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CCNTV6
  • 8 months ago
With problems like climate change posing a challenge to environmental sustainability, environmental preservation is critical.

The Green Fund is a mechanism that has been set up to finance initiatives aimed towards this.

But is it being adequately utilised? It's a question coming from the Environmental Management Authority.

Alicia Boucher has the details.
Transcript
00:00Climate change has been named as a contributor to the intensity and frequency of adverse weather events.
00:06These include storms or drought-like conditions.
00:09Here in TNT, one of the major issues is flooding.
00:13However, there are several other aspects which threaten the environment,
00:17such as coastal erosion and different types of pollution.
00:20The Green Fund was set up to provide financial support to entities that are engaging in initiatives
00:26which seek to mitigate some of these environmental issues.
00:30Towards creating a safer and more sustainable environment.
00:34These include organizations, non-governmental organizations and community groups
00:39that are registered with the entity overseeing the fund,
00:42which is the Ministry of Planning, Economic Affairs and Development,
00:45formerly called the Ministry of Planning and Development.
00:48But Chief Executive Officer of the Environmental Management Authority, Hayden Romano, calls for it to be examined.
00:55I mean, I want to say the elephant in the room, the Green Fund.
01:00We are told that this fund now has something like $10 billion.
01:07We are told that we have disbursed less than 2% of the fund.
01:14Why?
01:16And that's all I can ask.
01:19Why?
01:19You know, somebody needs to get in there and do some work and find out why is the Green Fund not operational?
01:30Because if you spend less than 2%, what are you doing?
01:34According to Romano, the Global Environment Facility Small Grants Program under the United Nations Development Programme,
01:41has been doing a good job in the country, including in communities like Matura, Brasso Seco and Grand Revere.
01:48Jeff SGP also provides financial aid to NGOs, civil society organizations, and community-led organizations
01:57for projects geared towards the same purpose of preserving and restoring the environment.
02:04And I can speak for SGP because I happen to be the operational focal point for Jeff.
02:08I mean, and that is one of my, you know, happy places.
02:14Jeff SGP in terms of the work with the communities.
02:18So we know, I mean, or if we don't know, we could, you know, lean on SGP to assist us
02:26with respect to how we can, you know, capitalize on our Green Fund.
02:33But clearly, with that Green Fund, we need to do things differently.
02:39Corporate private sector entities in the country which generate revenue
02:42pay a levy of 0.3% towards the fund per quarter
02:46based on the gross sales or receipts, regardless of a profit or loss.
02:51Before anything else, because this is before any expenses they have, it's on sales,
02:58you have to contribute to this fund, and therefore, they will be very concerned
03:04in terms of where is this money going to.
03:06TV6 News has reached out to the program coordinator of the Green Fund,
03:09and we are awaiting a response.
03:12Alicia Boucher, TV6 News.
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