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Strengthening Environmental Institutional Capacity in Barbados as part of the Debt for Nature Transaction Commitments

December 16, 2022 por Jennifer Doherty-Bigara - Jim Tolisano - Gregory Watson Leave a Comment


The role and importance of nature in our lives has become mainstream and governments are considering it for our future. This growing global awareness reveals the strong connections between human health, livelihoods, economic resilience, climate adaptations, and our use of nature. Everyone is talking about it, but most importantly many more are acting on it. Nine philanthropic foundations have announced they will commit $5 billion to nature conservation over the next 10 years – Germany has increased its annual biodiversity aid funding to 1.5 billion Euro, and the EU has committed an additional $1.13billion. Countries came together at Biodiversity COP 15 in December to negotiate a new global biodiversity framework, and targets for the future.  These trends suggest that we are at an incredibly opportune time to forge a path that reveals and inspires the adoption of nature-based solutions that are practical, equitable, and enduring.

In Barbados, the Debt for Nature transaction recently closed with the support of the IDB and the Nature Conservancy was a milestone to acknowledge the country’s commitment in the biodiversity and climate agenda.  The issuance of the new sustainability bond allowed Barbados to retire old debt and generate USD50M in savings.

The newly established Barbados Environmental Sustainability Fund (BESF) will receive 50M savings generated by the transaction and will therefore be poised to act. The BESF will provide the essential funding and technical direction to locally driven conservation and sustainable development needs for the terrestrial and marine ecosystems of Barbados. Its financing programs and management team will align actors, projects, and funding with local and national biodiversity and climate change objectives, and this can produce a model that has the capacity to attract significant attention and interest from the donor and investment community and serve as an important model for other SIDS nations.

The Government of Barbados (GoB) is a key player in this process, and its ongoing guidance to the BESF, as one of its Board members, will provide essential direction to the fund’s independent team. The Inter-American Development Bank (IDB) will also continue to support the Government through a series of short-term consultancies that can add expertise and inputs from past experiences to the innovative and independent thinking needed to meet the BESF goals. Specifically, the IDB has pledged funding to support an integrated team of experts to strengthen the GoB’s support to the BESF and the government’s capacity to plan and deliver strong policies and practices to conserve Barbados’s rich coastal and marine ecosystems.

To further strengthen their role, the IDB has allocated resources from NDC Pipeline Accelerator (ACL)* Multi-Donor Trust Fund to have a series of training and capacity-building courses provided to Government leaders and advisors to the BESF, with a focus on governance policies and practices, institutional effectiveness, grants management and program administration, financial management, and risk reductions and safeguards.

Furthermore, as governance and a science-based process are adamant to further attain the targets included in the debt for nature transaction, it will be critical to pursue an inclusive Marine Spatial Planning process.

The MSP is a forward-looking process that relies on the best available science, data, economic modeling, and information to engage stakeholders at all possible levels to determine the most coherent allocation of Barbados’ more than 186,000 km2 of marine space across all sectors.

The Government of Barbados and BESF are planning to launch this process by at the beginning of 2023 with a large stakeholder representation. The outcomes will allow Barbados to make informed and coordinated decisions about how to use the marine space and inherent resources most efficiently, such that conflicts are reduced, marine ecosystems are protected, and sustainable development goals are achieved.

For this purpose, the technical cooperation will also support the Government with the following activities:

  1. The improvement of existing Geographic Information Systems (GIS) data, methods, and results, building data infrastructure and developing and maintaining partner institution relationships. The spatial planning specialist will work collaboratively with a monitoring-reporting-verification expert to develop appropriate indicators, baselines, data collection and analysis procedures, and documentation and reporting standards.

  2. The draft of an Ocean Policy which will include a Marine Physical Development Master Plan to sustain the health and functionality of Barbados’ coastal, near shore, and marine ecosystems, support local and national businesses and economic sectors, advancing the principles of a sustainable blue economy, and enhance the cultural, spiritual, and emotional enjoyment of marine ecosystems by the people of Barbados.

  3. The development of a Natural Capital Assessment to value the economic, social, and environmental Barbados’s ocean ecosystems as an interconnected system to produce a robust evidence base, a suite of tools, and a framework for the Marine Master Plan.

