In the aftermath of the Covid-19 pandemic and on the back of high global energy prices, Trinidad & Tobago is set to grow over 50% faster than the global average for 2022. A balanced approach between maintaining energy security and driving the sustainable energy transition forwards offers a wealth of opportunities for the twin-island nation, which has explored solar and wind energy sources but has yet to implement a comprehensive renewable energy roadmap. Globally, financial institutions and capital markets have already incorporated climate-change-related risks into their lending practices. These can be leveraged in Trinidad & Tobago to accelerate the energy mix's move away from hydrocarbons, while still ensuring the buoyancy of the country’s existing mature energy sector. A top-down policy focused on sustainable energy is set to have substantial benefits for other sectors, as the economy looks to diversify away from oil and gas into fast-growing, more marginal industries.
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