The Caribbean Biodiversity Fund
Established in 2012, the Caribbean Biodiversity Fund (CBF) is the realization of a bold vision to create reliable, long-term funding for conservation and sustainable development in the Caribbean region. The CBF and a group of National Conservation Trust Funds (NCTFs) together form the Caribbean Sustainable Finance Architecture.
Working as an umbrella fund with a flexible structure to implement innovative solutions for resource mobilization at the regional level, the CBF currently has two programs:
- Conservation Finance Program, anchored by a US$75 million endowment fund;
- Climate Change Program, anchored by a US$27 million sinking fund focused on Ecosystem-based Adaptation (EbA).
The CBF was created in the context of the Carribean Challenge Initiative (CCI), an regional, voluntary commitment launched in 2008 at the Conference of the Parties of the Convention on Biological Diversity (CBD COP-9) with two goals:
- Goal 1 - the 20-by-20 goal - to effectively conserve and manage at least 20% of the marine and coastal environment by 2020.
- Goal 2 - the sustainable finance goal - to establish fully functioning sustainable financial mechanisms that will provide reliable funding over the long term.
The CBF and its national partner funds together form the Caribbean Sustainable Finance Architecture, created to fulfil CCI's goal 2.
As part of its resource mobilization strategy and to help improve the enabling conditions of the Caribbean Sustainable Finance Architecture, the CBF plays the following roles:
- Convenes meetings of diverse stakeholder groups to advance dialogue on common issues.
- Builds the capacity of partner national conservation trust funds, grantees and governments.
- Raises awareness at the regional and international level of the importance of conserving the Caribbean’s natural resources for a sustainable future.
- Serves as a forum for regional coordination and cooperation.
Benefits of the CBF
As a regional organization, the CBF offers multiple benefits to partners, grantees and donors:
- A flexible structure
- Adherence to internationally recognized standards for conservation funds
- Alignment with international agreements
- Economies of scale
- Convenience for donors and partners interested in regional or multi-country impact
- A core endowment that generates a stable match for CBF partner funds
- Representation, with each partner fund having a seat on the CBF Board
- Capacity building
- Awareness raising at the regional and international level