22 nd June, 2016 Gary Gore (Interim Chairman) Presented at Organization of American States – Sustainable Cities Workshop, June 21-24
Outline of Presentation 1- Historical Context of the Marine Ecosystem Protected Area Trust Inc (MEPA Trust) 2- Overview of the MEPA Trust 3- MEPA Trust Governance 4- Aims and Objectives of the Trust & community involvement 5- MEPA Trust Accomplishments to date 6- Call for Project Proposals 7- Conclusion 8- Thank You
Historical Context of the Marine Ecosystem Protected Area Trust Inc. Governments of the region increasingly aware of economic values of marine / coastal resources, and their sharp decline
Governments of the region increasingly aware of economic values of marine / coastal resources, and their sharp decline Came together in 2008 to find a solution
Caribbean Challenge Initiative CCI Was Born
Governments of the region increasingly aware of economic values of marine / coastal resources, and their sharp decline Came together in 2008 to find a solution Out of this Initiative, senior government officials made two commitments
Governments of the region increasingly aware of economic values of marine / coastal resources, and their sharp decline Came together in 2008 to find a solution Out of this Initiative, senior government officials made two commitments 1 - “20 by 20” target. To effectively conserve at least 20% of their near-shore marine / coastal environment by year 2020
Governments of the region increasingly aware of economic values of marine / coastal resources, and their sharp decline Came together in 2008 to find a solution Out of this Initiative, senior government officials made two commitments “20 by 20” target. To effectively conserve at least 20% of their near-shore marine / coastal environment by year 2020 2 - To support and put in place a new sustainable finance architecture that will generate long-term funding for the marine and coastal environment in the form of trust funds and sustainable finance mechanism, such as tourism user fees
Proceeding Caribbean Challenge Initiative in 2008, The World Bank through The Nature Conservancy (TNC) the Implementing Agency, implemented a five year project on August 4 th , 2011. Ending December 31 st , 2016
“Sustainable Financing & Management of Eastern Caribbean Marine Ecosystem Project” was born Under the Sustainable Financing & Management of Eastern Caribbean Marine Ecosystem Project The Nature Conservancy and project partners came together and set up the Caribbean Biodiversity Fund (CBF) The CBF’s initial capitalization was US$32 million
CBF Purpose Regional endowment fund whose objective is to provide a sustainable flow of funds to support activities that contribute substantially to the conservation, protection and maintenance of biodiversity within the national protected areas systems or any other areas of environmental significance of its participating countries.
CBF Financing: Endowment Contribution for Antigua/Barbuda(US$) CBF KfW TNC GEF Endowment Participating (WB/UNDP) Geographies Antigua/Barbuda 2,559,174 300,000 1,440,000 4,299,174 Bahamas DR Grenada Jamaica St. Kitts & Nevis St. Lucia St. Vincent & Gren
Bases on Antigua & Barbuda’s endowment of US$4.3M with the CBF
Bases on Antigua & Barbuda’s endowment of US$4.3M with the CBF The proceeds generated by investing these funds (approximately $175,000 based on a return of 4.5% at current market rates) will be channelled to the MEPA Trust for project funding
Bases on Antigua & Barbuda’s endowment of US$4.3M with the CBF The proceeds generated by investing these funds (approximately $175,000 based on a return of 4.5% at current market rate) will be channelled to the MEPA Trust for project funding The MEPA Trust will be required to match CBF’s funding as of year three
Bases on Antigua & Barbuda’s endowment of US$4.3M with the CBF The proceeds generated by investing these funds (approximately $175,000 based on a return of 4.5% at current market rate) will be channelled to the MEPA Trust for project funding The MEPA Trust will be required to match CBF’s funding as of year three The MEPA Trust matching funds will come from the Sustainable Island Resources Framework Fund (SIRF Fund)
MEPA Trust Overview
The Marine Ecosystems Protected Area Trust Fund (MEPA Trust) is a National Protected Area Trust Fund (NPATF)
