Sustainable development of region’s oceans and natural resources take center stage in GGGI, CDF agreement

The Global Green Growth Institute (GGGI) and the Caribbean Biodiversity Fund (CBF) have formalized their partnership through the signing of a Memorandum of Understanding (MoU), aimed at strengthening collaborative efforts to promote blue economy development and sustainable growth across the Caribbean region.

Completed in August 2025, GGGI explained in a statement that this agreement emphasizes leveraging GGGI’s expertise in implementing environmentally sustainable and socially inclusive strategies to foster economic advancement. Simultaneously, CBF’s strength in developing innovative financial mechanisms and implementing impactful conservation projects will support regional efforts to protect biodiversity and promote sustainable livelihoods.

Together, the organizations will collaborate with Caribbean nations to enhance planning processes, financial strategies, and institutional capacity at both national and local levels. The statement outlines the common goal as unlocking opportunities within emerging sectors by attracting increased investments—public and private alike—and translating national development plans into tangible actions. These efforts aim to bolster conservation initiatives, develop nature-based economies, and strengthen resilience to climate change.

The “blue economy” pertains to the sustainable development of ocean resources to stimulate economic growth, improve living standards, and preserve ocean ecosystems. In the Caribbean, where more than 90% of economies are ocean-dependent, adopting this approach is crucial for balancing development needs with marine conservation priorities.

The concept of green growth complements this by promoting economic progress that minimizes environmental risks and addresses ecological scarcity—ensuring that growth is resilient to climate impacts and inclusive for all communities. Together, these strategies are vital for securing the region’s long-term sustainability and global competitiveness.

The partnership aims to foster increased regional cooperation and South-South collaboration, emphasizing knowledge exchange and leadership development. Plans include establishing learning hubs and collaborative platforms to facilitate the exchange of ideas and implement practical solutions for advancing the blue economy and green growth in the Caribbean. Drawing on insights from both public and private sectors, the collaboration will build on lessons learned in areas such as conservation finance, nature-based economic development, and climate resilience, as outlined in the press release.

At CBF, our commitment goes beyond conserving nature,”  stated Karen McDonald Gayle, CEO of CBF, expressing the significance of the alliance, “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.”

Daniel Muñoz-Smith, GGGI’s Caribbean Representative, highlighted the strategic importance of the collaboration, saying, “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. 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 ongoing initiatives between GGGI and CBF, which include exploring new frameworks such as blue bonds and circular economy innovations, aimed at supporting Caribbean countries in achieving their sustainable development and conservation goals.