The Caribbean looks set to become the first climate-smart zone in the world, with the launch of the Sir Richard Branson-backed Caribbean Climate-Smart Accelerator programme.

But, Jamaica’s Prime Minister Andrew Holness is concerned that the pace has slowed since the 2015 One Planet Summit hosted by French President Emmanuel Macron in Paris.

Holness, although welcoming Thursday’s launch of the regional project at The University of the West Indies (UWI), Mona, expressed his position that the time for talk has ended and that it is now time for action.

Main speaker at the event, Holness noted that while the 2015 Paris Agreement had called for “unprecedented public and private investments” in climate-smart actions, there were still “artificial speed limits” standing in the path of these investments.

“What does unprecedented mean? It means that we can no longer think in billions but trillions of dollars to be invested in climate-smart action,” the prime minister told the audience at the Branson Centre-resilience centre launch at the Assembly Hall of the UWI.

He said that despite the consensus of the Paris summit, structures had been created by global governments putting “artificial speed limits” in the way of the investments — in terms of scale, size and the speed at which they are needed.

“The international bureaucracy has to be more at Usain Bolt’s speed to deal with this climate change issue. Action must match the talk, and I believe the truth is that the time for talk about climate change has passed. It is now time for action,” the prime minister added.

Bolt, the multiple gold medal-winning Jamaican Olympian sprinter, was also at the function, and helped to boost local pride by announcing that he and fellow Jamaican, renown reggae/dancehall artiste Sean Paul had been named accelerator ambassadors. They will be promoting the call for climate smart actions, globally.

But, even more interestingly, Bolt announced the Caribbean Accelerator’s US$50,000 “Speed Award”, recognising countries, business and individuals who are leading the way toward a climate-smart zone.

Bolt not only saw the need for the award, but also felt that Jamaica ought to be its first winner, as an example of its commitment to the climate-smart idea.

“I am used to winning so, as a proud Jamaica, I would appreciate it if we could be the first Caribbean country to get to that level — and I will do anything to help,” the sprint champion said.

Head of the Virgin Group, Sir Richard Branson is so fond of the region that he has not only made the British Virgin Islands his home for about a decade now, but came up with the idea of fronting the accelerator programme to create a Caribbean frontier against the threat of climate change/global warming, and the world’s first climate-smart zone.

He is convinced that the zone will not only protect the region, but will also create jobs and a new economy in a climate-smart infrastructure.

But, such an ambitious programme needs huge financial support, and while Sir Richard is willing to make the initial effort, it is obvious that much wider and participatory structures — with deep pockets and sustainable confidence in a positive outcome for the project — is absolutely necessary.

So far the proposal has attracted the attention of the Inter-American Development Bank (IDB) and the World Bank, both of which have committed to provide some level of financial support.

The IDB has committed US$1 billion ($136 billion) to climate-smart investments, and has also announced that it will partner with the accelerator programme and implement the additional US$1 billion in funds that it pledged for climate-smart investments across the region at the Paris summit.

This additional funding will build on an existing portfolio of over $200 million to support innovative solutions focusing on low carbon emissions, sustainable infrastructure, and energy efficiency projects in the wake of natural disasters — drawing from low-cost blended finance and contingent credit facilities.

The IDB has also announced that it will provide $3 million as start-up funds to the accelerator programme to help get the initiative off the ground with the first $1.5 million available this year

The World Bank has also announced a three-year commitment of US$1 million annually through in-kind services for the accelerator, and is supporting Caribbean countries with an almost US$2-billion portfolio focused on strengthening resilience and financial protection against disasters — including US$1 billion in concessional financing from the International Development Association.

Popular online marketplace and hospitality service company, Airbnb is also assisting by creating a community of hosts ready to respond by allowing hosts to open their homes to disaster survivors and relief workers free of charge.

According to an IDB report, to date over 11,000 people in need have been housed through the Airbnb Open Homes programme, which is now expanding across the Caribbean.

Zero Mass Water, a member of the Breakthrough Energy Coalition, is helping to solve drinking water problems for the paediatric wards of two major hospitals in Jamaica, through the installation of 20 of their Source Hydropanels tol make clean drinking water out of air.

The TIDES Foundation has announced a grant of US$200,000 to the accelerator.

Caribbean institutions and agencies – including governments, the Caribbean Community (Caricom) and OECS (Organisation of Eastern Caribbean States) — have already started to use the accelerator platform as well.

According to the IDB, the coalition behind the accelerator has already grown to 26 countries covering a region of one million square miles and over 40 million people.

Sir Richard said that the programme is based on a vision of a Caribbean that is “greener, stronger and more resilient than before”.

He told the launch that he was happy to see the region “finally moving in the right direction. This gathering is a result of true Caribbean leadership,”, he said.

Branson also pointed out that the idea for the project followed the devastation created by powerful hurricanes Irma and Maria in Puerto Rico, the Virgin Islands, and other Caribbean nations such as Dominica and Antigua & Barbuda last September.

Not only did the extraordinary winds destroy much of the infrastructure, but the region’s main industry — tourism — suffered even in areas where beaches and resorts were unaffected by gusts and showers.

Travel partners around the world complained then that they had heard that “the Caribbean is closed”, according to Caribbean Tourism Organization (CTO). This turned off hundreds of thousands of visitors to the region.

Media coverage of the storms that toppled trees, tore away roofs, and struck beaches with storm surges contributed to a perception that the entire region had suffered equally, prompting visitors to seek other vacation destinations.

Sir Richard confirmed that the idea for the accelerator followed the devastation created by the two hurricanes which, he noted, produced winds which were more serious than anything seen in the past.

President of the Inter-American Development Bank (IDB), Luis Alberto Moreno said that the idea is to use the IDB’s extensive regional experience and presence on the ground “to work closely with the people of the region to design their Caribbean of the future, today”.

Moreno said that the IDB is reaffirming its “continued and historical commitment to the Caribbean”.

He said that the IDB is willing to work with the leaders in the region to improve lives by creating climate-smart and vibrant economies “where people are safe, productive and happy”.

Despite his disappointment that the investments are not flowing as freely as he thinks necessary, Holness told the function that he was excited by the potential of the accelerator programme to team the Caribbean with global leaders to generate investments and overcome the barriers.

Other speakers included the UWI’s Vice Chancellor Sir Hilary Beckles, and Jamaican Cabinet ministers Edmund Bartlett (tourism), senator Kamina Johnson Smith (foreign affairs and foreign trade) and Dr Nigel Clarke (finance and the public service).

The United Nations announced last week that the momentum for climate ambition is reaching new heights as business leaders, non-profits, citizens, and local government representatives prepare to gather for the Global Climate Action Summit scheduled for San Francisco, California, next September 12-14.

Actors around the world were invited to participate by demonstrating the depth and range of climate action in their sectors and geographies to achieve the goals of the Paris climate change agreement.

The summit will focus on five key areas: healthy energy systems, inclusive economic growth, sustainable communities, land and ocean stewardship, and transformative climate investments. All of these five pathways have critical challenges to overcome in order to limit the global average temperature rise to well below 2°C from pre-industrial levels.