Caribbean Challenge Initiative

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Caribbean Challenge Initiative

Outline of Presentation 1. Context and history 2. Phase I of CCI 3. Phase II of CCI

Origins of CCI Governments increasingly aware of economic values of marine / coastal resources, and their sharp decline REEFS BEACHES FISHERIES MANGROVES

Caribbean Challenge Initiative (CCI) Launched in 2008

Caribbean Challenge Initiative Purpose For marine and coastal environment 1. Political will 2. Funding 3. On-the-ground action

Outline of Presentation 1. Context and history 2. Phase I of CCI 3. Phase II of CCI

Red = 10 CCI members Yellow = interested US Virgin Islands British Virgin Islands Belize

Caribbean Challenge Initiative Core commitments in Phase I 1. 20 by 20 Effectively conserve at least 20% of near-shore marine / coastal environment by 2020 2. Sustainable finance architecture Set of trust funds and sustainable finance mechanisms to provide long-term funding

Donor support in Phase I New financial commitments of US $75M

CBF/NCTF Structure Initial Donors Board of Directors* TNC KfW GEF Endowment Funds Caribbean Biodiversity Fund (Proportioned to each Trust By Initial Donors) Investment Manager 5% annual max payout Antigua & Barbuda Trust* Bahamas Trust* SVG Trust* Grenada Trust* St. Kitts & Nevis Trust* Jamaica Trust* DR Trust* St.Lucia Trust* Revolving Funds Revolving Funds Revolving Funds Revolving Funds Revolving Funds Revolving Funds Revolving Funds Revolving Funds * Majority non-government boards. Local Level Projects

Caribbean Biodiversity Fund Initial annual funding available to each country Countries KfW TNC GEF Endowment Annual CBF funding Antigua & Barbuda 2,559,174 300,000 1,440,000 4,299,174 193,463 Bahamas 5,000,000 5,000,000 225,000 Dominican Republic 8,530,579 1,000,000 9,530,579 428,876 Grenada 2,559,174 300,000 1,440,000 4,299,174 193,463 Jamaica 4,478,554 500,000 750,000 5,728,554 257,785 St. Kitts & Nevis 2,559,174 300,000 1,440,000 4,299,174 193,463 St. Lucia 2,559,174 300,000 1,440,000 4,299,174 193,463 St. Vincent & Gren 2,559,174 300,000 1,440,000 4,299,174 193,463 Total 25,805,000 8,000,000 7,950,000 41,755,000 1,878,975

On-the-ground progress in Phase I (examples) 1.2 million acres Andros Island Prot Area (Bahamas) 12M acres of new MPAs (Dom Republic)

Outline of Presentation 1. Context and history 2. Phase I of CCI 3. Phase II of CCI

Launching Phase II of CCI Summit of Political and Business Leaders (May 17-18, 2013) Hon. Keith Mitchell (Prime Minister of Grenada) Hon. Orlando Smith (Premier of BVI) Sir Richard Branson (CEO of Virgin)

Summit outcomes Jumpstart Phase II Commitments Actions Funding Leaders Declaration Corporate Compact New governments will join CCI Announcements of new actions by governments and companies New public and private funding to support commitments

Summit Roadmap Three Tracks 1. Governments 2. Companies 3. Partners (e.g. public donors, pvt fdns)

Antigua and Barbuda Summit participants 10 heads of gov t (yellow confirmed) Bahamas BVI Grenada Dominican Republic PM Keith Mitchell Jamaica PM Perry Christie Puerto Rico Premiere Orlando Smith St. Kitts & Nevis PM Tillman Thomas St. Lucia President Danilo Medina St. Vincent & Gren. PM Portia Simpson-Miller Gov. Alejandro Garcia Padilla PM Denzil Douglas PM Kenny Anthony PM Ralph Gonsalves

Leaders Declaration Framework for Action and announcements of new actions 1. Marine / coastal prot areas 2. Restoration 3. Sustainable coastal tourism 4. Sustainable fisheries 5. Adaptation to climate change 6. Marine pollution 7. Calls for US $200M for CBF

Summit participants ~ 20 business leaders already confirmed (in yellow)

Corporate Roundtables Introduce Summit, Compact, Defend Paradise New York Santo Domingo Los Angeles Miami Kingston - London - Toronto - San Juan

Corporate Compact Framework for Action 1. Reform business operations 2. Raise customer awareness 3. Mobilize financial resources

Defend Paradise Campaign to mobilize corporate funding 1. Co-branded Products Quicksilver Guy Harvey Sportswear

Defend Paradise Campaign to mobilize corporate funding 2. Exclusive Discounts

Defend Paradise Campaign to mobilize corporate funding 3. Special Activities Bacardi and Coke sponsor Defend Paradise fundraising parties at nightclubs across US and Europe

Summit participants ~ 20 existing / potential partners already confirmed (in yellow)

Thank You!

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