BRITISH VIRGIN ISLANDS – CLIMATE CHANGE FINANCING

Government of the British Virgin Islands and the Caribbean Community Climate Change Center (CCCCC)

June 2012 to April 2015.

Climate Change Policy Specialist retained by the Government of the British Virgin Islands and the Caribbean Community Climate Change Center (CCCCC) to provide technical guidance and support to the High-Level Technical Working Group established by Cabinet to develop and legally establish a sustainable financing mechanism (Climate Change Trust Fund) to support the implementation of the BVI Climate Change Policy, a 10-year strategy for low carbon, climate and disaster resilient development in the British Virgin Islands.


Developed the broad-based consultative process to design the architecture for the BVI Climate Change Trust Fund which includes the following elements:

a) establishing the Trust Fund administrative structure/governance and operations;

b) Identifying market-based source of capitalization for the Trust Fund;

c) establishing Trust Fund mechanisms for revenue collection and management;

d) instilling effective governance for the Trust Fund;

e) (supporting efficient implementing arrangements for the Trust Fund including uses of Trust Fund monies;

f) facilitating monitoring, reporting and verification (MRV) for the Trust Fund.


The Virgin Islands Climate Change Trust Fund Act 2015 was adopted by the House of Assembly on the 24th March 2015.  See


http://www.bvi.gov.vg/pub/G00714_No%2012%20of%202015-Virgin%20Islands%20Climate%20Change%20Trust%20Fund%20Act%202015%202.pdf


and


http://www.bvi.gov.vg/media-centre/bvi-first-launch-financing-framework-climate-change-issues

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