Adnan Hassan’s Post

Nearly two decades ago, Sovereign Wealth Funds (SWFs) were new 'creatures' on the financial market horizon. One of the first books to be written on the subject was published in 2008 by Euromoney. It also became one of their "Books of the Month" later that year. I had the privilege of being the author of the book, giving the keynote address on the subject at the US Federal Reserve Bank's Annual Private Equity Summit, and advising on the restructuring of one of the world's largest funds. 16 years have passed since those days. And clearly the size of SWFs have sky-rocketed in that period. The original copy of the book sold for around $ 300. Today you can buy it for less than $20, reflecting a drop in the value of my wisdom! 🙂 However a phrase I coined, and is noted in the opening cover of the book, has lived the test of time: "The motto for the future is 'Dubai, Mumbai, Shanghai, or Good-bye.'" This catchy phrase was intended to convey the shift of power more to the East. Indeed, the Middle-East, China, and South Asia ('Mecasa') region became, and will remain, a key pivot for the global system. P.S. The next big idea is the “Small States Asset Class.” Keep an eye out for it!

This article talks about creating new societies networked across small states on the globe. Hmm.. as we design these societal experiments, let’s remember that technology without philosophy is efficiency without a purpose. https://lnkd.in/euK-UvGP

An Irish-billionaire is forced to sell his stakes in Digicel under a restructuring that avoided a default. Here is a well-written analysis. "... Digicel's debt burden is also enumerated in US dollars, and has soared to $6.7 billion, which attracts $450 million in annual interest. That money comes directly out of declining operating revenue...The sale of the company's Pacific operations to Australia's Telstra for $1.6 billion brought a temporary respite and a small write-down of overall debt, but not nearly enough, as $925 million in company bonds came due in February 2023.... A deal was struck with a consortium of business interests and creditors, Golden Tree Asset Management, PGIM Fixed Income, and Contrarian Capital Management, who agreed to a debt-for-equity swap that will reduce the company's debt by $1.7 billion and transfer 62 per cent ownership of the company to its lead creditors..."

The Caribbean has a long history with the 'West.' Some good. Some not so good. Here is what ChatGPT told me on how to encourage 'Western' collaboration for the benefit of the Caribbean. ----------------------- North America, Europe, and Latin America can collaborate more effectively in the Caribbean region by focusing on strategic areas of cooperation and leveraging their combined resources and expertise. Here are some key ways they can enhance their engagement: - Infrastructure Development: Pooling resources to invest in infrastructure projects such as transportation networks, ports, and energy facilities can stimulate economic growth and connectivity within the Caribbean. - Investment and Trade: Facilitating trade agreements and investment frameworks that encourage private sector participation from North America, Europe, and Latin America can promote economic diversification and job creation in the Caribbean. - Security and Law Enforcement: Enhancing cooperation on security issues such as drug trafficking, organized crime, and border security through joint operations, information sharing, and capacity-building programs. - Climate Resilience and Environmental Protection: Collaborating on initiatives to address climate change impacts, promote renewable energy projects, and protect marine and terrestrial biodiversity in the Caribbean. - Healthcare and Education: Supporting initiatives in healthcare infrastructure development, medical research, and educational exchange programs to improve public health outcomes and strengthen human capital in the region. - Cultural and Academic Exchange: Promoting cultural understanding and academic cooperation through exchange programs, scholarships, and partnerships between universities and research institutions. - Governance and Institutional Strengthening: Providing technical assistance and capacity-building support to strengthen democratic institutions, improve governance, and enhance transparency and accountability. - Disaster Preparedness and Humanitarian Assistance: Coordinating efforts to improve disaster preparedness, response, and recovery capabilities, and providing timely humanitarian assistance during natural disasters and emergencies. - Tourism and Sustainable Development: Collaborating on sustainable tourism initiatives that preserve cultural heritage, promote responsible tourism practices, and create economic opportunities for local communities. - Diplomatic Coordination: Working together in multilateral forums such as the United Nations and the Organization of American States to advocate for shared priorities and address regional challenges effectively. By aligning their efforts in these areas, North America, Europe, and Latin America can create synergies and maximize their impact in supporting the Caribbean region's development, stability, and prosperity. This collaborative approach can help address longstanding challenges and capitalize on emerging opportunities in the Caribbean.

