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Port of Spain, July 21, 2020: On Monday July 20, 2020, the Institute of Marine Affairs hosted Beyond the Blue; a distinguished lecture on the Blue Economy. The virtual lecture, sponsored by Republic Bank, sought to highlight the possibilities and challenges of using the ocean as a means to drive economic diversification in Trinidad and Tobago.
Feature Speaker, Environmental Scientist, Professor John Agard, along with other panelists representing the energy and biotechnology industries, the business community, and the public sector, all emphasised the plethora of economic opportunities within the marine space of Trinidad and Tobago and their potential to be used in ways that not only fuel economic growth but are also sustainable.
As climate change continues to negatively impact island nations such as ours, there is an increased need for new approaches to the use of the ocean. Emerging sectors such as aquaculture and renewable energy, as well as conventional sectors like fishing and marine-based tourism all form part of the Blue Economy and stand to benefit from the collaborative efforts of public-private partnerships.
General Manager, Treasury at Republic Bank, Baldath Ramkissoon, in his presentation as a panelist stated that financial institutions through their financial products, services and relationships help preserve and safeguard our oceans, and can aid in transitioning to a sustainable Blue Economy.
In efforts to raise public awareness of the economic benefits that can be derived from the Blue Economy, ongoing weekly radio broadcasts have also been sponsored by Republic Bank through its Power to Make a Difference programme.
While economic diversification through the Blue Economy may have its inherent risks, Republic Bank remains committed to the campaign for the sustainable use of Trinidad and Tobago’s marine resources.
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