SLUNCF to Announce a New Private Sector Partnership

SLUNCF to Announce a New Private Sector Partnership

The Saint Lucia National Conservation Fund will be officially launching a major new private sector partnership at a brief ceremony on 28th July 2022.

This new partnership is intended to generate more funding support for some of Saint Lucia’s national conservation priorities including the creation of sustainable livelihoods and climate change mitigation and adaptation.

Through a partnership agreement with Wayaj Inc, a private entity which provides innovative and effective solutions to the hospitality industry to reduce its impact on the environment, the SLUNCF has made significant progress towards implementing two innovative and exciting initiatives, a Carbon Offset Project and a Sustainability Actions Projects (SAP) program.

Carbon Offsetting contributes to the global goal of reducing carbon emissions by either supporting projects that decrease emissions production or removes emissions from the atmosphere, including increasing the capacity of natural ecosystems to process or absorb Carbon Dioxide (CO 2) emissions.

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These programs are intended to compensate for the emissions of carbon dioxide into the atmosphere as a result of industrial or other human activity especially through the burning of fossil fuels.

Projects which involve restoration/ rehabilitation of mangroves, seagrass meadows or terrestrial forests usually qualify as carbon offsetting activities given these resources are highly effective at absorbing CO 2 from the atmosphere.

In this vein, the SLUNCF is on course to implementing Saint Lucia’s first (as well as in the OECS) Carbon Offset project which is aimed at restoring a critical mangrove forest along the northeast coast.

The Saint Lucia National Conservation Fund is working with other local agencies including the Department of Forestry to help design and deliver the project which is at its final stages of development.

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