Facilitating an enabling environment for a Caribbean Green Bond Listing on the Jamaica Stock Exchange

The document outlines a 24-month project requesting USD 582,749 from the Green Climate Fund to develop a green bond market ecosystem in Jamaica. The initiative focuses on assessing the debt market, creating regional guidelines based on international standards, providing capacity building for market players, and developing a project concept for a green bond facility. It specifically aims to support the Caribbean region, including a mentorship partnership with Dominica to facilitate geothermal development financing.

• The proposal identifies five primary challenges in Jamaica's debt capital markets: limited regulatory technical capacity for reviewing new issues, restrictions on pension fund managers accessing USD bonds (limited to USA, CA, or UK), a 5% cap on pension funds in foreign currency bonds, uncertain approval processes for large issues via the Minister of Finance, and limited market liquidity.
• The project is structured around four main components: assessing the debt market and infrastructure, developing guidelines based on international standards and Green Bond Principles, providing capacity building and market education, and developing a project concept for a green bond facility.
• The Jamaica Stock Exchange (JSE) is positioned as a potential regional hub for green bonds, offering mentorship and technical assistance to other Caribbean nations, specifically the Commonwealth of Dominica.
• The project aims to support Dominica's low carbon development, particularly the utilization of its six identified geothermal zones for power production and electric transportation.
• The Wigton Windfarm is currently the only climate-aligned listing on the JSE, having raised J$5.5B and being oversubscribed by 158%, indicating strong demand for climate-sustainable products.
• The total requested amount for the 24-month project is USD 582,749, with a disbursement plan split into four tranches: USD 250,000, USD 200,000, USD 82,749, and USD 50,000.
• Jamaica's 2016 Biennial Update Report identified energy as the largest source of greenhouse gases, with agriculture as the second highest.

APA

Green Climate Fund (2019). Facilitating an enabling environment for a Caribbean Green Bond Listing on the Jamaica Stock Exchange. https://www.greenclimate.fund/sites/default/files/document/readiness-proposals-dominica-jamaica-jamaica-s-megjc-strategic-frameworks.pdf

Chicago

Green Climate Fund. Facilitating an enabling environment for a Caribbean Green Bond Listing on the Jamaica Stock Exchange. 2019. https://www.greenclimate.fund/sites/default/files/document/readiness-proposals-dominica-jamaica-jamaica-s-megjc-strategic-frameworks.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Facilitating an enabling environment for a Caribbean Green Bond Listing on the Jamaica Stock Exchange |date=4 October 2019 |url=https://www.greenclimate.fund/sites/default/files/document/readiness-proposals-dominica-jamaica-jamaica-s-megjc-strategic-frameworks.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2019facilitating, author = {{Green Climate Fund}}, title = {{Facilitating an enabling environment for a Caribbean Green Bond Listing on the Jamaica Stock Exchange}}, institution = {Green Climate Fund}, year = {2019}, month = oct, url = {https://www.greenclimate.fund/sites/default/files/document/readiness-proposals-dominica-jamaica-jamaica-s-megjc-strategic-frameworks.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }