Jamaica secures US$2.1m Green Climate Fund grant as AI study flags job risk

Jamaica has secured a US$2.1 million grant from the Green Climate Fund through the Caribbean Community Climate Change Centre to strengthen the country's ability to respond to climate change. The funding is intended to improve access to international climate financing and help build a pipeline of projects to protect the economy, environment, and livelihoods.

The grant arrives as Jamaica continues recovering from Hurricane Melissa, which left damage estimated at nearly 57 per cent of gross domestic product, highlighting the urgent need for large-scale climate funding. Minister of Climate Change Matthew Samuda said the support is critical to building resilience in the aftermath of the storm. Jamaica is the first CARICOM member state to receive approval under the Green Climate Fund's readiness strategy, which was launched in 2024.

Research by economist Dr Kpal Golding suggests the introduction of artificial intelligence could put about 60,000 jobs in Jamaica at risk. The study, which applies International Labour Organization methodology, indicates that data entry clerks, call centre agents, secretaries, and bank tellers are among the most vulnerable positions. Dr Golding says between 112,000 men and 144,000 women in Jamaica are employed in areas that could be affected by artificial intelligence, with women likely to be disproportionately impacted. He estimates that about 22 per cent of Jamaica's workforce is exposed to AI-related changes and that some jobs could eventually be eliminated as the technology becomes more widely adopted.

First Union Financial Company Limited has launched a J$1 billion revolving microloan fund to support employee side hustles and entrepreneurship. Group General Manager Jona Lisa Brooks said the programme responds directly to the growing number of Jamaicans seeking additional income streams and business opportunities. "We have witnessed a significant increase in employees operating side hustle businesses while maintaining full-time employment. Many Jamaicans are looking for practical ways to supplement their income, support their families, and build a stronger financial future. We recognize that there is a need for dedicated financing program specifically designed to support those ambitions," Brooks said.

For the trading session of June 22, 2026, the most actively traded securities on the Jamaica Stock Exchange were 10 Tire Holdings Jamaica Limited, with 5,845,841 units representing 30.58 per cent of market sales activity; TransJamaican Highway Limited, with 2,318,360 units, or 12.13 per cent; and Woodcats International Limited, with 1,628,963 units, or 8.52 per cent. Investor activity remained concentrated in transportation and distribution stocks, signalling continued interest in dividend-producing and strategic assets.

In the foreign exchange market, Bank of Jamaica data for June 22, 2026, showed strong demand across major currencies. The US dollar sold at J$158.32 and was bought at J$156.74. The Canadian dollar sold at J$111.96 and was bought at J$111.36. The British pound sold at J$209.21 and was bought at J$206.48.