The Eastern Caribbean Central Bank (ECCB) has received the Central Banking 2022 Green Initiative Award for its Solar Canopy Project.
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“I was thrilled that we were recognised for another innovation,” says Governor of the ECCB, Timothy N.J. Antoine. He further stated that the main objectives of the project were to:
(1) lower carbon emissions; (2) create a demonstration project that other ECCB member countries can emulate towards a faster transition to renewable energy; (3) advocate for the region, particularly in the case of large emitters, encouraging them to do more to reduce carbon emissions; and (4) to reduce ECCB’s operating expenses related to power consumption. According to Governor Antoine, the Bank has achieved all four objectives.
The ECCB’s Greening of the Campus project is part of the Bank’s thrust to become entirely carbon-neutral in its own operations. The Bank is currently at about 70.0 per cent carbon neutrality and plans to hit the 100 per cent target by the end of 2022 once the battery storage component of the project is completed.
“We are a small Central Bank but a leading Central Bank and we recognise when it comes to climate we have to lead,” says Governor Antoine.
The project’s design involved solar panels installed in a series of canopies over the Bank’s parking lot at its Headquarters in Basseterre, Saint Christopher (St Kitts) and Nevis and is the biggest solar-power generator on the island. It is also considered the largest solar-power system in the Eastern Caribbean operated by any entity other than a power company.