The Virgin Islands Climate Change Trust Fund will officially be launched internationally this November at the UN Climate Change Conference. Photo: Internet Source

Ms Angela Burnett Penn, Climate Change Officer in the Ministry of the Environment, Natural Resources, and Climate Change, said while the Virgin Islands Climate Change Trust Fund was established years ago, it now time to operationalise it. Photo: GIS

The UN Climate Change Conference takes place from November 10 to 21, 2025, in Belém, Brazil. Photo: Internet Source

This announcement was made by Ms Angela Burnett Penn, Climate Change Officer in the Ministry of the Environment, Natural Resources, and Climate Change. 

Speaking at the Town Hall Meeting for the Road Town Partnership project on Wednesday, July 2, 2025, Ms Burnett Penn indicated that although the fund was established several years ago under The Virgin Islands Climate Change Trust Fund Act of 2015, now is the time to operationalise it, bringing the fund to life. 

International climate financing

She explained, “Essentially, the purpose of the fund is to raise international sources of climate finance from various avenues, whether they be bilateral funds from countries, independent donors, charity organisations, or philanthropists.”

She also said there are several innovative market mechanisms, such as blue bonds and carbon credits, that could potentially serve as funding sources. 

“The goal is to blend these funds to support local efforts to adapt to climate change and transition to renewable energy.” 

Ms Burnett Penn highlighted that funds received by the trust would support projects under the Road Town partnership, as long as they are connected to climate change. She mentioned examples of initiatives that could help reduce flood risks in the capital and mitigate the impact of sargassum and more. 

Road Town Partnership to benefit from the trust

She commended the government and the Premier for providing seed capital to the fund. Forty per cent of the Environmental and Tourism Improvement Fund, derived from a $10 levy, has now been dedicated to the trust fund, which will serve as the initial capital to launch the fund and support initial projects. 

“Who knows, some of the projects under the Road Town initiative may be immediately supported by the trust fund. We will be launching the fund internationally at this year’s UN Climate Change Conference in November, hoping it will attract initial donors from the international community,” she added. 

The fund is working towards blended finance, which would include support from the local private sector. 

“The trust fund will provide a secure and transparent mechanism through which these funds can flow and be reinvested in projects specifically related to Road Town.”