Former Chevron Corporation executive Silvia Garrigo shared insights on the future of environmental sustainability, renewable energy and what the death of Fidel Castro will mean for business in Cuba with students in the College of Business’ international business and strategy program.
“I don’t think Cuba is an attractive market for multinational businesses in the fossil fuel industry now, said Garrigo, former manager of global policy and corporate responsibility at Chevron. “Exploring and producing oil in the Caribbean is not very attractive for a large multinational because the reserves are not big enough to justify a long-term, multi-billion dollar investment.”
Additionally, Garrigo noted, that Cuba’s delicate and pristine ecosystem has largely avoided the exploitation and impacts of significant commercial development.
“Operating in Cuba requires not only meeting Cuba’s regulations and laws around the conservation and protection of the environment, companies must go beyond compliance to protect the ecosystems,” said Garrigo, now senior counsel at the Morrison & Foerster law firm. “Cuba presents a unique opportunity to do it right and avoid the practices that have impacted the environment and our global climate.”