  4. A team for environmental education and communications that will support to the Barbados Coastal Zone Management Unit (CZMU) within the Ministry of Environment and Natural Beautification in the preparation and dissemination of educational information related to the marine spatial planning (MSP) process, including monitoring of activities and performance, and the management and reporting on all funds granted to these activities. This support will be closely developed with a specific Communications team that will develop a comprehensive stakeholder engagement plan and the communication of all aspects related to the MSP process, including a suite of evaluation tools to determine the effectiveness of the public engagement campaign.

*The NDC ACL is a Multidonor Trust Fund that supports Latin American and the Caribbean (LAC) countries with early-stage technical assistance for low-carbon and climate-resilient projects to meet their commitments under the Paris Agreement, Sustainable Development Goals and national climate strategies. It is managed by the IDB thanks to the support of the Nordic Development Fund (NDF), the Minister for Foreign Trade and Development Cooperation of the Kingdom of the Netherlands, the Ministry of Foreign Affairs of Sweden, the Federal Ministry of Finance of Austria, and the Ministry for Foreign Affairs of Finland.


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Jennifer Doherty-Bigara

Jennifer Doherty-Bigara is a policy advisor and climate change specialist at the Inter-American Development Bank, based in the country office of Barbados. With over ten years of experience in the sustainability agenda, she has mainly focused on climate governance and national and local climate change policies (NDCs, LTS, SDGs), fiscal policy and green budgeting, climate finance and long-term planning exercises with an adaptation approach. Jennifer has gained analytical and operational knowledge advising governments through the coordination of the NDC Invest Platform and afterwards mainstreaming climate change considerations in the IDB portfolio of Argentina, Chile, Paraguay and Uruguay, ensuring the design and implementation of sustainable development projects. She also gained key insights as an external appointee in the Agence Française de Developpement (AFD), coordination the efforts of the Adapt ‘Action Platform in the Gulf of Guinea and the Indian Ocean. She has also worked on climate finance and coordinated fundraising efforts as part of the SECCI Funds, ACL, PROADAPT, and bilateral donations. Jennifer holds a master´s in International Development Policy from the McCourt School of Public Policy (MSPP), University of Georgetown and a Master’s in International Affairs from Sciences Po Toulouse. Follow Jennifer on Twitter: @jdohertybigara @jdohertybigara

Jim Tolisano

Jim Tolisano is Executive Director of Innovating Conservation LLC, a boutique consulting group that integrates conservation finance, eco-enterprise development, nature conservation, and environmental education towards nature-based solutions to climate and biodiversity challenges. Jim has led and advised nature conservation projects in more than 50 countries, including recent work as the IADB Advisor to Barbados in the establishment of their new national conservation trust fund and associated marine spatial plan. He has also recently guided the Africa Protected Areas Directors (APAD) in their proposal for an all-Africa Protected Areas Conservation Trust (APACT); led the establishment and roll out of the trinational Cubango-Okavango River Basin (CORB) trust fund; and assisted Coast Funds and the First Nations in British Columbia in strategic financial planning for the first indigenous led network of marine protected areas. Jim continues to work with a wide range of bilateral and multilateral donors, governments, NGOs, and indigenous networks to support land and seascape-scale sustainable finance and biodiversity strategies throughout the Caribbean-Latin American and Africa regions, including extensive work with innovative finance, offsets and OECM designations engaging forestry, oil and gas, hydroelectric and mineral development projects. He is on the Advisory Board of the Center for Sustainable Business at New York University, and an Adjunct Professor of Conservation Science in NYU's Gallatin School and Environmental Studies program. From 2006-2012, Jim led the development and served as Executive Director of Kinship Conservation Fellows, an international environmental leadership program that provides integrated training in conservation finance strategies, sustainable finance, business management, and economic tools.

Gregory Watson

Gregory Watson leads the IDB's Natural Capital Lab program, funded by the French and UK governments. It works with the IDB Group and partners to drive innovation in financing natural capital and promote the incorporation of biodiversity. It incubates, accelerates and scales new solutions to pressing environmental problems, looking to nature as an asset. Previously, Greg worked at the IDB Lab, where he led the IDB's first equity investment in oceans, an equity investment in a silvopastoral system in Macaúba, developed the first Habitat Bank in Latin America and the Caribbean, supported an asset class for of natural capital and the US$20 million Climate Fund Investment Project for Forests. He also created the EcoMicro green microfinance program, conceptualized Climatescopio and the world's first private sector FIP project in Mexico. Mr. Watson holds a master's degree from the Fletcher School of Law and Diplomacy and a bachelor's degree from Tufts University.

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