambitions by political parties.
Nevertheless, it is important to note that overall global investments into low carbon energy have continued to grow, with the International Energy Agency (IEA) estimating that total clean energy investment worldwide - exceeded 2 trillion US dollars in 2024– this includes renewables, electric vehicles, nuclear power, grids, storage, low-emissions fuels, efficiency improvements and heat pumps. This is double the estimated 1 trillion US dollars going to coal, gas and oil developments.
In the Caribbean, we have seen continued strong interest in the development of clean energy:
Barbados has set ambitious targets for renewables outlined in the Barbados National Energy Policy (BNEP) document to achieve the 100% renewable energy and carbon neutral island- state transformational goals by 2030.
Guyana is maintaining its 7 central themes in its Green State Development Strategy, even as it ramps up oil production.
Grenada’s National Sustainable Development Plan (NSDP) is the anchor for their development agenda and priorities
Dominica is taking a lead in geothermal whilst
Jamaica is a forerunner with wind, solar and the shift to natural gas for power generation.
At home in Trinidad & Tobago we have our first grid scale solar project – the biggest in the region - due to come online later this year. Along with the significant ongoing efforts for the introduction of low carbon hydrogen, carbon capture, low carbon marine fuels and methane reduction activities.
While there is clearly progress across the region and tremendous opportunities exist, the reality is that actual implementation lags behind ambition. Given the global shifts already identified, it is important that we take a hard and honest look at where we are and what we need to do to close that gap. The conference theme of Adapting and Recalibrating creates the space for us to undertake that view in the next 2 days.
We are optimistic that the conversations and sharing will give us a closer understanding and an honest assessment of where we are both nationally and regionally.
The discussion on sustainable energy in the Caribbean, tends to focus mainly on the electricity sector and investments in renewable energy. While this is absolutely crucial., there also needs to be a focus on the industrial sector and what are often called the “hard to abate” sectors. Within the Caribbean, the Energy Chamber of Trinidad & Tobago is uniquely placed to bring together experts from the traditional fossil fuel sector, heavy industry and specialists working in renewables and energy efficiency, to discuss shared challenges and opportunities to the benefit of our region. This sets apart this conference, from some of the other regional sustainable energy forums.
We are honoured to welcome some of the global leaders in low carbon marine fuels present in Trinidad who can help the Caribbean find a sustainable pathway to meet new marine sector fuel regulations. Likewise, we can benefit from the expertise of major global fertilizer producers to help identify sustainable agricultural practices. And, we can leverage the engineering expertise from the oil and gas industry to meet complex challenges in project execution, for areas like offshore wind. Skills resident in Trinidad & Tobago can be used for the benefit of the entire Caribbean.
The Energy Chamber has always been actively involved in efforts at regional integration. We continue to believe that the full implementation of the CARICOM Single Market and Economy – or CSME – will help boost economic development in all Caribbean countries. The private sector in Trinidad & Tobago has demonstrated its readiness to share experiences, to invest and to work in partnership with companies across the region. As in many cases it is the private sector who has led on regional integration, and we remain committed to the cause.
While the private sector can and does trade across borders, it will need a collaborative approach with governments, regulators and regional organizations to fully benefit from integration of energy systems. There is a big potential opportunity with regional grid integration, and we think that is a conversation that needs to be actively pursued. We are clear that all of the economies in our region are small and vulnerable to external shocks. Better regional integration will help build resilience and allow for a more diversified energy mix.
Some of you may recall that the 2024 theme of this conference was Collaboration for Action. That theme emphasized the need for collective efforts among all stakeholders to be able to achieve sustainable energy goals in the region. One year on, that need has not changed, despite all the changes in priorities and policies we are experiencing. The need for us to work collaboratively is still crucial if we are to meet the challenges of the energy transition. That collaboration is required for stakeholders within each country, stakeholders such as the private-sector, the government, academia and civil society – and the collaboration is also required among countries in our region.
The Energy Chamber’s purpose, is to build resilience through collaboration for a sustainable energy future. We believe we play a key role in creating the space to bring people together as an association, and your presence and participation in the next hours, are your contribution to building a life powered by sustainable energy in the Caribbean.
In closing, I ask that you bring your passion, your knowledge, your curiosity and your tenacity to helping us achieve our purpose. It is our collective will, that will overcome the barriers we face on the journey to sustainability. So think about what does adapting mean to you and what is required to recalibrate, as you share your ideas freely, listen generously and contribute fully.
I wish you all a great conference and I look forward to talking with many of you over the coming days.