Contributed article by the Private Sector Organisation of Jamaica
The Private Sector Organisation of Jamaica (PSOJ) has been looking at issues relating to energy and the environment in light of the critical impact on competitiveness.
The PSOJ believes that energy efficiency has to be improved, because of the adverse effects on the country’s balance of payments. Oil is consuming an increasing percentage of the country’s earnings – oil and petroleum products imports account for over 30 percent of the total value of imports and over 100 percent of total export earnings.
To this end, the PSOJ has secured funding from the EU, under the Proinvest facility, to undertake a regional energy and environmental management project in collaboration with private sector partners in Trinidad and Tobago. This would involve a review of the legislative and regulatory framework, energy and environmental audits for selected firms, training workshops, energy efficiency tool-kits for businesses, a learning and investment mission to the EU, and a regional conference to be held in Trinidad.
The membership base of the PSOJ spans the agro-processing, manufacturing, energy and tourism sectors. These sectors are facing increasing challenges from environmental degradation which threaten their sustainability. Trade and investment agreements with major trading partners increasingly require improved environmental practices in response to the threats posed by global climate change. Hence, there is a clear business need for environmental management. Additionally, achieving international competitiveness for export success has been critically impacted by energy consumption and rising costs. The economic policy frameworks for both countries have highlighted energy efficiency as an area that requires attention and action.
There has been little private sector collaboration at the regional level to address these issues. The PSOJ led energy and environmental management project to be undertaken this year, starting in April 2010, will utilize a private sector collaborative approach to create opportunities for regional inter-company partnerships and joint ventures in developing solutions to the energy problems facing the region.
As was noted at an ARPEL (Associac