Climate Financing by SIDS – Models of International Best Practices from the Caribbean
Summary
Caribbean SIDS are among the most climate-vulnerable countries globally. Traditional financing channels are insufficient to meet the scale of needs. This necessitates new, innovative financing instruments tailored to the Caribbean context, blending concessional, commercial and philanthropic flows. COP30 provides a strategic platform to spotlight innovative and replicable climate finance mechanisms established in Caribbean SIDS and shared challenges:
Roofs to Reef Programme (Barbados)
Self-Seeded Climate Change Trust Fund (The Virgin Islands)
Carbon and Biodiversity Credits (Guyana)
Debt for Nature Swap (Belize)
Sustainable Island Resources Framework (SIRF) Fund (Antigua and Barbuda)
Challenges for the Financing and Implementation of Climate Change Projects
Objectives
Showcase VICCTF as one of the best practices innovative climate financing mechanisms
Facilitate dialogue on scaling up financing solutions - Position VICCTF and Caribbean SIDS as leaders in climate finance innovation
Mobilize interest and partnerships for international support to VICCTF and other regional climate finance initiatives
Develop partnerships
Speakers
Moderator:
Dr. Colin Young, Executive Director, Caribbean Community Climate Change Centre (CCCCC)
Panellists
Ricardo Marshall, Director of the Roofs to Reefs Programme, Office of the Prime Minister, Barbados
Dr. Ronald Berkeley, Permanent Secretary, Ministry of Environment, Natural Resources and Climate Change, Government of The Virgin Islands
Dr. Kedrick Pickering, Climate Envoy for the Premier and Former Minister of Natural Resources and Labour, The Virgin Islands
Ms Preeya Rampersaud, Technical Coordinator, Forest Climate Leaders Partnership, Guyana
Leroy Martinez, Ag. Director of the Climate Finance Unit, Ministry of Economic Transformation - Belize Debt for Nature Swap
Ambassador Diann Black-Layne, Department of Environment/Sustainable Island Resources Framework (SIRF) Fund (Antigua & Barbuda)
Donneil Cain, Climate Change Program Officer, Caribbean Development Bank (CDB)
Dr. Colin Young
Dr. Colin A. Young, a Belizean national, is the Executive Director of the Caribbean Community Climate Change Center (CCCCC) headquartered in Belize since January 2020. Prior to his appointment at the CCCCC, Dr. Young served as the Chief Executive Officer (CEO) of the Social Security Board, a parastatal entity that administers Belize’s Social Security Fund, from 2017 to 2019 were he championed contribution reform, technology transformation and numerous legislative changes. Dr. Young also served as the CEO in the Ministry of Agriculture, Forestry, Fisheries, the Environment, Sustainable Development where he had overall responsibilities for all of the portfolios, including climate change, other than agriculture as well as the CEO in the Ministry of Energy, Science and Technology and Public Utilities from 2012-2015. Dr. Young has served on numerous boards including the Green Climate Fund, a financial mechanism under the United Nations Framework Convention on Climate Change. He holds both a Master of Science and Doctor of Philosophy degree in ecology and evolutionary biology from the University of Connecticut in the United States.
Ricardo Marshall
Ricardo Marshall is a career public servant with a proven track record of providing quality technical advice, leadership and programme/project management and implementation to the government and people of Barbados. He brings holistic thinking and practical knowledge across a wide range of technical subjects related to sustainable development and climate change response for small island developing states. Having spent most of his career serving in the Ministries responsible for Environment and Health, he joined the Ministry of Finance, Economic Affairs and Investment as the Director of the Sustainable Development Section, and of the Roofs to Reefs Programme. This portfolio was then transferred to the Prime Minister’s Office. He has represented Barbados and the Alliance of Small Island Developing States (AOSIS) on matters related to Adaptation, Mitigation, Loss & Damage, Just Transition, Climate Finance and Climate Justice. Ricardo works on a wide range of subjects including sustainable development, blue and green economy, climate change, finance, resilience and development, resource conservation, international multi-lateral environmental agreements, biodiversity management, biosafety, desertification, land degradation, alternative energy, and solid waste management.
