Group Chief Executive Officer of the Jamaica Stock Exchange, Livingstone Morrison, has called for faster progress on Jamaica’s renewable energy transition.

Mr. Morrison made the appeal in light of the United States-Israeli war on Iran, which has led to restricted access through the Strait of Hormuz, a critical oil choke point.

He pointed out that every megawatt of renewable capacity brought online is a megawatt that does not depend on a fuel shipment through the Hormuz.

Mr. Morrison added that resilience and decarbonisation are not competing priorities.

Mr. Morrison was speaking at the Office of Utilities Regulation’s 12th Annual Director-General’s Stakeholders’ Engagement at the Jamaica Pegasus Hotel in Kingston on Thursday.

The event was held under the theme, “Utility Resilience, Innovation and Readiness for Extreme Events.”