Public Funds Not Enough for Climate Resilience, Samuda Tells Business Leaders

Kingston, Jamaica, 12 August 2026

Government money alone cannot pay for Jamaica’s shift to climate resilience, Water, Environment and Climate Change Minister Matthew Samuda has told business leaders, urging public, private, local and international partners to share the cost.

Financing from every source

Mr Samuda gave the keynote address at National Commercial Bank Jamaica’s first Corporate Breakfast Series, which brought together executives, policymakers and financial specialists to discuss investment, infrastructure and collaboration between the public and private sectors.

He described the scale of spending needed to protect critical infrastructure from climate risks and said every available source of finance must be drawn in. He also outlined work under way to strengthen national infrastructure and stressed the need for government, banks and business to work together.

Resilience as strategy

NCB’s interim chief executive officer, Sheree Martin, told the gathering that Jamaica is going through a period of significant economic and structural change that brings both challenges and openings for firms. She said access to informed views, strong partnerships and the right financing is becoming more important as companies adapt.

Hugh Graham, a director of Paramount Industries, said resilience for a business means being able to keep operating, protect jobs and continue serving customers when disruption strikes. That requires preparation inside each company, he argued, but also sound infrastructure, good policy and access to credit.

He added that closer planning between government, lenders and businesses would help the country absorb shocks and recover faster.

Beyond the hurricane plan

The discussion reflected a broader shift in how Jamaican firms think about risk. Resilience is no longer treated only as hurricane preparedness, but as the ability to adapt to uncertainty, keep operations running and protect investments while still pursuing growth.

What it means for homeowners

The same logic applies to households. Stronger water systems, roads and power infrastructure depend on large investments that the state cannot fund by itself, so private and international financing is likely to play a growing role in the projects that serve residential communities.

For homeowners, the message is also a reminder that resilience at home costs money up front. Stronger roofs, water storage and backup power are investments that can pay for themselves when the next disruption arrives.

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