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On Branson's private isle, small Caribbean islands commit to work with renewable energy group

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MOSKITO ISLAND, British Virgin Islands - British billionaire Richard Branson says several small Caribbean islands have committed to working with his renewable energy non-profit.

Branson made the announcement on the last day of a three-day meeting of political and business leaders on his private isle in the British Virgin Islands.

The CEO and founder of the Virgin Group of companies says "it's time for governments to cut through all the red tape" and slash their dependence on fossil fuels.

His Carbon War Room's "10 Island Challenge" encourages islands with deep renewable energy resources to get as carbon-neutral as possible.

Soaring power costs and a lack of energy security are major concerns in the Caribbean. The region derives nearly all of its electricity from plants that burn imported oil and diesel.

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