Celebrating 25 Years of Action for Biodiversity

The coastal zone houses the most biologically diverse ecosystems in Trinidad and Tobago such as coral reefs, seagrass beds, rocky shores, beaches, mudflats, mangrove swamps and littoral woodlands and scrub [ ] 222 The benefits of the Green Fund The Green Fund was established under the Finance Act 2004 by the Government of Trinidad and Toba- go, and is capitalized by a tax on the gross sales and receipts of corporate companies operating in the country. The Fund is a grant facility available to Community Based Organizations (CBOs) and NGOs or, according to the legislation, “…any other body incorporated by or under a law other than the Companies Act.” The Fund’s resources are distributed by an agency established for that purpose under the supervision of an advisory committee. Groups qualifying for funding must be involved in activities focusing on environmental conservation, reforest- ation or remediation. In this regard, projects carried out in areas such as the Caura Valley have benefited. The Caura Valley watershed is affected by a range of driving forces, leading to declines in the capacity of the ecosystems in the area, especial- ly the forested lands and the river. Having noticed the changes that are taking place, and being the persons who are most directly affected by these changes, residents of the Caura Valley have mobilized themselves to become advocates, and lobbyists for the protection of the valley. The residents, led by the Caura Valley Vil- lage Council (CVVC), have become involved in many different projects and initiatives aimed at conserving and restoring the biological diversity of the valley; providing opportuni- ties for livelihoods; and reducing the vulnerability of the valley to natural disasters. In 2015, the CVVC finalized its Strategic Plan in which five goals were established: a well-managed watershed within environmental limits; strategic infrastructural devel- opment serving the valley; sustaina- ble levels of wealth generated by the residents; a vibrant, world-renowned heritage and nature centre; and a well-governed village council and an equipped Activity Centre. An impor- tant area of focus within the plan that ties the goals together is the develop- ment of eco-finance (or Payment for Ecosystem Services). The members of the CVVC consider that this type of scheme, which could be piloted and potentially funded under the Green Fund, would provide an opportunity to address many of their concerns related to the declining state of the ecosystems within the valley, and the associated risks that this poses, not only to residents, but to the wider community in Trinidad, especially in the context of climate change. The work completed to date ex- emplifies the commitment of com- munities in Trinidad and Tobago in helping to address the biodiversi- ty-climate change nexus on a local scale. This type of initiative, related to the development of an eco-finance model for the valley, is one that is likely be adapted across the country as an Eco-DRR model to help the country to reduce its vulnerability to climate change. T he economic value of biodiversity in Trinidad and Tobago is observable through its forests and marine ecosystems as they are the natural resources required for food, products and sustainable livelihoods. The added value of these ecosystems has greater benefit through preservation rather than destruction. The economic benefits from forests are important, not only as a natural resource, but also the added value from carbon sequestration. Forests also serve as a source for water and prevention of disasters such as forest fires. The value of the marine environment to the economy is seen in the fishing industry and through coastal protection. Trinidad and Tobago Stephanie Tom Yick Trinidad and Tobago