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 Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

Finance

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Venezuela Probes ex-minister accused of corruption in Ferry Deals

A former minister in President Nicolas Maduro's government denied in an interview published on Friday accusations of corruption during the purchase of three

Environmental

IMO Calls for Environmentally Sound Ship Recycling in Bangladesh

The  International Maritime Organization (IMO) and the government of the People’s Republic of Bangladesh are jointly implementing a project entitled “Safe and

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Ocean Observation

Goliat FPSO in Norway

The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest,

Zim Offers Asia-US east coast service via Suez

Israeli liner carrier Zim Integrated Shipping Services is launching a new service between Asia and the U.S. East Coast via the Suez Canal at the end of May.   The

Gondan Lays Keef for IMR Oceanographic Vessel

Gondan Shipyard has celebrated at its facilities in Figueras the keel laying ceremony of the new Oceanographic Research Vessel for the Institute of Marine Research (IMR) of Bergen, Norway.

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
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: 0.2679 sec (4 req/sec)