MINISTER of Water, Environment and Climate Change Matthew Samuda is arguing that Jamaica cannot rely on public funds alone to build the infrastructure and systems needed to withstand the growing effects of climate change.

Samuda said greater participation will be required from private investors, financial institutions, and international partners as the country seeks to strengthen critical infrastructure and improve its ability to recover from climate-related disruptions.

“Public funds are simply not enough to address the challenges posed by climate change. We need financing from all available sources — including public, private, domestic and international partners — if we are to successfully transition to climate resilience,” Samuda said.

He was speaking at the inaugural NCB Corporate Breakfast Series, hosted by National Commercial Bank Jamaica Limited (NCBJ), which brought together policymakers, business leaders and financial sector representatives to discuss climate resilience, infrastructure, and investment.

From left: Errol McGaw, treasurer, FESCO; Jeremy Barnes, managing director, FESCO; and Belinda Williams, head of corporate affairs, National Commercial Bank Jamaica Limited (NCBJ), continue the conversation at the inaugural NCB Corporate Insights Breakfast event, which creates space for business leaders to move beyond key climate change conversations to consider the practical partnerships, investments, and actions needed to build greater resilience across Jamaica..

Samuda said strengthening Jamaica’s resilience will require cooperation across the public and private sectors as the country responds to the increasing threat posed by extreme weather and other climate-related events.

The issue has taken on greater significance as disruptions to electricity, water, telecommunications, transportation and other critical services can have wide-ranging effects on households, communities and businesses.

NCBJ Interim Chief Executive Officer Sheree Martin said the changing environment also requires organisations to rethink how they prepare for and respond to disruptions.

“Strategy sharpens in conversation, not in isolation, and capital works best when it is guided by an honest read on where a business is heading,” Martin said.

Hugh Graham, director, Paramount Jamaica Limited, emphatically makes his point during the Q&A session at the inaugural NCB Corporate Breakfast Series where business leaders, policymakers, and financial experts explored how stronger public-private collaboration can help build Jamaica’s climate readiness and long-term economic resilience..

She said access to financing, strong partnerships, and informed decision-making will become increasingly important as organisations adjust to economic and structural changes.

“As businesses adapt to changing realities, access to informed perspectives, strong partnerships, and the right financial solutions become increasingly important,” Martin said.

Hugh Graham, director of Paramount Industries, said businesses also have a responsibility to prepare for disruptions and protect their operations and employees.

“For businesses, resilience is about being able to keep operating, protect jobs, and continue serving customers when disruption occurs,” Graham said.

From left: Sheree Martin, interim chief executive officer, National Commercial Bank Jamaica Limited (NCBJ), shares a warm exchange with Errol McGaw, treasurer, FESCO, following the inaugural NCB Corporate Insights Breakfast. The series brings together business leaders and key stakeholders for dialogue on issues shaping Jamaica’s business environment..

“That requires investment and preparation at the company level, but it also requires strong infrastructure, sound policy,and access to financing.”

Graham said closer coordination among Government, financial institutions, and businesses could improve Jamaica’s ability to withstand shocks and recover more quickly.

“The more Government, financial institutions, and businesses can plan together, the better positioned we will be to withstand shocks and recover more quickly,” he said.

NCB said the breakfast series is intended to bring together policymakers, business leaders, and other stakeholders to discuss issues affecting Jamaica’s economic development and long-term sustainability.