The Government of Barbados under the guidance of H.E. Mia Amor Mottley, Prime Minister of Barbados, officially launched the Barbados Energy Transition and Investment Plan on 12 March 2025 at the SEforALL Global Forum in Barbados.
The plan signifies Barbados' ambitious commitment to achieving net zero emissions (NZE) by 2035, charting the course toward energy independence and climate resilience. It details a transformative shift from a petroleum-based economy to renewable energy sources, accelerating a Paris-aligned NZE pathway across key sectors, including power, transport, buildings, industry, and agriculture.
The Government of Barbados and SEforALL developed the plan with support from ClimateWorks Foundation.
15.6 bn
BBD fuel savings compared to the baseline
19 bn
BBD total capital investments up to 2035
1,500
total number of new jobs by 2035
Barbados Energy Transition and Investment Plan Launch. Left to right: Simon Stiell, Executive Secretary, United Nations Framework Convention on Climate Change; Damilola Ogunbiyi, UN SRSG and CEO, SEforALL; H.E. Lisa Cummins, Minister of Energy and Business, Barbados; H.E. Julius Maada Bio, President of Sierra Leone; H.E. Mia Amor Mottley. Prime Minister of Barbados; H.E. Doto Mashaka Bitek, Deputy Prime Minister and Minister for Energy, United Republic of Tanzania; Selwin Hart, Special Adviser to the United Nations Secretary-General and Assistant Secretary-General of the Climate Action Team
Key findings:
- To achieve NZE by 2035, a rapid reduction of 67% in emissions between 2025 and 2030 is imperative. Both the power and the transport sectors will play a significant role in contributing to emissions reductions. NZE will primarily rely on renewable energy, energy efficiency and the widespread adoption of electric vehicles (EVs).
- Net Zero 2035 will bring substantial fuel cost savings of BBD 15.6 billion, 37% less than the baseline, from the penetration of energy efficiency and the transition to renewable energy as a fuel source. Additionally, focusing on energy-efficiency measures could reduce energy demand by 30%.
- The plan will require a total capital investment of BBD 19 billion. However, overall, most of the capital investment required is for the transport sector, with a total of almost BBD 17.3 billion from 2020 to 2040.
- The plan will require 57% more investments cumulatively, but 15% less spending on total system costs compared to the baseline, i.e., roughly BBD 8.2 billion less additional financing needs.
- Net Zero 2035 will add about 1,500 jobs above BAU, which is a 55 percent increase in the number of direct and indirect jobs by 2035, due to higher penetration of renewables and EVs.