Ms. Colette Delaney CEO CIBC FirstCaribbean underscores
WILLEMSTAD - A regional banking executive has underscored the need for banks and utilties to work together to create Sustainable Energy Solutions.
Ms. Collete Delaney, Chief Executive Officer of CIBC FirstCaribbean, made the point diuring her keynote address at the Caribbean Electric Utility Services Corporation (CARILEC) Engeneering and Precurement Conference and Exibition hosted by Aqualectra at the Santa Barbara Golf and Beach Resort, Curaçao recently.
She told the conference which brought together more than 200 utilities representatives from utility companies all over the Caribbean and experts in solutions from around the world for presentations and exhibitions, that such a partnership was essential.
“Like you, we may choose to compete with our disruptors and find that they are not governed by the same regulations - or indeed even the same governance structure as we are. This tends to reduce their barriers to entry , while providing us with the challenge of how to compete in an agile and innovative fashion when the governance surrounding our business produces what is a not necessarily level playing field. Or – as you do in many cases, we may choose to partner with our disruptors – bringing together the two worlds, as this might be the most viable path to an innovative yet resilient and sustainable solution,” Ms. Delaney said.
She stated that the banking industry in the Caribbean understood the need to adapt and retool to fit the needs of an ever-changing market. This she added, was because the bank understood the critical nature of the challenges facing the utilities.
Ms. Delaney said it makes the banking industry uniquely placed to play an active part in the development of the utility industry, for the ultimate benefit of banks and businesses in the Caribbean in general. So the commercial banks and the energy sector in our region need to and can work together to create Sustainable Energy Solutions, Innovation and Resilience - in the Age of Disruption.
“We know that for either of our industries, standing still is not an option, as the alternative is obsolescence. Our clients and partners will continue to demand more from us. By remaining attuned to your industry trends and being strategic in your approach to embracing external contributory factors while maintaining an appetite for knowledge and engagement in gatherings such as this, you will certainly maintain your resiliency for the future” Ms. Delaney added.