- The Caribbean business behind the world’s first carbon-negative concrete has joined forces with an alliance aimed at scaling climate innovation throughout the region
- The agreement paves the way for the Caribbean to become a global leader in climate-smart infrastructure
- The announcement comes shortly after Partanna announced its deal with the Government of The Bahamas to develop the world’s first carbon negative homes
25, January 2023, Nassau – Partanna Bahamas, pioneer of the world’s first carbon-negative concrete, has signed an MoU with the Caribbean Climate-Smart Accelerator (CCSA), an entity driving the Caribbean economy’s transition into a climate-smart zone.
As part of the agreement, both parties will highlight the growing economic and social costs of climate change to the region, and call on governments and the private sector to invest in climate-resilient infrastructure.
Partanna’s carbon-negative concrete has the potential to revolutionise the global construction industry – which contributes around 40% of the world’s annual CO₂ emissions. The CCSA will help Partanna to realise its mission and potential by identifying public and private sector collaborators throughout the region.
The MoU is part of a drive by CCSA to champion Caribbean businesses who have the potential to create global impact through their climate innovations. The CCSA does this by matching entrepreneurs and businesses to its network of regional donors, investors, and philanthropists.
The agreement comes shortly after Partanna announced the development of up to 1000 affordable homes with the Government of the Bahamas, a move set to meet shortages and revolutionise affordable housing in a nation at the frontline of the climate crisis.
Paramount to the MoU is a commitment from both parties to make use of the region’s young talent. It is hoped that increased use of Partanna within the Caribbean can spark a green jobs boom, in a region where 1 in 4 young people are unemployed.
Partanna’s housing development project will provide at least 1000 direct and indirect jobs for Bahamians over its duration. Partanna will also provide training in the new skill sets required to establish the Caribbean as a global centre of a new sustainable building materials industry.
Rick Fox, former Los Angeles Lakers and founder of Partanna Global, commented: “For the Caribbean, adaption to climate change is a matter of survival. With more and more extreme weather events impacting our region – it’s vital we invest today in resilient homes and infrastructure that can cope with climate change. Our building materials offer greater protection, and also suck CO2 from the atmosphere – making them part of the short-term and long-term solution to climate change.
“We know there is simply no time left, and the CCSA shares our urgency. We’re delighted to work with the accelerator and its incredible network of regional leaders, to secure green growth that delivers for Bahamians and the region.”
Racquel, Moses UNFCCC Global Ambassador & CEO of the Caribbean Climate-Smart Accelerator said: “Times are few that we have such a unique opportunity to build global leadership within our region. We see the Partanna solution as one that can finally usher in a new age of Global South leadership in setting the standards and by extension bringing within the region the certification process for climate action projects. We need to be smart, avoid the climate catastrophe by unlocking positive economic transformation.
“Local solutions will be critical to our transition to low carbon economies. By engaging local innovators, like Partanna, we want to lead on the world’s stage, not follow, and with construction being one of the most difficult to decarbonise industries, Partanna offers an exciting opportunity to do so.”
Notes to editors
Additional Partanna product information:
- Partanna is made from recycled steel slag and brine. The binding components absorb CO2 as they cure in production and continue to do so throughout their lifecycle.
- A standard 1,250 sq ft cement home emits 70.2 tons of CO2. While a 1,250 sq ft Partanna home removes 22.5 tons of CO2.
About Caribbean Climate-Smart Accelerator Inc.:
The Caribbean Climate-Smart Accelerator Inc. was launched in August 2018 to strengthen the region’s readiness and response to disasters. Their objective is to transform the Caribbean economy through fast-tracking sound public and private investment opportunities, supporting climate action and economic growth.
The Caribbean Climate-Smart Accelerator Inc. is helping to build more resilient countries, cities and industries through
- Building economies of scale and facilitating collaboration across countries,
- Bringing blended financial instruments and philanthropic funding to projects
- Forging partnerships across the public and private sectors, with the goal of creating the world’s first climate-smart zone.
- Applying innovation to the most persistent challenges
The Accelerator’s projects and opportunities build a more sustainable and resilient future for the region through collaboration between governments, regional and international institutions as well as public and private sector organisations.