The presentation highlights the Caribbean Biodiversity Fund (CBF), its Ecosystem based Adaptation (EbA) Facility and the link with the Caribbean Challenge Initiative (CCI) for collaborative action to protect and sustainably manage the Caribbean’s environment.
The Caribbean contains some of the world’s richest marine and terrestrial biodiversity. The ecosystems and accompanied biodiversity are major contributors to the region’s economies, food security and water supply. Local communities are direct beneficiaries both in terms of livelihoods and quality of life. However, the Caribbean region’s natural resources and people are under growing threat from climate change and unsustainable development. Caribbean governments have been unable to eject sufficient financial resources to address the growing problem. The external donor community continues to play a critical role in the region but there has been growing interest in building more sustainable financing mechanisms for the Caribbean.
The CCI and the CBF are partnership initiatives put in motion to assist in providing solutions to these problems. The Caribbean Challenge Initiative is a collaboration bringing together governments, private sector and non-governmental organizations in a commitment to protect at least 20% of their nearshore environments by 2020. Eleven participating CCI countries and territories have committed to this target. To provide governments with reliable, long-term support needed to achieve these commitments, the Caribbean Biodiversity Fund (CBF) was established in 2012. The CBF is structured as an umbrella fund with permanent and non-permanent funding. Founding donors and supporters of the CBF endowment fund to date include the Government of Germany through the German Development Bank (KfW), The Nature Conservancy (TNC), and the Global Environment Facility (GEF). The endowment fund, which currently stands at US$43 million, works in partnership with independent National Conservation Trust Funds.
In addition to its endowment fund, and in partnership with the German government through KfW, the CBF established a US$26.5 million Ecosystem based Adaptation (EbA) Facility as a sinking fund. This facility will assist eligible countries, to help people to adapt to the adverse effects of climate change through the restoration and use of biodiversity and ecosystem services.
An intrinsic approach embedded within the CCI and the CBF is the partnership with community groups living in and around the areas where more effective management is being established. This includes building the capacity of NGOs, community-based organizations, building projects and programmes in collaboration with local groups, utilizing local knowledge, providing financial support to implement projects, and supporting sustainable livelihoods.
Ecosystem: Coastal , Big Issues: Biodiversity , Big Issues: Climate change , Solutions: Ecological restoration , Solutions: Protected areas
