Caribbean Utilities Company pledges major emissions reduction by 2030

In Grand Cayman, Cayman Islands, the Caribbean Utilities Company, Ltd. (CUC) has released its 2024 Sustainability Report, detailing its sustainability performance from January 1 to December 31, 2023. This comprehensive report highlights CUC's dedication to environmental stewardship, social responsibility, and economic sustainability. Key achievements include the advancement of grid resiliency through the undergrounding of main transmission lines, and the completion of the country's first utility-scale battery energy storage system. Notably, CUC was honored with the Green Diamond Award for recycling excellence. Moreover, the report emphasizes CUC's commitment to social inclusivity, revealing that 64% of its Board of Directors are female and showcasing over 1,000 volunteer hours dedicated to community projects. The financial performance is also noteworthy, with an Earnings per Share (EPS) of US$1.00, reflecting the company's robust economic health even amidst pursuing sustainable practices. The company's sustainability objectives include significant targets to reduce greenhouse gas (GHG) emissions by 60% by the year 2030 and to achieve a reliance on 70% renewable energy sources by 2037. These targets are aligned with the CUC's Sustainable Energy Plan and Grid Resiliency and Modernization Plan, which aim to lower carbon emissions and integrate more renewable energy into the grid. CUC's management underscores their proactive approach in addressing climate change and reducing costs for their customers while promoting energy efficiency. CUC's forward-looking statements indicate an optimistic outlook towards successfully achieving these goals, although the actual results are subject to inherent risks and uncertainties that may affect performance outcomes. CUC encourages stakeholders to monitor their progress through their official website, underscoring a commitment to transparency and accountability in their sustenance initiatives.