GRAN CANARIA, Spain – The Virgin Islands will officially launch the Climate Change Trust Fund at the upcoming Global Sustainable Islands Summit in Gran Canaria next week, marking the transition of the Fund into its operational phase and its readiness to begin financing climate resilience projects.
During a dedicated session on 21 April, the Virgin Islands delegation, including deputy premier and minister for environment, natural resources and climate change, Julian Fraser, RA, will formally launch the Fund.
The Virgin Islands Climate Change Trust Fund (VICCTF) is a legally established financing mechanism designed to meet the highest international standards. Its mandate is to mobilise and deliver funding for climate resilience in the Territory, and is positioned to serve other Overseas Territories in the Caribbean. It forms part of The Virgin Islands’ broader commitment to advancing practical solutions to the impacts of climate change and strengthening long-term environmental and economic resilience.
Overseas Territories like the Virgin Islands face structural barriers to accessing major international climate finance mechanisms, including the Green Climate Fund and the new Loss and Damage Fund, creating a persistent gap between available funding and local needs. The VICCTF has been established to address this challenge by providing a practical, credible pathway to mobilise, manage and deploy climate finance at the local level.
Deputy premier and minister for environment, natural resources and climate change, Julian Fraser, RA, said:
“The launch of the Virgin Islands Climate Change Trust Fund represents a defining step in strengthening our Territory’s resilience to the impacts of climate change. For too long, small island territories have faced barriers in accessing the financing needed to protect our communities, infrastructure and natural resources. This Fund is our commitment to changing that reality, by creating a credible, transparent and locally driven mechanism to mobilise and deliver climate finance where it is needed most. We are not only investing in our own future, but also positioning the Virgin Islands to support and lead collaborative solutions for other island territories facing similar challenges.”
The Launch marks a critical transition from concept to implementation, as the Trust Fund moves into full operational delivery. With seed funding in excess of USD $5.5. million secured through the local Environmental Levy, the appointment of its first chief executive officer, Chamberlain Emmanuel (formerly of the Organisation of Eastern Caribbean States Commission), and the establishment of its Secretariat, the Fund will be positioned to actively mobilise and deploy climate finance for resilience projects that strengthen infrastructure, protect natural ecosystems, and support communities in preparing for, responding to, and recovering from climate-related impacts.
Commenting on the Launch, Chamberlain Emmanuel, said:
“The Launch of The Virgin Islands Climate Change Trust Fund at the Global Sustainable Islands Summit will be the moment where vision becomes action. The Trust Fund will be operational, resourced, and ready to deliver tangible impact-supporting climate resilience locally, positioning to deliver at scale regionally, while serving as a model for island nations globally.”
The initiative reflects growing momentum following deliberations at COP30 in Belém, where the concept of strengthened national climate financing mechanisms for small island states gained increased international attention and where the Trust Fund hosted a number of sensitisation events in preparation of its official Launch.
Implementation and Outlook Following its international launch, the Trust Fund will move towards issuing its first calls for proposals later this year, supporting climate resilience projects across priority sectors including infrastructure, coastal protection, the environment and renewable energy.
Alongside its domestic mandate, the Trust Fund is expected to contribute to broader regional efforts to improve coordination and access to climate finance for Overseas Territories and island jurisdictions.
VICCTF represents a practical financing mechanism designed to translate climate ambition into implementable, funded action, with potential to serve as a model and vehicle for other island contexts facing similar barriers.