11 November 2010: The Inter-American Development Bank (IDB) has formalized a US$400,000 grant to pave the way for the preparation of the Caribbean Sustainable Energy Roadmap and Strategy (C-SERMS).

The money will be used to finance a consultancy to assist in developing the C-SERMS, including the following tasks: defining a strategic and targeted regional approach to increase the contribution of renewable energy, energy efficiency and bioenergy in the energy mix; setting achievable targets (2015, 2020, 2025) and outlining steps for specific actions at country and regional levels; providing the basis for firm commitments by Governments within the Caribbean Community (CARICOM) and development partners in achieving these objectives; and providing a reference point or baseline for measuring progress in sustainable energy development within CARICOM.

The first phase C-SERMS will be based on an assessment of existing resources, as well as information on sector policy, legislation and regulations. It will be refined periodically based on the results of new resources assessment, studies and initiatives.

The development and implementation of the C-SERMS was agreed to at the 20th Inter-Sessional Meeting of the Heads of Government of CARICOM, held in Belize City, Belize, on 11-13 March 2009, as a key climate change mitigation strategy. [CARICOM Press Release]