This synthesis report focused on five key sectors (agriculture, fisheries, building, transportation and tourism) in Barbados to scope the transition to a green economy on the island. In particular, the study focuses on the applicability of the accepted UNEP definition of green economy to Small Islands Developing States, of which Barbados is one.
Barbados is vulnerable to both fluctuations in the price of its imported fossil fuels and at risk from the destruction of its marine and coastal ecosystems from climate change therefore the report states that the pursuit of a greener path to economic development is highly attractive to the country.
The document continues to explore options for greening the five areas of focus by looking at strengths, challenges and investment gaps, measures and potential returns on investment. The report concludes by analysing the enabling conditions of a transition to the green economy, which include: finance, development, access and technology; trade, tariffs and investment; taxation, incentives and fiscal reform; education, training and capacity enhancement; standards and regulation; government procurement; governance and institutions; information, data analysis and communication.