Environmental Finance Enabling Framework to accelerate SDGs in Cuba.
The protection and preservation of the environment is one of the Cuban State priorities. However, the country has not yet succeeded in harnessing environmental finance opportunities at national and global levels due to existing knowledge, regulatory and institutional gaps. As a result, current mobilization of resources to implement actions required within the Environment and Natural Resources Macro-program is insufficient. The joint programme will help authoritiies to establish an articulated inter-institutional mechanism for dialogue, coordination, definition and articulation of actions aimed at mobilizing and channeling resources for biodiversity and climate change adaptation under a coherent framework.
Three expected outcomes have been determined, requiring a combined-approach strategy. First, a comprehensive diagnostic will contribute to identify existing gaps and take them into account in the new regulations and methodologies to be designed for the planning, management and mobilization of resources of environmental finance in Cuba. Following, an environmental finance roadmap and plan of action will provide the means to integrate environmental finance into national policies and to implement the inter-institutional mechanism, increasing the availability of financial resources and coherent channeling to priority sectors. The introduction of an environmental microfinance plan and the implementation of at least one additional solution for biodiversity conservation and climate change adaptation and mitigation in two intervention sites, will contribute to validate the solutions proposed and evaluate its potential gradual scale-up in order to enhance mobilization of additional resources for Cuba. The Joint Programme constitutes a potential accelerating factor for the accomplishment of SDGs in terms of capacity building, mobilization of resources and consistent policy, institutional and regulatory frameworks while also mainstreaming gender equality.
Ministry of Science,Technology and Environment