Sunday, April 21, 2024

Sinckler’s plea to insurance companies


Share post:

Minister of Finance Christopher Sinckler has put forward a proposition to insurance companies to invest in the renewable energy sector on the island.
He issued the challenge on Tuesday night as he delivered remarks during the inauguration of the Cheapside, St Michael branch of the Pan American International Corporation Life Insurance company.
Noting that government was currently spending approximately $800 million on the importation of fossil fuel for electricity, Sinckler said there needed to be an “energy transition”.
He added that while real estate continued to be “the most important real asset investment” for investors, there were numerous other options, renewable energy being one of the most beneficial.
“The transition in the energy sector to increasing use of energy sources in Barbados is creating new prospects for investment in real asset,” he said, while listing some of the renewable energy options.
“The sector is largely still new territory. For you in the insurance industry, given the cost connected to Renewables, this would represent an excellent opportunity for investment. And I would want to take this opportunity to recommend it to you,” he said. (MM)


Please enter your comment!
Please enter your name here

Related articles

Businesses reporting heavy losses with reusable bags, utensils

Some plastic retailers and manufacturers are facing thousands of dollars in losses. They are reporting the issue is with...

LVS teachers ‘willing’ to return tomorrow

In spite of reservations about what is making some of them ill, teachers are still willing to return...

Fogging Schedule April 22 to 26

The Vector Control Unit will focus on the parish of Christ Church when it carries out its fogging...

Update: Flash Flood Warning in effect for central districts

The Barbados Meteorological Services (BMS) has expanded its Flash Flood Warning to include the central part of the...