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Green Funds and Capacity Development for Environmental Management

Environmental Solutions Limited, a Caribbean consulting outfit focused on environmental management, published a strong review of Green Funds in the Caribbean and the opportunities for capacity development. An excerpt is below, read the full article at ESLCaribbean.

Green Fund

Concern about climate change and its many, far-reaching effects has propelled countries around the world to come up with novel ways to achieve socio-economic development without causing additional damage to the environment. One of the more recent solutions has been the establishment of various ‘green funds’ by countries and international aid and development agencies alike. According to Investopedia.com, a green fund is basically “a mutual fund or other investment vehicle that will only invest in companies that are deemed socially conscious in their business dealings or directly promote environmental responsibility. A green fund can come in the form of a focused investment vehicle for companies engaged in environmentally supportive businesses, such as alternative energy, green transport, water and waste management, and sustainable living.”

Here in the Caribbean, Trinidad and Tobago leads the way with a well-established, well-financed Green Fund. The fund was first instituted under the Finance Act 2000 and is financed by a tax of 0.1 per cent of the gross sales or receipts of companies doing business in Trinidad and Tobago. The levy is payable quarterly. The purpose of the fund is “to provide financial assistance to community groups and organisations for activities related to reforestation, remediation, environmental education and public awareness of environmental issues and conservation of the environment.” Since its inception, the fund has successfully financed a number of certified activities totalling approximately TT$117 million. The value of the fund as at January 2012 was TT$2.7 billion.

The key stakeholders in the fund are members of the private sector, which pay the Green Fund Levy; the Ministry of Finance, the official custodian of the fund’s resources; the Ministry of Housing and the Environment, which provides certification Green Fund-supported activities; and civil society organisations that use the resources. The fund can be accessed by corporate companies, non-profits, NGOs and community groups by making the necessary application.

Read the full article here.

5Cs supports the Caribbean’s first ‘National Consultation on a Framework for Climate Services’

Climate Services

Filipe Lucio (left), Head of the GFCS, WMO, and Dr Ulric Trotz (right), Deputy Director, CCCCC

The Caribbean Community Climate Change Centre (CCCCC) supported the region’s first National Consultation on a Framework for Climate Services in Belize last week (October 30- November 1, 2013). The consultation, organized in association with the World Meteorological Organization (WMO), the National Meteorological Service of Belize, and the Caribbean Institute for Meteorology and Hydrology (CIMH), sought to advance the priorities under the Global Framework for Climate Services (GFCS) by  focusing on:

  • Assessing climate services needs in the agriculture and food security sector based on
    generated climate information in the country;
  • Recommending effective mechanisms and practices to improve interfacing and interactionsbetween climate service providers and users;
  • Articulating the capacity building needs in terms of mandates, infrastructure and human
    resources for all the components of GFCS;
  • Recommending actions to improve productions, sustainable operations and accessibility for
    climate predictions and services to aid the flow of climate information from global and 
    regional scale to national and local scales;
  • Charting a roadmap for the effective development and application of climate services in support of agriculture and food security and other climate sensitive sectors in Belize,particularly water, which is of strategic import to the Agricultural Sector of theCaribbean Region.

The consultation brought together key decision-makers and users from the initial four priority areas under the GFCS: agriculture and food security, water, health and disaster risk reduction. It identified suitable mechanisms for improving and sustaining the flow of climate information to users with particular focus on agriculture and food security. The exercise also sought to enhance understanding of the need for climate services on sectors most impacted by climate change that can be implemented at the national level across the Caribbean.

The Global Framework for Climate Services (GFCS) was established in 2009 at the World Climate Conference-3, which was organized by the World Meteorological Organization (WMO) in collaboration with other United Nations (UN) agencies, governments and partners to steer the development of climate services worldwide.

The vision of the GFCS is to enable society to better manage the risks and opportunities arising from climate variability and change, especially for those who are most vulnerable to such risks.

The GFCS, which was launched in the Caribbean in May 2013, use five components for the production, delivery and application of climate information and services in the four priority areas outlined:

  • User Interface Platform
  • Climate Services Information System
  • Observations and Monitoring
  • Research, Modelling and Prediction
  • Capacity Development

The next National Consultation on a Framework for Climate Services will be held in Barbados.

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