A Concept Note On Trade In Environmental Services: Towards The Formulation Of A Strategic Framework And Action Plan For The Caribbean Community Single Market And Economy

This paper provides a sound basis for the consideration of trade in environmental services in the CARICOM Single Market and Economy (CSME) Zone. In the absence of specific information and data on the environmental service sector in the CSME, this work is considered as work in progress. Since the activities which are undertaken in the Region to produce environmentally sound technologies and goods as well as services to measure, prevent, limit, minimize or correct environmental damage to water, air, soil and ecosystems, have not been regarded as an industry in its own right; a major function of this paper is to create awareness of the existence of an environmental industry in the Caribbean Community. It also serves to highlight, that like any other industry of the regional economy, investment must be made to sustain sustainability. This is also the case of the environmental industry. Furthermore, given the multi-dimensional and multi-sectoral characteristics of the environment, investment in the environment, which is required, is consequently an investment in the social and economic development of the CSME.

It is on this philosophical basis that the work of CaribInvest (West Indies) Limited is grounded. Central to its philosophy, is the promotion of the Caribbean as a single market place and in so doing facilitate the utilisation of the region’s assets efficiently, effectively and where applicable in an environmentally sensitive and sound manner. CaribInvest (West Indies) Limited employs an integrated approach in the consideration of the Community’s assets by linking various elements such as investment, finance and international trade with proper environmental stewardship. It is within this context, that the Caribbean Court of Justice (CCJ) has a very critical role to play in ensuring that the environmental and natural resources provisions of the Revised Treaty of Chaguaramas Establishing the Caribbean Community Including the CARICOM Single Market and Economy are given the full effect of Caribbean Community Law.