Sister Islands key to unlocking billions in climate funds

The Virgin Islands Climate Change Trust Fund (VICCTF) is pushing for strong participation from the sister islands, saying successful projects across the territory could strengthen its credibility and eventually help the BVI access billions of dollars in global climate financing.

Dr Shannon Gore, a member of the VICCTF Board of Trustees, made the point during the recent launch of the fund’s first Call for Proposals, as she addressed concerns about whether funding would be distributed fairly across the islands.

Gore said the board intends to actively encourage communities outside Tortola to submit proposals, particularly from Jost Van Dyke and Anegada.

“We are gonna really push to try to get communities outside of Tortola to submit projects,” Gore said. She explained that ensuring projects are fairly selected, properly managed and successful will also help demonstrate that the fund is operating transparently.

“When we have successful, fair, transparent projects, it makes the fund look good, and we’re trying to become accredited,” Gore explained.

Accreditation is considered important because it could allow the VICCTF to directly access larger pools of international climate financing that are currently beyond the BVI’s reach. Gore noted that the territory’s status as a United Kingdom Overseas Territory currently limits access to several international funding sources.

“There’s billions of dollars out there,” she said. “Right now, because we’re a UK Overseas Territory, we cannot access a lot of those funds.”

She said the goal is therefore to build a strong track record of transparent decision-making, successful projects and territory-wide participation that can withstand scrutiny from international funding bodies.

The VICCTF recently invited eligible businesses, farmers, non-profit organisations, community groups and other entities to seek funding for projects aimed at addressing climate change and strengthening resilience across the territory.