Dennis Minott | Dodging two threats and embracing a new flame

As CARICOM marks its 50th anniversary and plans for the future, it is essential to acknowledge the remarkable resilience demonstrated by the heads of CARICOM and the entire movement in the face of significant challenges.

The organisation was born during a time of two existential threats, namely the potential loss of trade preferences due to Britain’s entry into the European Economic Community and the quadrupling of crude oil prices by OPEC in May of 1973. However, through determination and collaboration, the first four independent Caribbean states confronted these challenges head-on.

HYDROCARBON INITIATIVES

Today, as an attentive Caribbean citizen, I find it inspiring to witness the commendable hydrocarbon initiatives undertaken by petro-states Trinidad and Tobago, Suriname, and Guyana in the South of our region. Additionally, the visionary efforts of the Organization of Eastern Caribbean States (OECS), led by St Kitts and Nevis, exemplify the progress being made in the East. These endeavours deserve admiration and offer hope for the future.

LOOMING THREATS

Amid our achievements, two significant threats demand our collective attention. The first threat is the hasty and naïve endorsement of unproven Small Modular (Nuclear) Reactors (SMRs) for grid power generation in CARICOM territories.

Decision-makers must recognise that this technology is still in the development phase and lacks a researched history to guide decision-making. Therefore, careful monitoring is necessary. The use of nuclear technology carries potential internal and external impacts, particularly considering the small size of CARICOM states. Even small-scale nuclear plants could suddenly require exclusion zones of at least half the size of Barbados (0.5x166 square miles), presenting a significant challenge in many Caribbean territories. Region-wide discussions and policies are necessary due to the geographical proximity and unruly wind regimes among CARICOM countries.

THREE SMALL WORDS

As I write this, I share in our great collective sadness at the rather recent tragedy of the Titan Submersible bearing touring but credulous billionaires on a misbegotten frolic to the bottom of Titanic’s unforgiving sea. It was a dive in an unproven design, within an uncertified small craft. It was an adventure in defiance of seasoned deep ocean science. This Small Modular Reactor arrogance, in neglect of reason, is not that far removed – except for the minuscule difference between five rich one-day “mariners” indulging yet ‘another’ wow memory made for National Geographic/Discovery Channel craze – and sickened poorer uninformed citizens dwelling on our precious islands plus three other unspoiled lands.

Did the five have even a Jesus moment to cry the three words, “Lord help me!”?? But I might digress upon this painful irony.

UNREGULATED AI

The second threat is the unregulated advancement of global Artificial Intelligence (AI) and the potential risks associated with more generally advanced AGI technologies. Establishing regulatory frameworks and ethical guidelines to govern the development, deployment, and use of AI is imperative. These measures will ensure privacy protection, prevent bias, and ensure transparency. While concerns about potential job losses in the business process outsourcing (BPO) sector due to AI technology are valid, we need to lift up our eyes to take in a greater bigness.

It is essential to recognise the transformative capabilities of AI in sectors such as healthcare, education, agriculture, agro-industrial processing, and environmental management. Encouraging the embrace of AI technologies while implementing robust policies and programmes to uphold high ethical standards is crucial.

TRANSFORMATIVE POWER

Expanding the scope of AI discussions to embrace its transformative capabilities and opportunities for equitable development is necessary. By harnessing AI technologies, CARICOM member states can bridge the digital divide, empower marginalised communities, and foster inclusive and sustainable economic growth. AI can play a pivotal role in reducing educational disparities, stimulating innovation and entrepreneurship, and improving access to essential services throughout the region.

SEIZING THE OPPORTUNITY

In addition to addressing these challenges, it is crucial to recognise the extraordinary opportunity presented by Suriname’s President Chandrikapersad Santokhi, who promotes carbon credits trading to diversify away from fossil fuels. By harnessing green energy from hydropower, wind turbines, biomass, and solar energy, CARICOM’s Guyana, Trinidad and Tobago, and Suriname (GUTTSUR) can support sustainable green industries in non-fossil-fuel-producing CARICOM states.

To fully realise the potential of carbon credits trading, a legally binding arrangement within CARICOM should be established. Such a sovereign wealth mechanism and agreement would provide a structured framework for member states to trade carbon credits transparently and fairly, while also facilitating collaboration, knowledge sharing, technology transfer, and capacity building.

SAFEGUARDING THE FUTURE

In conclusion, it is imperative for CARICOM to acknowledge the gravity of the existential threats posed by SMR nuclear energy and unregulated AI. Establishing arrangements that mitigate risks and maximise benefits, while seizing the transformative opportunity presented by carbon credits trading through what I would call GUTTSUR financing, is essential. By doing so, CARICOM can safeguard the well-being of the region and pave the way for a brighter future.

Dennis A. Minott PhD is the CEO of A-QuEST-FAIR. He is a renewable energy specialist and worked in the oil and energy sector. Send feedback to columns@gleanerjm