Virgin Islands Climate Change Trust Fund launched at Global Sustainable Islands Summit in Gran Canaria, marking new era in climate finance innovation for islands

The Virgin Islands Climate Change Trust Fund was officially launched at the Global Sustainable Islands Summit in Gran Canaria, unveiling a landmark initiative designed to reshape how small island territories access and manage climate finance. Until now, no Overseas Territory had established a dedicated, legally constituted climate finance trust fund of this kind designed to directly bridge the gap between global climate finance and local implementation.

The launch positioned the Virgin Islands Climate Change Trust Fund (VICCTF) as a locally governed mechanism designed to mobilise and deliver funding for climate resilience, particularly in jurisdictions that face structural barriers to accessing international climate finance.

The VICCTF is the first dedicated climate finance trust fund mechanism established within a UK Overseas Territory, positioning The Virgin Islands as a pioneer in locally governed climate finance delivery. The model is designed not only to meet domestic resilience needs, but also to serve as a scalable and replicable framework for other small island developing states and territories facing similar structural barriers in accessing international climate finance.

The Virgin Islands’ delegation, including Deputy Premier and Minister for Environment, Natural Resources and Climate Change, Hon. Julian Fraser, RA, formally launched the Fund during a dedicated session, alongside contributions from Climate Envoy, Dr. Kedrick Pickering, as well as a technical presentation by CEO Chamberlain Emmanuel who outlined the Fund’s design, operational model and financing approach.

The event was livestreamed to a global audience, extending the reach beyond the summit and engaging stakeholders across regions in real time. The launch included a ceremonial handover of a traditional Virgin Islands sloop model, underscoring the Territory’s commitment to translating climate ambition into tangible action. The Trust Fund’s new branding and updated website (www.vicctf.org) was also unveiled, further marking its formal public-facing launch. Visitors to the VICCTF’s exhibition booth were also able to navigate the website’s impact map showcasing projects aligned with The Virgin Island’s Climate Change Policy, and to autograph the commemorative, hand-crafted tapestry of the new logo.

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.

Describing the initiative as a transformational step in the Territory’s climate strategy, Deputy Premier Julian Fraser stated:

"There are moments in the history of every country that defines and shapes its future; the launch of the Virgin Islands Climate Change Trust Fund is one of those moments for The Virgin Islands.”

He continued: "It is a trusted credible bridge to connect innovative sources of indigenous and international climate finance with local priority projects to build our resilience and transition to a lower carbon economy.”

VICCTF CEO Chamberlain Emmanuel emphasised both the Fund’s operating model and its readiness to engage global partners, stating:

"It is not just a trust fund. It is an ecosystem. It’s an entire mechanism ecosystem that pulls in the capacity of multiple institutions at all levels”. Chamberlain continued: "We are a legally established, independent, operationalised entity and ready to do business with you.”

Following its international launch, the Trust Fund will undertake a series of local engagements across The Virgin Islands to connect stakeholders, including government, private sector, civil society and academia, and eligible registered associations, with funding opportunities and implementation pathways.

About VICCTF:

Official Video | