From accounting firms to attorneys to the restaurant down the road, Camana Bay tenants are establishing themselves as both global and local leaders in sustainability.
Ogier, for instance, is the first offshore law firm to establish a dedicated Sustainable Investing and Impact Funds practice, according to its website. It assists clients to invest in anything from carbon credit funds to sustainable water funds and social impact lending funds. The idea is to support companies with environmentally friendly and socially responsible operations, and business partners and assets in sustainable investing are expected to reach $50 trillion by 2025, according to Bloomberg.
"At Ogier, we have developed our legal services to ensure that we are able to provide tailored legal advice within the context of sustainable investing," said Ogier partner Joanne Huckle, an investment funds and regulatory expert.
Meanwhile, the Cayman Islands Institute of Professional Accountants recently co-hosted a webinar for Climate Week NYC, one of the largest climate action events on earth. Titled "Warrior Accountants, Trailblazer Lawyers and Using the Financial Markets as a Force For Good," the webinar examined how Cayman-based professionals can lead the way on collecting data, establishing regulatory standards and work with clients to invest sustainably.
"For too long we have not recognised Mother Earth for the contributions she has made to the companies we have invested in," said CIIPA Chief Executive Officer Sheree Ebanks in her keynote address, adding that accountants play a role by helping create sustainable reporting standards and making sure companies stick to them.
Camana Bay's culinary tenants are playing their part as well.
Agua Restaurant recently partnered with ecoSPIRITS, a company aiming to reduce packaging and transport costs by shipping spirits to bars and restaurants in a reusable vessel that those bars and restaurants then pour into their own bottles and send the containers back. The Kimpton Seafire Resort + Spa also has partnered with ecoSPIRITS while the Cayman Islands Brewery has had a well-established bottle recycling programme for several years.
“The launch of this new technology on the island that allows for us to distribute liquor in a sustainable and eco-friendly way, it reduces carbon emissions and waste,” according to Wayne Epple, Group General Manager of Agua Hospitality Group.
Meanwhile TomFoodery Kitchen offers biodegradable disposables like corn starch and sugarcane-based straws, cups, takeaway containers and bags. In addition, TomFoodery not only often features lionfish on their menus, but Co-owner and Chef Thomas Tennant is also one of the founding members of Cayman United Lionfish League. The organisation holds four events a year where divers, snorkelers and fishermen, along with the Department of Environment, not only raise awareness on removing this invasive species from our reefs but also end up serving the delicious delicacy in various forms to show that they can also feed the community in large quantities.
Even the structures themselves at Camana Bay are playing a role.
Most of Camana Bay's buildings are cooled by a chiller plant that contains four water-cooled chillers. Chillers use water or a water solution instead of air to transfer heat away from a space, improving energy efficiency.
Meanwhile, over the past 10 years, all new structures in Camana Bay have been built to LEED sustainability standards. In addition, 18 Forum Lane was also the first LEED Gold Certified mixed-use building in the Caribbean.
While Camana Bay tenants are doing their part to actively support sustainability, they are also paving the way for others to do the same.
This article was featured in the November 2022 print edition of Camana Bay Times.
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