The Inter-American Development Bank (IDB) and the Caribbean Maritime Association (CSA) announced a 3-year collaboration agreement to help decarbonize the shipping industry and promote the economic and social development of the region.

Within the agreement, technical and operational aspects related to the reduction of the use of fossil fuels in port activities (such as operation and maintenance) will be addressed. The collaboration includes joint capacity building activities to advance trade and shipping policies and regulations on decarbonization, circular economy, labor issues, gender inclusion, SMEs, and institutional strengthening. In addition, both institutions are developing an analytical framework for the key components required to decarbonize port and shipping services.