Bermuda's regulatory sandbox fuels green innovation: deputy premier Roban

Bermuda’s re/insurance regulatory sandbox, a proven model for getting insurance startups off the ground, is is being adapted for alternative energy and other climate business. This was revealed by Walter Roban, Bermuda's deputy premier and home affairs minister, in an interview with Bermuda:Re+ILS for an article for Voices of Bermuda 2023.

Roban also revealed that the Bermuda government is considering issuing a “blue bond” to support its blue economy initiatives, which are aimed at trying to sustainably develop the sea around Bermuda. A blue bond could raise the capital that would help to fund an alternative and diversified blue economy in Bermuda’s 200-plus-nautical mile exclusive economic zone.

Roban said: “We thought that was a good idea for energy, because even though we are embracing the obvious proven solutions that are out there for the energy transition, we as a small island need to be able to find solutions that fit our attributes and our interests.

“The regulatory sandbox invites innovative energy solutions that can be tested subject to the appropriate regulatory requirements in Bermuda, and perhaps can then be offered to other parts of the world.”

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