JSEZA Sets Sights on Multi-Trillion-Dollar ESG Market

The Jamaica Special Economic Zone Authority (JSEZA) is positioning Jamaica to tap into the multi-trillion-dollar Environmental, Social, and Governance (ESG) investment market.

ESG investing refers to putting money in companies, which, through their environmental performance, social impact, and governance issues, are focused on balancing people, the planet, and profits.

It is becoming increasingly popular as investors seek long-term value and alignment with sustainability and climate-related objectives.

According to the United States (US) Sustainable and Impact Investing Trends biennial report, the ESG market was valued at $17.1 trillion in 2020, growing exponentially throughout the pandemic to about $30 trillion.

Jamaica is signalling its readiness to enter the market through the development of the ‘Sustain-a-Livity’ concept, which was presented to global investors at the recently concluded World Expo 2020 Dubai.

During the event, JSEZA hosted a Jamaica Connects Business Forum on ‘ESG Investing in Jamaica: The Sustain-a-Livity Way’.

On the value creation side, they experience stronger growth, greater productivity, higher return on equity, and a higher credit rating. As it relates to risk mitigation, they have a lower loan and credit default rates, and reduced legal and regulatory interventions.

Sustain-a-Livity is a Jamaican concept focused on harmonious living developed through awareness and expansion of workstyle, lifestyle, and life-based and spiritual interests.

The concept is a critical part of the JSEZA sustainable economic development framework, which emphasises development for social progress, environmental stewardship, and economic growth for all Jamaicans and generations to come.

Sustain-a-Livity is incorporated into the Authority’s operations from the review of applications to the facilitation of business and is promoted throughout the local special economic zones that JSEZA regulates.

Mr. Brown shared that implementation of the concept is manifested in ways such as the adoption of International Organization Standardization (ISO) and other types of standards, and the creation of growth-fostering work environments.

He noted that the Sustain-a-Livity concept was well received by potential investors at World Expo 2020 Dubai.

During the six-month World Expo 2020 Dubai from October 2021 to March 2022, which attracted over 24 million visitors from around the world, the Jamaican delegation promoted the island as a prime destination for investment in several areas including ESG.