Evaluation and Learning: Saint Lucia’s Experience in Private Sector Participation in Response to Climate Change

Saint Lucia

Dates : 2017-2018

Project leader: Climate Investment Funds (CIF)

Classification

Risks

Solutions

Actors

Costs

Summary

The Climate Investment Funds’ initiative in Saint Lucia captures the lessons learned from Private Sector Participation in the Pilot Programme for Climate Resilience (PPCR) and other relevant initiatives in the country. The idea is to facilitate transformational change in the Private Sector towards increasing Private Sector investment in and response to climate change.

Actions

The CIF initiative in Saint Lucia captures the lessons learned from Private Sector Participation in the Pilot Programme for Climate Resilience (PPCR) and other relevant initiatives in the country. In order to promote Private Sector investment in and response to climate change, the project entails the: 

  •  Assessment of what knowledge is available to the Private Sector in Saint Lucia to facilitate participation and identify the pathways and barriers to accessing this knowledge. 
  • Evaluation of the extent to which the Private Sector in Saint Lucia has participated in PPCR and other relevant initiatives. 
  • Assessment of the policy and regulatory environment that the Saint Lucia Private Sector operates in and how this impacts participation and engagement in climate change adaptation projects and initiatives. 
  • Determination of valuable lessons learned under the PPCR and other relevant initiatives, towards improving Private Sector participation in building climate resilience in Saint Lucia.

Subsequently to these evaluations, the CIF proposed a roadmap aimed at providing recommendations to enhance the enabling conditions and build requisite capacities over the medium-to-long term for the private sector to be streamlined into Saint Lucia’s climate change adaptation and resilience building. These recommendations covered three broad areas: governance, financing and the socio-economic environment.

Outcomes

CIF’s initiative provided an understanding of how climate change impacts private sector incentives, activities, and markets in Saint Lucia. In turn, it enabled a better insight of the overall economic effects of climate change, as much as the opportunities offered for targeted responses to build resilience. 

Private sector stakeholders are heterogeneous and operate with varying rationalities. Yet, the constraints they face are common to a large extent. Therefore, having supporting schemes can contribute to empower them as agents of change, which over time, will continually shift the paradigm towards transformative change.

Partners

Financial partners: CIF

Resources

CIF website – Saint Lucia profile: https://www.climateinvestmentfunds.org/country/st-lucia