I'm wondering if this is a joke or are you really planning on making a
Micronation. The implications of a smiley faced island sounds tempting though. The country would profit from extensive tourism and uh general weirdness. Also, air conditioners to combat Global Warming would just make it worse. Air Conditioners contain refrigerants called CFC (well, some of them anyway).
CFC is not really that reactive therefore, it has a lifespan of over 100 years. When it is released into the atmosphere, ultraviolet radiation breaks of a chlorine element which incidentally is very reactive. Then, the chlorine atom will collide with an Ozone molecule and steal an oxygen atom to form Chlorine Monoxide and leaving the Ozone molecule as a regular molecule.
Afterwards, when another oxygen atom collides with the Chlorine Monoxide molecule it will steal the oxygen atom and release the chlorine atom back into the atmosphere this cycle repeats itself.
If you use a non-CFC refrigerant it would be ok but then the power usage would be enormous. It is
almost impossible to gather sufficient electrical energy from windmills and hydroelectric generators on such a small island. If you resort to fossil fuels then it just brings back the original global warming problem.
Now my comments on other stuff.
The currency will be measured in notes called kitts. All kitts will have pictures of cats doing funny stuff printed on them. This will make people want to work harder to earn money and see more funny cats, and so the economy will do good.
Cool, lolcat money. But then, are you sure you have enough ink to print colored pictures on money?
I opt for fusion powered oxygen gas propelled jetpacks. :D