CIBC Caribbean leads in sustainable finance

CIBC Caribbean’s lead in sustainable finance has been highlighted through its words and in its actions at this year’s Caribbean Infrastructure Forum (CARIF).

During the two-day event from September 24-25 in Miami, Florida, representatives of the bank steered impactful conversations on various topics and revealed its US$500 million achievement in sustainable finance activities.

CIBC Caribbean’s director of investment banking, Isabel de Caires, revealed that in 2023 alone, CIBC Caribbean had arranged more than US$1 billion in transactions, and to date, the bank has arranged more than US$500 million in sustainable finance with commitments in excess of US$300 million.

"As a proud sponsor of CARIF and as a Caribbean bank, CIBC Caribbean is committed to the sustainable development and economic growth of our region," she said.

During CARIF, de Caires spearheaded a session on revitalising tourism through sustainable infrastructure.

The discussion focused on the use of local resources such as geothermal facilities and reverse osmosis systems, resilient development practices to withstand natural disasters and the need for innovative financial instruments to support growth.

The necessity of resiliency in tourism projects, especially considering natural disasters, was underscored along with the need for sophisticated financial instruments to support sustainable development in the region. The importance of private-sector collaboration rather than government reliance was a key theme which stressed the need for clear governmental policies and frameworks that support private investment.

During CARIF, speakers from CIBC Caribbean highlighted the bank’s commitment to mobilising resources and expertise to bolster development projects that not only promise high economic returns but also prioritise environmental sustainability and community resilience.

"This conference represents a unique opportunity to exchange ideas, to show and share best practices, and develop actionable plans to support critical and sustainable infrastructure development," de Caires said. "CIBC Caribbean’s leadership at CARIF 2024 underscores its pivotal role in shaping a sustainable development agenda that not only promotes economic growth but also addresses the pressing need for community-focused and environmentally sustainable initiatives across the Caribbean."