The Caribbean is advancing efforts to turn waste pollution into new opportunities for financing circular economy solutions.

To this end, a three-day meeting focused on financing circular economy solutions for waste management concluded in Barbados.

This event, held from September 3-6, was part of the EU-funded initiative Zero Waste in the Caribbean: New Ways, New Waves, co-financed by the German Cooperation in partnership with CARIFORUM.

The meeting brought together around 60 waste management experts from across the Caribbean to discuss financial tools, regional challenges, and funding options from development partners and the private sector.

The goal was to convert waste pollution into opportunities for a circular economy.

Organized by the UN Environment Programme (UNEP) with support from the European Union (EU), the German Agency for International Cooperation, the Organization of Eastern Caribbean States, the Ministry of Environment & National Beautification of Barbados, the Inter-American Development Bank, and the Caribbean Development Bank, the initiative marked a significant step in addressing waste management issues and promoting circular economy principles in the region.

The event aimed to strengthen partnerships among public and private sectors and regional and international financiers.

Experts shared global perspectives on circular economy financial instruments and their relevance to the Caribbean, evaluating existing financial mechanisms and proposing improvements.

Key discussions included tipping fees, deposit return systems, and extended producer responsibility policies.

Technical sessions addressed the Caribbean’s waste management challenges and financing mechanisms, with CARIFORUM countries outlining their specific needs.

Luca Trinchieri from the EU delegation to Barbados highlighted the EU’s ongoing support for the region.

The meeting featured over 30 bilateral meetings that established new partnerships focused on innovative financial solutions for waste management and infrastructure.

Additionally, site visits to recycling and landfill facilities in Barbados showcased best practices applicable to other Caribbean nations.

The diverse composition of participants underscored the crucial role of financing partners in advancing sustainable development and environmental resilience in the Caribbean.

International partners reiterated their commitment, with the EU emphasizing the importance of partnerships in achieving sustainable development goals and the UNEP’s Vincent Sweeney highlighting the need for creating favorable investment conditions through regulatory frameworks and public-private collaboration.