OCA Global to promote the circular and blue economy in the Caribbean region

This past June, OCA Global's consulting and technical advisory division began implementing a new technical assistance project to define and promote the principles of the circular and blue economy in 11 Caribbean countries. The project, financed by the Inter-American Development Bank, will last at least one year and will operate in the island territories of Barbados, Bahamas, Belize, Costa Rica, Dominican Republic, Haiti, Honduras, Jamaica, Nicaragua, Panama, and Trinidad and Tobago.

The circular economy emerges as a new concept that proposes to evolve from a linear model of resource management to a circular one. In the linear model, materials are extracted, processed, sold, consumed and, for the most part, discarded, with the consequent damage to the environment and economic losses that this entails. In a circular model, techniques are systematically sought that allow all this waste to be used as new raw materials for the production of products, minimizing the environmental impact of the current consumption model.

As part of this project, OCA Global will first define the key elements of the circular and blue economy and its particularities when applied to island territories, specifically in the Caribbean region. Subsequently, an analysis and proposal of ideas will be made to adapt a series of initiatives and projects underway in this region according to the principles of the circular and blue economy. The most interesting ideas will be developed in depth and their access to green financing mechanisms will be supported.