Speaking to global innovators at the “2024 Hydrogen Americas Summit” in Washington, D.C., it is clear (again) that de-carbonizing the Caribbean is technically possible, economically feasible, and fundamentally transformative. Our “Caribbean Hydrogen Valley Inititiave” will convert a 44 million person region with 33 “nodes” (i.e. countries and overseas territories) into a single hydrogen market. Such a sizable de-carbonized region will create demand for surplus hydrogen off-take and potential better pricing on energy. It certainly will provide cleaner fuel. It also will offer a practical regional laboratory for global innovation. Wind, sun, thermal and wave based feed-stock can also be the source of clean energy. Our focused goal is to provide financial returns and have social impact. If done right, these objectives are not mutually exclusive. BIG ideas can come from small places. Including from Bonaire in the Caribbean Netherlands ;) ------- Read more here: https://lnkd.in/ecJtvBdt

Can the Washington, D.C. based Inter-American Development Bank (IDB) Group offer an ‘all-of-Bank-approach’ when it comes to public and private investments in the Caribbean? Can they move ‘relatively’ fast? Can they be innovative? What priority do they place on the hydrogen-economy in the Caribbean? Can they be value-adding strategic and systemic partners for ‘De-Carbonizing the Caribbean? I flew from the small Caribbean Netherlands island of Bonaire to IDB headquarters in D.C. to find out. The Caribbean region has 44 million people, across 33 major countries / islands / locations. If it were a 'country,’ the Caribbean would be the same population as Poland, Canada, Morocco, etc. or 2x the population of Romania; Netherlands; Cambodia; etc. Connecting and networking this diverse mix into a dynamic single ‘market’ is challenging but not impossible. A “One Caribbean” mindset is full of opportunity. To succeed, innovative and holistic approaches will be needed, including by leaders. These approaches must combine a complex mix of ‘public/private,’ ‘bilateral/mulitlateral’ and ‘inside-out/outside-in’ strategies. To have systemic impact, we need BIG ideas (and ‘crazy’ people, i.e. unconventional thinkers and doers). These can come from small places, including the Caribbean.

Can we "De-Carbonize the Caribbean"? Can a 'big idea' around energy transition and the climate crisis unify the region? Can the Caribbean be the “Sustainable Technologies and Education 'Campus'" for the world? Can the Caribbean be seen as a microcosm of the planet? Can big ideas come from small places? Leaders in the Caribbean are ready for change. They know that the climate crisis affects them dramatically - affecting coral populations; fish stock; ocean temperatures; hurricane strength; etc. There is political consensus around change that has lasting impact. Some innovators are already focused on various aspects of sustainability, including investing in the "Hydrogen Transition."  Besides wind, solar, wave and geothermal resources, the Caribbean has some unique history, and advantages for the world. For a moment think of the Caribbean, not as a broad region with important and diverse island-sized countries -- which it is -- but as a complex single large ‘country’ of 44 million, with 33 ‘cities.' This 'country' would be the same population as Poland, Canada, Morocco, etc. or 2x the population of Romania; Netherlands; Cambodia; etc. This Caribbean ‘country’ is a pioneer. It was the first region in the world to globalize (over 500 years ago); has faced all the grand policy issues of our time (e.g. wealth, poverty, race, migration, identity, etc.); has dynamic creativity in many fields (e.g. music, sports, arts, etc.); has all the great civilizations present for the longest time (e.g. Indigenous, European, African, Asian, etc.); and is the first real melting pot and “stoba” of cultures. The Caribbean is geopolitically and economically significant. It borders some powerful economies (e.g. the U.S., specially the large states of Texas and Florida, in particular, but also large countries, such as Mexico, Colombia, and Venezuela); has investments and historical presence from all the major OECD / European Union countries (e.g. US, UK, France, Netherlands, Spain, Canada, etc), and increasingly from China, Saudi Arabia, etc. The Caribbean is also known to the world, as the travel destination for the general public, and ‘playground’ for private sector millionaires and billionaires, and hosts many global family offices. They come there because they love the Caribbean. It’s their home too. In short, the Caribbean is the world in a microcosm. It represents the hopes and, sadly, the failures of humanity. It has a sense of urgency about the climate crisis; has investable public and private sector capital; and untapped opportunities. The Caribbean may be the most interesting and easiest region to 'de-carbonize.' In the process, it would lead the energy transition, and be the “Sustainable Technologies and Education 'Campus'" for the world. The Caribbean is large enough to be relevant, and small enough to create impact. Solutions developed in the region can be scaled elsewhere. BIG Ideas can come from small places!

For those who know, BIG Ideas can come from small places ;)

Bonaire at the UN SIDS Conference "... Youth activists have been meeting on the twin island nation of Antigua and Barbuda this weekend to ensure their voices and call for action is heard loud and clear by world leaders assembling for the (United Nations) Small Islands Developing States (SIDS4) conference there. "... UN News’s Matt Wells who’s in Antigua, spoke to organizer Ashley Lashley and one of the youngest attendees, Noah Herlaar-Hassan, about what they hope SIDS4 will achieve and why it’s vital to listen to young voices..." “… Noah Herlaar-Hassan, 17, from the tiny southern Caribbean diving oasis of Bonaire, said vulnerable low-lying SIDS “are the first to feel the effects of many things”, especially the climate crisis. “What people that don’t live on SIDS need to realise is that even if they might not feel the direct effects, they do have a large say in changing the eventual results…It’s our generation that will have to pay the biggest price and that’s why we are here today, to see how we can be stronger as a collective… I hope to hear that there has been significant progress in the cooperation between SIDS to tackle these issues that all of us face together. And I hope to hear a commitment to continue to collaborate on these issues.” https://lnkd.in/ekz_XWFg