CBF Marine Protected Areas Costing Study
The Caribbean Biodiversity Fund (CBF), the Caribbean Challenge Initiative (CCI), and partners are working on the design of sustainable finance mechanisms for the National Conservation Trust Funds (NCTFs).
As part of this process, the CBF is working with consultant Egide Cantin in select countries to assess the overall financial need of the marine component of the National Protected Area Systems. The results of this work will better inform the strategies and new financial mechanisms that need to be designed and implemented to generate enough resources to achieve the CCI 20-by-20 goal (To effectively conserve and manage at least 20% of the marine and coastal environment by 2020).
Egide will cover four pilot countries: Antigua & Barbuda, Dominican Republic, St. Vincent & the Grenadines and Saint Lucia. The process for the protected areas (PA) system’s costing exercise is participatory and involves workshops with the countries’ stakeholders to identify the finance gaps for the marine areas in each country’s PA system. By August 2017, it is expected that stakeholders in the four countries will be equipped with not only an estimated target value – a dollar figure of the overall financial need to conserve, protect, manage and expand the marine National PA Systems -, but also with a better understanding of the process and the ability to carry out similar exercises to re-evaluate that figure in the future.