ECCB 2021-2022 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2021/2022 19

Greening of the ECCB Campus

T he ECCB’s Greening the Campus Project commenced in 2016 with the objective of seeing the ECCB becoming carbon-neutral in its operations. Two avenues were devised to help the Bank achieve this goal of carbon neutrality: (i) Generating renewable energy; and (ii) Reducing the consumption of electricity. Renewable Energy Generation The ECCB’s award-winning Solar Canopy Project is a direct response to the Bank’s quest to reduce its reliance on fossil fuels. The Solar Canopy design features a series of canopies over the Bank’s parking lots at its Headquarters in St Kitts. It is the biggest solar power generator on the island and is considered as the largest solar-power system in the Eastern Caribbean operated by any entity other than a power company. The Canopy Project was commissioned in December 2019 and is now in its third phase. This third phase involves the implementation of a battery storage system to house the excess renewable energy generated from the solar canopy. The battery storage units will allow the ECCB to harness the excess energy, approximately 30.0 per cent of the total being generated, for use during the night hours. This will help to further reduce the Bank’s reliance on energy generated by fossil fuels and decrease its carbon footprint. At present, the ECCB is at about 70.0 per cent carbon neutrality. The goal is to achieve 100 per cent of this carbon neutral target by the end of the 2022 calendar year. Reducing Consumption of Electricity The reduction of electricity consumption is the Bank’s second avenue of achieving carbon neutrality. In an effort to reduce consumption, the Bank first assessed the areas of highest energy consumption and devised strategies to realise decreases in those areas. The Bank now utilises LED lighting and has upgraded its air conditioning units to a more efficient system. The Bank is also exploring plans to replace its existing fleet of fossil-fuel vehicles with electric ones.

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2021/2022 19