Caribbean Enviro-Fund: GEF Contributes US$7.2-million

By George Backwell
Monday, June 30, 2014
Eastern Caribbean Sea: Photo The Nature Conservancy

The Nature Conservancy says that the Global Environment Facility (GEF), through the World Bank, has contributed US$7.2-million to the Caribbean Biodiversity Fund (CBF) to promote the conservation, protection, management and expansion of national protected area systems and other areas of biodiversity significance across the Eastern Caribbean region.

The marine and coastal resources of the Caribbean – its coral reefs, beaches, fisheries and mangroves – serve as an essential economic engine. However, unsustainable coastal development, climate change and overfishing, as well as land-based sources of sediment and pollution are negatively impacting the region’s marine and coastal ecosystems.

The CBF will distribute the proceeds generated by the investment to conservation trust funds that are in the process of being established in Antigua and Barbuda, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. These locally-managed funds will make grants to government agencies and non-governmental organizations to execute conservation projects with a strong emphasis on marine habitats.

“The return on investments from the CBF endowment will be a sustainable source of funds that will help countries cover their costs for the management of protected area systems and other conservation needs,” says Yabanex Batista, Chief Executive Officer of the CBF. “We are currently working on increasing the CBF capital and bringing more resources to further assist countries.”

“The Caribbean is the most biologically rich area in the Atlantic, retaining 10% of the world’s coral reefs and 12,000 marine species,” says Dr. Philip Kramer, Director of The Nature Conservancy’s Caribbean Program. “Continued investments in the Caribbean Biodiversity Fund, such as this generous support from the World Bank/GEF, are critical for putting the Caribbean on a path to a sustainable future.”

The Nature Conservancy is at: http://www.nature.org

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Finance

U.S. Awards $61.8 Mln for Port Projects

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.

Moody's: Challenges Ahead for Asian Port Operators

Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Environmental

Singapore, Malaysia Conduct Joint Chemical Spill Drill

The Maritime and Port Authority of Singapore (MPA) and the Marine Department of Malaysia (MDM) conducted a joint chemical spill exercise at sea along the East

Insights: Kunkel Weighs in on Propulsion Technology

LNG? Methanol as fuel? Hybrid systems? Tier 4? Reducing noise? Cutting emissions without crushing fuel economy? Marine News readers have questions and Bob Kunkel has answers.

Safety and Preparation on the Brownwater Radar

Weather Channel Forecasters are predicting a “near-average” hurricane season for 2016, but warn that an average season does not mean businesses and residents shouldn’t prepare for the worst.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0988 sec (10 req/sec)