Virgin Islands Charts New Path for Climate Finance at COP30 with 2026 Trust Fund Launch on the Horizon

The Government of the Virgin Islands, a British Overseas Territory in the Caribbean, successfully hosted a series of high-level climate finance side events at the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30). Held on November 13–14, 2025, at the CARICOM Pavilion and convened in partnership with the Caribbean Community Climate Change Centre (CCCCC), the events highlighted the Virgin Islands Climate Change Trust Fund (VICCTF). They presented the territory’s emerging model for innovative climate financing.

The VICCTF is legally established as an independent, permanent, nationally-owned financial mechanism aligned with international fiduciary standards and global frameworks, including the Paris Agreement and the 2030 Agenda for Sustainable Development. It is designed to mobilise, manage, and disburse climate finance for adaptation and mitigation priorities outlined in The Virgin Islands Climate Change Policy. The Fund will initially support national resilience efforts, with opportunities for regionalisation across key sectors, including the environment, agriculture, fisheries, tourism, insurance and banking, human health, critical infrastructure, water resources, human settlements, and energy. Its governance is anchored in stringent fiduciary standards, environmental and social safeguards, and a commitment to inclusive, sustainable development.

The establishment of the VICCTF marks a defining moment for the Virgin Islands. As a small island British Overseas Territory that remains unable to access major global climate finance mechanisms such as the Green Climate Fund and the Adaptation Fund, the territory faces significant barriers to sourcing the investment needed for climate resilience. The Trust Fund therefore offers a critically important, locally-driven pathway to secure and deploy climate finance for the long-term protection of the territory’s people, economy, and natural environment.

Chamberlain Emmanuel, Head of the OECS Environmental Sustainability Division, in his address to the gathering, described the moment as pivotal for the wider region. He emphasised that for the region to move forward together, it must strengthen clarity of purpose, build capacity through partnerships, and deepen collaboration across all Member States. Emmanuel noted that clarity is essential not only in global forums but also within the Virgin Islands itself, ensuring shared understanding of the Trust Fund’s vision, ambition, and national impact. He also highlighted the importance of leveraging capacity through partnerships with institutions such as the Caribbean Development Bank (CDB), the Caribbean Community Climate Change Centre (CCCCC), and the Green Climate Fund, as well as drawing on expertise at the national level. Collaboration, he stressed, has long been a cornerstone of the region’s success, referencing regional initiatives such as pooled pharmaceutical procurement, which have delivered millions in savings through collective action. Emmanuel emphasised that the innovation demonstrated through the VICCTF provides a powerful model for the region’s non-independent territories and has the potential to unlock greater access to finance and resilient prosperity across the OECS.

Chamberlain Emmanuel, Head, OECS Environmental Sustainability DivisionDr. Kedrick Pickering, Climate Envoy for the Premier and former Minister of Natural Resources and Labour, BVIDr. Colin Young, Executive Director, Caribbean Community Climate Change CentreAngela Burnett Penn, Director, Ministry of Environment, Natural Resources and Climate Change, Government of The Virgin Islands

Dr. Ronald Smith-Berkeley, Permanent Secretary, Ministry of Environment, Natural Resources and Climate Change, Government of The Virgin Islands, seated to Diann Black-Layne Director/Ambassador at Government of Antigua and BarbudaDiann Black-Layne Director/Ambassador at Government of Antigua and Barbuda

Dr. Kedrick Pickering, Climate Envoy for the Premier and former Minister of Natural Resources and Labour of the Virgin Islands, provided a historical perspective that underscored why the VICCTF is essential to the future of the Virgin Islands. “Our environment is our life,” he stated. “If tourism is our breadbasket, then ninety percent of the people who visit the Virgin Islands come to enjoy our environment.” Dr. Pickering recounted the territory’s longstanding leadership in environmental stewardship, from the Rockefeller legacy and the establishment of the National Parks Trust to the Caribbean Challenge Initiative and the introduction of modern environmental, fisheries, and conservation legislation. He noted that the Trust Fund is already being capitalised through the environmental levy, which has raised over US$5.5 million to date, demonstrating the country’s strong commitment to funding its own resilience. He stated that the territory has advanced as far as it can with its own resources and is now seeking support to access major global climate finance opportunities. Pointing to emerging mechanisms such as carbon bonds, debt-for-nature swaps, and the monetisation of seagrass ecosystems valued at trillions globally, he underscored that the VICCTF provides the legal and institutional structure needed to absorb and effectively manage external climate finance. “We have done our part,” he said. “We now need our regional and international partners to help us take the next steps.”

Adding a complementary perspective, Diann Black-Layne, Director and Ambassador of the Department of Environment of Antigua and Barbuda, reflected on the practical considerations of building and managing a successful national climate fund. Drawing on her country’s experience establishing a similar model and securing over US$50 million in accredited financing within just a few years, she advised that the strength of a climate fund lies in its discipline, focus, and operational readiness. She cautioned that the scope of the fund must be tightly managed, noting that spreading resources too thin risks compromising impact and credibility. She encouraged the Virgin Islands to define a clear business model tailored to local realities and to design initiatives that deliver a balance between immediate impact and long-term sustainability. Black-Layne also emphasised the importance of strong internal systems, including manuals, procedures, complaint mechanisms, and legal safeguards. She highlighted the need for staff retention, adequate training, and project designs that teams genuinely enjoy implementing. Managing expectations, particularly from political leadership, was another key lesson she shared, underscoring the importance of establishing clear processes from the outset to avoid reputational risks and operational bottlenecks. Her reflections offered a pragmatic roadmap for strengthening the VICCTF’s effectiveness and long-term sustainability.

Across all interventions at COP30, speakers underscored the urgency and opportunity of climate finance for small island territories and reaffirmed a shared commitment to advancing innovative, resilient, and nationally-owned solutions. The OECS and regional partners reiterated their strong support for the Virgin Islands as it moves toward the full operationalisation and launch of the Virgin Islands Climate Change Trust Fund in 2026.

For more information on the VICCTF, visit: https://www.vicctf.org