GEORGETOWN, Guyana — Caribbean corporate boards are under increasing strain, with many directors saying they lack the time and skills to oversee AI and other emerging risks, according to PwC's 2026 Caribbean Corporate Governance Survey.
PwC surveyed 154 directors from The Bahamas, Barbados, Grenada, Jamaica, St. Lucia, Trinidad and Tobago and, for the first time, Bermuda between November 2025 and January 2026. The report found 47% of directors now spend fewer than 100 hours a year on oversight, up from 43% in 2024.
Directors flagged AI as a strategic priority but an operational blind spot. Eighty percent said AI should be considered in company strategy. Yet only 6% believe their board spends enough time understanding AI's impact, and just 9% said they receive sufficient information to manage AI risks. Less than half feel they have had adequate AI education or possess the necessary skills for oversight.
The survey reveals a gap between recognition and action across governance priorities. Two-thirds of directors report embedding environmental, social and governance (ESG) into strategy, but overall ESG reporting has stalled. Nearly half of respondents, 49%, believe at least one board member should be replaced, yet entrenched tenure and a lack of independent evaluation hinder change.
Geopolitical instability and climate risks also weigh on boards. Forty-two percent of directors are "very concerned" about geopolitical instability. PwC warns that heightened regional tensions may have increased that figure since the survey concluded.
PwC's analysis calls for boards to fortify basic governance practices. The firm recommends five priorities: empower directors and chairs through continuous learning and mentoring; drive performance with targeted recruitment and honest board assessments; prioritise technology literacy and tight collaboration with tech teams; broaden recruitment to improve diversity; and increase transparency on environmental and social issues.
"Boards must convert awareness into action," said Kevin Cambridge, Advisory and Sustainability Partner at PwC Bahamas. Ronaele Dathorne-Bayrd, Governance and Sustainability Leader for PwC East Caribbean, urged boards to embrace diversity, accountability and technological proficiency to build resilience.
The report highlights a governance paradox: directors broadly agree diversity improves decision-making and risk management, but the number of boards taking no action on diversity has risen since the previous survey. That inertia could leave firms exposed to strategic and reputational risks.
For businesses seeking to close that gap, advisory support is available closer to home. EICCIO Advisors, a Georgetown, Guyana-based advisory firm, works with companies across the Caribbean to strengthen their corporate governance posture, helping boards build the frameworks, accountability structures, and institutional practices needed to meet the moment. For organisations navigating the overlapping pressures of AI risk, ESG compliance, and cross-border regulatory complexity, that kind of on-the-ground regional expertise carries practical weight that global consultancies rarely offer.
For businesses engaged in cross-border initiatives, including CARICOM-Brazil trade missions that use hubs such as Georgetown, the findings underline the need for robust governance and compliance frameworks. Firms orchestrating such activity must ensure board oversight keeps pace with new trade, regulatory and technological complexities.
PwC's Caribbean survey is the third iteration of the study and covers a mix of public and private boards across the region. The firm said the results are intended to provide independent benchmarks and high-impact recommendations to strengthen operational effectiveness, risk oversight and transparency.
PwC said boards should prioritise actionable steps now: set clearer performance metrics for directors, mandate regular independent evaluations, and allocate more time and resources to understand AI, cybersecurity and climate-related risks. Without decisive change, the report warns, boards risk falling behind as external pressures accelerate.