Caribbean Development Bank Advances Regional Climate Action with Stakeholder Consultations for Groundbreaking Caribbean Platform
BRIDGETOWN, Barbados, July 30, 2025 - The Caribbean Development Bank (CDB, the Bank) has embarked on an important round of stakeholder consultations with representatives from 14 CARICOM member states and key regional institutions supporting the mobilisation of climate finance and the energy and transport sectors. The consultations are part of the preparatory phase for the proposal to establish the Regional Platform for Catalysing Climate Action in the Caribbean (RP-Caribbean), a historic, first-of-its-kind initiative designed to unlock climate financing and address barriers to climate action at scale across the region. The proposal will be submitted to the Green Climate Fund (GCF) by the end of September 2025.
This bold initiative was originally announced by the Prime Minister of Barbados, the Honourable Mia Amor Mottley, at the 2025 GCF Regional Dialogue held in Saint Kitts and Nevis. RP-Caribbean will be operationalised through financing from the GCF Readiness Programme with contributions from participating CARICOM Member States.
A Bold Vision for Regional Climate Action
RP-Caribbean offers an innovative mechanism for implementing key priority activities across the region and sectors through an integrated programmatic approach. By addressing systemic barriers such as fragmented climate finance flows, limited fiscal space, and technical gaps, the Platform aims to catalyse investment and accelerate progress toward shared climate and development goals.
The Platform seeks to support regional priorities, including:
- Sustainable energy transition, including intra-island grid connectivity and geothermal energy infrastructure development;
- Enhanced regional connectivity through resilient transport systems and infrastructure;
- Innovative financial instruments (e.g., debt-swaps and specialised funds) to support climate investments without increasing debt burdens;
- Youth capacity building to empower the next generation to engage in climate solutions.
Stakeholder Consultations Key to Success
Over the coming weeks, CDB will finalise consultations with national stakeholders and regional entities to ensure that the Platform’s design reflects local and regional needs while aligning with ongoing initiatives.
“Collaboration is at the heart of RP-Caribbean’s success,” said CDB President, Mr. Daniel Best. “By engaging all Member States and key institutions, we are creating a unified strategy to mobilise resources and drive transformational action. This is climate finance innovation at its best—not just for the Caribbean, but as a model for global climate resilience efforts.”
The consultations provide a critical opportunity to refine key components of the GCF Readiness Proposal, ensuring that the indicative activities and deliverables address the specific needs of CARICOM Member States.
Division Chief of CDB’s Environmental Sustainability Unit, Ms. Valerie Isaac, added, “This initiative bridges the gap between ambition and action. RP-Caribbean is designed to remove barriers and unlock investment for priority areas, from energy to transport and finance. Our consultations will ensure these solutions are comprehensive, inclusive, and practical for implementation.”
Next Steps
CDB remains on track to submit the final GCF proposal by the end of September 2025. Following this, approval from the GCF is anticipated before year-end, paving the way for the Platform’s operationalisation. Collaborations between CDB, the Organisation of Eastern Caribbean States (OECS) Commission, the Eastern Caribbean Central Bank (ECCB), the World Bank, and other regional entities will continue to ensure alignment and maximise synergies across related projects.
RP-Caribbean represents a transformative effort to address shared climate challenges through regional collaboration and innovative solutions, heralding a new era for climate action in CARICOM Member States.
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