Sustainable Investment in the Future of the Turks and Caicos Islands' People and Environment
The Covid-19 pandemic demonstrated the fragility of the global economy to unforeseen disruption. The pandemic caused significant losses of revenue from tourism in the Turks and Caicos Islands (TCI), which is likely to have lasting economic, social, and environmental impacts. Withstanding future shocks to the economy and environment will require broadening employment and investment opportunities to strengthen the islands’ community and economy without compromising the environment.
JNCC is partnering with the TCI Government, Turks and Caicos National Trust, Invest Turks and Caicos, TCI Fishing Cooperative, and stakeholders from key sectors within the islands to support a recovery from Covid-19 that is economically, socially, and environmentally robust, through the development of skills that create sustainable livelihood opportunities and highlight long-term sustainable investment options.
Introduction
By asking how communities and businesses have been impacted by Covid-19, this project provides insights into how TCI can build resilience to future shocks by identifying new economic activities and opportunities for skills' development that support the natural environment and deliver widespread benefits to communities across the TCI.
Activities
The project's activities include:
- Establishment of a Community Hub led by an on-island Community Hub Coordinator, which will deliver key trainings and equip community members with the skills needed for economically resilient and sustainable jobs. More information and updates on the Community Hub is available in the section below.
- Development of a Natural Capital Investment Plan which will demonstrate how financial investment can support people, nature, and the economy by signposting opportunities to sustainably generate income from the environment of TCI.
- Exploration of the potential reinstatement of the TCI Conservation Fund.
The project’s activities are underpinned by extensive stakeholder engagement so that the work delivered reflects the specific needs of the local communities, businesses, and environment of TCI.
Outcomes
The project's outcomes will be demonstrated by:
- The Community Hub being established, self-financed and playing a significant role in generating and maintaining sustainable livelihoods within the TCI economy.
- Around 150 Community Hub trainees developing enhanced skillsets that equip them for new job prospects or help them to grow in their current career, contributing to community resilience within TCI.
- Identification of market opportunities for investing in nature through the Natural Capital Investment Plan, with local businesses recognising these opportunities as feasible and making pledges to explore them further in the context of operations and value chains.
- The development of Investment models for a potential reinvigoration of the TCI Conservation Fund which will be presented to TCI Parliamentarians for consideration.
Community Hub
Initially the Community Hub will not be a physical structure or entity: following its establishment through this project, the Community Hub will have a dedicated web and social media presence to facilitate lasting engagement and awareness raising.
Training courses designed to be run through the Community Hub will consider the skills required for improving existing and creating new activities that provide value to the people, economy, and natural environment of the TCI. Activities will be planned to ensure gender equality and to include marginal and vulnerable groups.
Future Activities
Details of future activities along with project updates will be added to this page throughout the project.
Partners and Funders
The Defining a Post Covid-19 Resilient Recovery project is being implemented in partnership with:
- Turks and Caicos Islands Government Department of Environment and Coastal Resources (DECR).
- Turks and Caicos National Trust.
- Invest Turks and Caicos.
- Turks and Caicos Islands Fishing Cooperative.
This project is funded by the Caribbean Overseas Countries and Territories (OCTs) Resilience, Sustainable Energy and Marine Biodiversity Programme (RESEMBID), a programme financed by the European Union and implemented by Expertise France, the development cooperation agency of France.
Related Work
The Defining A Post-Covid-19 Resilient Recovery in the Turks and Caicos Islands project builds on previous projects delivered by JNCC in partnership with the Turks and Caicos Islands Government, including:
- Greening the Economy of TCI (2015)
- Sustainable Finance in EU Overseas Territories (2017)
- TCI Natural Capital accounting project (2019)
- COT Regional Natural Capital Accounting Programme (2020-23)
- TCI technical assistance for coastal-marine management (2020-23)
The project is also being implemented alongside the JNCC-led and RESEMBID-funded project: Sustaining queen conch fisheries and livelihoods in the Turks and Caicos Islands.
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