The private financial sector must take a more active role in building Saint Lucia’s climate resilience, said former LUCELEC Managing Director Trevor Louisy, as he recently addressed the launch of the Sustainable Finance Training Programme.
Louisy called for a shift in mindset within the country’s banking, insurance, and credit union sectors, urging institutions to view sustainability not as a charitable act but as a strategic economic necessity.
“Sustainable finance is about more than just philanthropy,” Louisy told participants. “It’s about recognizing risk, understanding long-term value, and seizing opportunities in green investments.”
The Sustainable Finance Training Programme is a national initiative aimed at equipping finance professionals with the skills and knowledge to incorporate environmental, social, and governance (ESG) considerations into their day-to-day decision-making.
Developed in partnership with the Government of Saint Lucia, the Green Climate Fund, and the Global Green Growth Institute, the programme targets banks, credit unions, and other financial entities.
The goal, organizers say, is to strengthen the sector’s capacity to assess and finance climate-resilient investments across areas such as renewable energy, sustainable agriculture, waste management, and the circular economy.
Recalling his experience leading LUCELEC through major climate and energy transitions—including the 2018 commissioning of a 3-megawatt solar PV farm in the island’s south—Louisy made the case that sustainability and profitability can and must coexist.
“We didn’t pursue solar just because it was green. We did it because it made economic sense,” he said.
Drawing on the devastation caused by Hurricane Tomas in 2010 and the Christmas Eve Trough in 2013, which together caused nearly EC$1 billion in damages, Louisy stressed that Saint Lucia’s vulnerability to climate impacts demands a new kind of financial leadership.
“I’ve seen how quickly progress can be wiped out by a single event,” he noted. “This training programme is part of that transformation… It’s about seeing the opportunities in green investments and understanding how to finance these initiatives.”
He underscored the importance of financing mechanisms that take into account climate and social risks, not just traditional measures of creditworthiness.
“A local business might close its doors not because of poor management, but because of flooding or drought. Our finance professionals must be able to assess that reality.”
The former LUCELEC MD applauded the collaborative efforts behind the initiative and called on financial institutions to embrace their role as drivers of national resilience.
“Climate finance is growing. Investors are prioritizing ESG factors. This is a space where Saint Lucia’s financial sector can lead, not follow.”
He encouraged participants to become “champions of change,” stating: “Let’s not just adapt to the future. Let’s drive it by investing in the kind of future we want.”
