Good evening everyone.
It is an honour to address you today as we celebrate the 14th Annual National Excellence in HSE Awards, hosted by the American Chamber of Commerce and I would like to thank
AMCHAM for inviting me to speak today.
The relationship between the Ministry of Trade and Industry and AMCHAM is a long and robust one and I commend the Chamber for being a fervent advocate on key issues that affect the private sector which have real and lasting effects on our lives and the way
we do business.
In today’s increasingly complex world, one of the key obligations we hold is ensuring that our growth is both robust and responsible.
The Government of Trinidad and Tobago is acutely aware of the critical role that Health, Safety, and Environmental (HSE) practices play in the overall success of our country and industries within. It is a fact that the adoption of sustained HSE practices aid in improving
productivity and employee morale whilst saving costs; making businesses more competitive, and better able to operate on a global stage.
In appreciation for the critical importance and value of good HSE practices, it is necessary to champion firms and persons that embrace these challenges and simply do the right thing. This is what this event is about.
Human Cost of ignoring HSE
Heath, Safety and the importance of the Environment have become foundational to profitability and progress, and if ignored, come with a real and significant human and economic cost. Looking at Safety for instance, according to a 2023 Report by the International Labour Organization, over 395 million workers worldwide sustained a non-fatal work injury. Additionally, and more alarmingly, around 2.93 million workers died as a result of work-related factors, an increase of more than 12 per cent compared to 2000.
Let those figures stay with you for a while – two times the population of Trinidad and Tobago, wiped out, every year, as a result of unsafe working environments. Consider the human toll, the social cost, and the economic fallout to families, communities and countries, especially those least equipped to effectively deal with it.
Economic Cost of HSE
The economic cost associated with ignoring HSE issues, is also significant. In 2022, according to the American National Safety Council, the total cost of work injuries in the US alone was approximately $167 billion. This figure includes more than simply wage and productivity losses, medical expenses, and administrative expenses. It encompasses employers’ uninsured costs, the value of time lost by workers other than those with disabling injuries who are directly or indirectly involved in injuries, and the cost of time required to investigate injuries, write up injury reports and other administrative functions, damage to motor vehicles and also fire losses.
It is clear then, that injuries, accidents and an unhealthy environment are not a negative externality of the production process; they are an integral part of the process, and if ignored can significantly affect or grind production to a halt. As employers and entrepreneurs, we must invest in safer interventions that make our employees happier, more productive and willing and able to get the job done.
Bear in mind that these issues don’t simply affect a handful of firms across the wealthiest nations. The 2024 Global Directors' and Officers' Survey Report, across more than 50 countries, indicated that health and safety was ranked as the number one risk within
firms.
Environmental considerations such as climate change, sustainability, waste reduction, and pollution are also central to maintaining brand value, reducing operational costs and boosting overall profitability. Businesses that incorporate sustainable practices within their operations can expect a significant return on their investment.
Government Intervention
The Government understands the imperatives of health, safety and environment, and we are well on our way to ensuring greater adoption and compliance. The Ministry of Labour and the Occupational Safety and Health Agency (OSHA) are directly spearheading efforts to raise awareness of these issues and help develop the necessary policies to address challenges in the workplace across all sectors. The Ministry of Health, the Ministry of
Energy and Energy Industries, supporting Agencies and private sector Chambers, are also doing their part to ensure compliance with legislation and the promotion of the health and well-being ofworkers in Trinidad and Tobago.
As it relates to the environment, the Ministry of Planning and Development is also leading the Government’s efforts to ensure our environmental commitments under the Paris Agreement are met. In fact, as we speak, we are currently participating in COP29
in Baku, Azerbaijan. This conference will once again underscore the urgent need to tackle the climate crisis which negatively affectshuman health.
The Ministry of Trade and Industry and its Agencies also have an important role to play, by developing standards in collaboration with the private sector that help advance HSE issues and promote them as critical to industry and employees. As it relates to the environment, the MTI is charting the way forward for Green Manufacturing. This is aimed at reducing the country’s carbon footprint and signals the Government’s commitment to environmental preservation and climate goals while supporting the manufacturing industry to achieve global competitiveness and responsible economic growth, engendering a culture of sustainable manufacturing. We can expect legislation to soon be brought to Parliament to operationalize the Green Manufacturing Initiativewhich targets small and medium sized enterprises as well.
Standards and HSE
To date there are over 3,000 published International Standards supporting the advancement of UN Sustainable Development Goal 3, which ensures healthy lives and promotes well-being for persons of all ages.
At the domestic level, the Trinidad and Tobago Bureau of Standard (TTBS) has a number of standards supporting the various SDG 3 targets, including 17 published National Standards concerning Occupational Health and Safety.
The TTBS is also an active participant in the International Standards Development Committee of the International Organization for Standardization which deals with Occupational Health and Safety Management Systems and is responsible for the
co-ordination of national positions and perspectives in international OHS standards. Key standards to support the human factor in occupational health and safety developed, include occupational health and safety management systems, psychological health and
safety at work, and also issues specific to women’s health.
Psychological Safety
One area that is often overlooked but is critical to maintaining a strong workforce and strong operational performance is Psychological Safety. Research published by the World Economic Forum in May 2024 has noted that the economic argument for addressing mental health in the workplace is compelling as an estimated 12 billion working days are lost annually to depression and anxiety. This is because the changing work environment,
stress and interpersonal dynamics significantly influence employee mental health and well-being, impacting performance and productivity.
All of the contemporary research on this matter underscore the need for an holistic approach that goes beyond individual stress management interventions and focuses on creating an enabling environment and supportive work culture. I am sure your
distinguished panelists will provide some thought provoking and practical insights on this important issue during the conference.
Developing a Culture of Safety and Responsibility
A commitment to health and safety is not just about compliance or meeting minimum standards; it is about cultivating a culture where every employee feels valued, protected, and empowered. When firms invest in HSE measures, they are investing in their people—
the very foundation of their success. This culture of care boosts employee morale, reduces absenteeism, and increases productivity, ultimately driving a more resilient, dedicated, and
skilled workforce. Above all, it builds trust.
Today’s awardees exemplify what it means to be leaders in this space. I commend the small and medium-sized firms that have invested deeply into their people and processes to make them better and more resilient. I’m also impressed by those large companies that have constantly improved and maintained strong and dynamic HSE policies and for setting an example for all to follow. They have demonstrated that employee well-being matters,
and should matter, in corporate strategy.
Paving the Way for a Brighter, Safer Future
This evening, we celebrate your achievements, but we also recognize the road that lies ahead. The future will continue to present new challenges, but I am confident that, together, we can rise to meet them. Our government remains committed to supporting industries in implementing and enhancing HSE standards and in transitioning to more sustainable, eco-friendly business models.
To all awardees who have transformed already existing systems; have made a difference through specific projects; built resilience in order to respond to disruptions; or those who have excelled in both HSE and business performance, I congratulate you. As we honour
your achievements this evening, let us learn from your successes and reaffirm our commitment to building a future and creating an environment that is healthier and safer for all.
Thank you and congratulations to all.