Climate Change, International Development, Latin America & the Caribbean, Sustainability Local Green-blue Enterprises as a Pathway to Sustainable, Inclusive, Fair and Climate Resilient Economic Development in Caribbean SIDS

The International Institute for Sustainable Development's SDG Knowledge Hub has published this article as part of a series from our 2022 Global Shifts Colloquium, "Islands on the Climate Front Line: Risk and Resilience."

Green-blue Economy in the Caribbean Context

Catalyzing and supporting sustainable micro, small, and medium enterprise (MSME) development was identified as a key strategy to deliver a green economy, defined in the Caribbean context as one that “aims for long-term prosperity through equitable distribution of economic benefits and effective management of ecological resources; it is economically viable and resilient, self-directed, self-reliant, and pro-poor”. At regional dialogues held in 2010-2011 on what a green economy means in the Caribbean context, Caribbean stakeholders recognized the need to put economic inclusion, resilience, and SIDS vulnerability and justice issues at the center of ideas on green economy, and the role of MSMEs in this. Since then, the focus on leveraging marine resources for a ‘blue economy’ in “large ocean states” is now predominant across SIDS. Caribbean authors, however, emphasize that this should be framed by the principles of a green economy, including a focus on economic inclusion and the impacts of climate change.

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