Financial plan to build resilience of the Galapagos
The Climate-Compatible Galapagos Program seeks to mobilize USD 172.8 million in international and private funds to devise climate change adaptation and mitigation measures for the Galapagos Islands.
CAF—development bank of Latin America—, the World Wildlife Fund (WWF) and the United Nations Food and Agriculture Organization (FAO), together with Ecuador’s Ministry of Environment, Ministry of Agriculture and Livestock, Ministry of Energy and Non-Renewable Resources and the Galapagos Special Regime Governing Council launched the Financing Proposal for the “Climate Compatible Galapagos” Program, which seeks to mobilize USD 172.8 million in international and private funds to enhance the climate resilience of the Galapagos Islands by adopting climate change adaptation and mitigation practices.
The Program is led by the Ministry of the Environment, which commissioned CAF as Green Climate Fund (GCF) Implementing Agency to devise a comprehensive climate change adaptation and mitigation program for the Galapagos Islands.
Norman Wray, minister of the Galapagos Governing Council, emphasized the beauty of the islands and the need to protect them, and acknowledged the hard, coordinated work on the issue of agricultural production, and the actions taken by the government to ensure electricity supply, among others.
Also, Bernardo Requena, CAF representative in Ecuador, stressed the importance of the program for the islands, where issues such as shifts in the energy matrix or climate variability require effective action to reduce vulnerability in this ecosystem, a top priority in conservation efforts. Requena also emphasized the benefits of bringing the Ministry of Environment—leading the initiative as Designated National Authority before the Green Climate Fund—, the Ministry of Agriculture and Livestock, the Ministry of Energy and Non-Renewable Resources and the Governing Council of the Galapagos Special Regime together into one single program working for one of Ecuador’s natural jewels.
The program will comprise four components: diversification of the energy matrix, implementation of climate-smart agriculture and livestock, improving the resilience of island ecosystems and protected areas, and building human and institutional capacities.
The first component seeks to finance renewable energy generation projects that are part of the Generation Expansion Plan for the Galapagos Isolated System. To this end, a financial structure is envisioned to provide guarantees to investors (GCF, CAF) and project implementers (private sector) and the State itself (as public policy governing body).
The second component will enable the implementation of climate-smart practices and technologies, under principles of inclusive, eco-efficient and economically profitable production in the existing Agricultural Production Units (UPAs) on the islands (approximately 5,000 hectares) including technical assistance for agricultural producers and technicians.
The third component relates to the resilience of island ecosystems and protected areas, and will provide for the evaluation and updating of the Protected Areas Management Plan and, if necessary, the Invasive Species Management Plan. In addition, the plan includes building the climate change response capacity of institutions such as the Galapagos National Park Directorate and the Galapagos Biosecurity Agency.
Finally, the fourth component calls for establishing a “Center of Excellence for Training in Climate Adaptation Management of Island and Marine-Coastal Systems,” as a platform to leverage the knowledge generation capacity in Galapagos and use it to enhance the responsiveness of Galapagos and Ecuador’s institutions, with a view to replicating the model in other Latin American countries, small islands and island states worldwide. This center of excellence will also serve as an innovation platform to manage, integrate, process and disseminate vital information to improve the responsiveness of institutions and individuals for adaptation to climate change. This forum is fundamental in face of the paradigm shift to be implemented both at grassroot level and in government agencies and the private sector, and is expected to train human resources in public and private institutions.
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