Climate Change Trust Fund the ‘best hope’ for VI’s protection- Hon Turnbull
He made the statements on August 17, 2022, while announcing that the Climate Change Trust Fund and its board is being re-established.
Fund will support Gov't
He reminded that the Trust Fund was established by The Virgin Islands Climate Change Trust Fund Act, 2015 as an independent entity responsible for raising, managing, and disbursing funds to build our resilience to climate change impacts and to reduce our carbon emissions. It is the first of its kind in the region.
“The Trust Fund, as established, can support actions by the Government, private sector and civil society, including on-the-ground projects, capacity building, education, research, studies, introduction of innovative technologies, changes in legislation, policy/strategy development, and establishment of incentive programmes.”
Hon Turnbull said in real terms, the Trust Fund provides a vehicle to access large-scale international financing to ensure the Virgin Islands can survive in a changing climate that is hotter and drier with more extreme weather events, rising seas, and new diseases.
Hon Melvin M. Turnbull said in real
terms, the Trust Fund provides a vehicle to access large-scale
international financing to ensure the Virgin Islands can survive in a
changing climate that is hotter and drier with more extreme weather
events, rising seas, and new diseases.
Resources will go towards investments
He added that Resources pooled in the Trust Fund can support investment in schools, health facilities, ports, roads and other infrastructure and facilities that are hurricane and flood resilient and added that it opens room for innovative opportunities like financing programmes for home and business owners to make their own properties resilient.
“The Trust Fund is our best hope for protecting our low-lying coastal communities from sea level rise and stronger storm surge, by restoring and protecting our coral reefs and mangroves,” Hon Turnbull said.
He added that it also remains a ticket to funding the VI’s transition to energy independence and security, while being an example to the world, through large-scale conversion to clean, green, renewable energy.
