Developing a Framework for Coastal and Marine Ecosystem Services

Counterpart / Lead agency

Institute of Marine Affairs

Objective

The project aims to develop an innovative financing framework to sustain and regenerate Trinidad and Tobago’s coastal and marine ecosystems, initially prioritizing sandy beach and dune habitats. It will support climate resilience and biodiversity conservation by engaging private-sector actors, strengthening policy frameworks, and advancing nature-based solutions that value ecosystem services. The work is expected to establish a biodiversity-credit mechanism through ecosystem valuation, regulatory design, pilot testing, and capacity building.

Expected results

The project is expected to create the evidence, rules, and practical capacity needed to test biodiversity-credit financing for priority turtle-nesting beaches. Planned work would assess ecosystem value and market demand, develop enabling policy, simulate transactions, and prepare stakeholders for potential future scaling.

1. Market valuation and feasibility. Valuation and feasibility assessments are expected to quantify ecosystem services at Grande Riviere and Matura, test buyer demand and pricing, assess financial risks and transaction options, and produce an investment prospectus for market interest.
2. Regulatory and policy framework. A legal review and stakeholder consultation are expected to inform a draft national regulatory framework, policy implementation roadmap, and biodiversity-finance Green Paper, defining governance, institutional responsibilities, and requirements for issuing, trading, and retiring credits.
3. Pilot and institutional capacity. A pilot blueprint and market simulation are expected to test credit issuance, sale, and verification, supported by buyer engagement and transaction documents. Training for at least 30 stakeholders, reusable knowledge products, and an international knowledge exchange would strengthen future management capacity.

Beneficiaries

Direct beneficiaries are the Institute of Marine Affairs, Ministry of Planning and Development, Environmental Management Authority, community organizations around nesting beaches, and private-sector participants. Coastal communities may benefit indirectly through stronger conservation finance, resilient ecosystems, and sustainable tourism livelihoods.