The Marine Ecosystems Protected Area Trust Fund (MEPA Trust) is a National Protected Area Trust Fund (NPATF) The MEPA Trust articles are consistent with the requirements of the Sustainable Financing & Management of Eastern Caribbean Marine Ecosystem Project
The Marine Ecosystems Protected Area Trust Fund (MEPA Trust) is a National Protected Area Trust Fund (NPATF) The MEPA Trust articles are consistent with the requirements of the Sustainable Financing & Management of Eastern Caribbean Marine Ecosystem Project The Trust is guided by laws, articles, operational manual and policies
Under the The Marine Ecosystems Protected Area Trust Fund (MEPA Trust) is a National Protected Area Trust Fund (NPATF) The MEPA Trust articles are consistent with the requirements of the Sustainable Financing & Management of Eastern Caribbean Marine Ecosystem Project The Trust is guided by laws, articles, operational manual and policies The MEPA Trust was duly registered on the 22 nd May, 2015 under the Companies Act of Antigua and Barbuda 1995, as a NOT FOR PROFIT COMPANY
MEPA Trust Governance
The Trust is govern by a board of directors consisting of eleven members
The Trust is govern by a board of directors consisting of eleven members Six Non Governmental (NGOs) and five Governmental
The Trust is govern by a board of directors consisting of eleven members Six Non Governmental Organizations (NGOs) and five Governmental Both non governmental and governmental members represents a wide cross section of civil society, private sector and government
Board Composition Natalya Lawrence-Marine Environmentalist-Environmental Awareness Group (EAG) ( NGO ) Dr Evelyn Weekes- Aquaponics NGO Ms. Ruth Spencer- Ruth’s Place (NGO/Private Sector) Mr. Gary Gore- Business and Fishing (Compliance) (NGO) Representative of TNC ( NGO ) Ms. Christine Young-Environmental -Galley Bay Hotel ( Private sector ) Representative of the Environment Division ( Gov) Ms. Cordella Weston- Budget and Finance-Ministry of Finance ( Gov ) Ms.Tricia Lovel, Fisheries Division ( Gov ) Mr. Ogen Burton-Codrington Lagoon Management-Barbuda ( Gov ) Senator Maureen-Hyman Payne, Lawyer-Legal Affairs ( Gov )
The Trust is govern by a board of directors consisting of eleven members Six Non Governmental Organizations (NGOs) and five Governmental Both non governmental and governmental members represents a wide cross section of civil society, private sector and government Both Chair and Deputy Chair are NGOs
The Trust is govern by a board of directors consisting of eleven members Six Non Governmental Organizations (NGOs) and five Governmental Both non governmental and governmental members represents a wide cross section of civil society, private sector and government Both Chair and Deputy Chair are NGOs A quorum consist of six members with NGOs maintaining the majority at all times
The Trust is govern by a board of directors consisting of eleven members Six Non Governmental Organizations (NGOs) and five Governmental Both non governmental and governmental members represents a wide cross section of civil society, private sector and government Both Chair and Deputy Chair are NGOs A quorum consist of six members with NGOs maintaining the majority at all times The Trust is guided by laws, articles, operational manual and policies
Aims and Objectives To provide a sustainable flow of funds which will enable the Trust to support the long term management and expansion of Antigua and Barbuda's areas of land and/or sea which are specifically dedicated to the protection and maintenance of biological diversity and natural resources and other activities that contribute substantially to the conservation, protection and maintenance of biodiversity as identified after consultation with stakeholders
Consistent with our Aims and Objectives The MEPA Trust will have stakeholders (fishers, farmers, users of the sea, etc.) and community involvement in all approved projects funded by the Trust
MEPA Trust Accomplishments to date The Trust is in the final stage of receiving approval from CBF for pre-financing (approval expected in 15-30 days)
MEPA Trust Accomplishments to date The Trust is in the final stage of receiving approval from CBF for pre-financing (approval expected in 15-30 days) The Trust has started the negotiation of the partnership agreement with CBF (approval is expected within 90 days)
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