Dr. Ronald Berkeley
Permanent Secretary, Ministry of Environment, Natural Resources and Climate Change, Government of The Virgin Islands
Dr. Kedrick Pickering
Dr. the Honourable Kedrick D. Pickering, an international best-selling author of, ‘Walk in Faith & Medicine’, was sworn in as Deputy Premier of the Government of the British Virgin Islands by His Excellency Governor Boyd McCleary on 9 November 2011 and held this position until March 2019. Dr. Pickering also held the position of Minister responsible for Natural Resources and Labour, as well as overseeing the development of the country’s airport.
Kedrick is a Fellow of the American College of Obstetrics and Gynecology (FACOG) and continues to operate a private Obstetrics and Gynecology practice. Dr. Pickering also co-owns a multi-disciplinary medical center in the British Virgin Islands.
Kedrick’s political career began in 1999 when he was first elected to public office as an Opposition Member of the Legislative Council of the Virgin Islands. During his fourth term, he secured his district with an overwhelming 70% of the vote.
Deeply committed to community development, Dr. Pickering resides in the same community where he was born and raised. His involvement extends beyond politics and medicine—he has a history of being active in softball and basketball and has coached various local sports teams. Throughout his career, Kedrick has worked tirelessly to improve not only his community, but to make the world a better place as well.
Passionate about environmental sustainability, Dr. Pickering has led and contributed to numerous initiatives as a government minister. His leadership roles have included key involvement in the Caribbean Challenge Initiative, which fosters high-level political engagement to safeguard marine and coastal resources across the region. In 2013, under his guidance, the BVI served as Co-Chair in the European Union (EU)-Overseas Countries and Territories (OCT) Forum, and Climate Change Policy.
Most recently, Dr. Pickering released his book, Walk in Faith & Medicine, on 12 December 2024. Within 24 hours of its release, this deeply insightful book became a #1 Best Seller in seven countries (England, Wales, Ireland, Scotland, Canada, Australia, and the USA).
Married to his lovely wife Alice since 1993, Dr. Pickering is a proud father of four grown children and one grandchild. He continues to reside in his home community, honoring his heritage through contributions to medicine, governance, and environmental advocacy.
Leroy Martinez
Leroy Martinez is the Ag. Director of the Climate Finance Unit, Ministry of Economic Transformation. In 2012, he had the oppurtunity to work with CCCCC as an intern where he learned and was exposed to several climate change and finance initiatives. This motivated Mr. Martinez to join the Ministry of Economic Transformation as an Economist and the Green Climate Fund focal point.
During his carrer he has experience tremdous success as he quickly became the Ag. Director of the Climate Finance Unit which was established in 2022. He has managed to increase the Unit personell to 16 officers and a ongoing portfolio of over USD 110 million. In addition, as the director he is responsible for 9 entities such as GCF, AF, EU, NAPGN and others. This has allowed me Mr. Martinez to play a key role with the Government of Belize in accessing climate finance. He also, serves as an alternate board member with the Coastal Zone Managment and Institute and with the Belize Fund for Sustainability established under the Blue Bond Transaction.
During COP30 he will be co-leading the climate finance focus area and will be responsible to follow negotiations on the GCF and Adaptation fund as his primary responsibilities.
Ambassador Diann Black-Layne
Department of Environment/Sustainable Island Resources Framework (SIRF) Fund (Antigua & Barbuda)
Donneil Cain
Mr. Donneil Cain is Coordinator, Climate Change, in the Environmental Sustainability Division, at the Caribbean Development Bank (CDB). Mr. Cain is an Economist who holds a Doctorate of Philosophy in Economics from the University of Nottingham in the United Kingdom, a Master of Science degree in Economics and a Bachelor of Science degree in Economics and Statistics from the University of The West Indies, Mona Campus. Donneil has a strong background in project development, economic research, financial and economic analysis, and climate finance. Donneil is focussed on helping Caribbean countries identify and develop bankable projects and programmes that build climate resilience and mitigate climate change impacts.
Preeya Rampersaud
Preeya Rampersaud is Guyana’s representative on this panel. She leads strategic initiatives that integrate biodiversity conservation and climate resilience. With over 15 years’ experience in the sustainable development space, Preeya has a strong background in environmental policy and management. Her work focuses on advancing innovative solutions that protect ecosystems while supporting human well-being, driven by her passion for bridging science, policy, and practice to create impactful change for people and nature. Preeya holds a Master of Science Degree in Environmental Policy & Management and a Bachelor’s Degree in Environmental Sciences.