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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.
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.
The 9th International Convention on Environment and Development will be held in Havana, Cuba on July 8-12, 2013, under the slogan “urge a major change for the future we want”. The convention, which is aimed at researchers, decision-makers, teachers, specialists, managers, entrepreneurs, and the general public, started in 1997, five years after the landmark United Nations “Conference on Environment and Development” (UNCED), informally known as the Earth Summit.
The ninth staging of the gathering comes a year after the staging of the momentous Rio+20 Summit. Its main objective is to promote integration, implementation, and coherence between what must be done and what was identified for action at recent international conventions and summits.
The Convention is organized in groups for congresses and colloquiums, covering many current environmental contents. There will be 6 congresses on Climate Change, Environmental Education, Protected Areas; Environmental Management, Management of Ecosystems and Biodiversity, and Law and Environmental Justice, and four colloquiums on Environmental management, Sustainable Land Management, Environmental Regulation, and Transport and Environment.
In addition, renowned national and international experts will give lectures and roundtable discussions on priority environmental issues. An exhibition fair associated with technologies, environmental projects and experiences will be also held. Independent professional contributions are also strongly encouraged.
Find out how to register for this conference here.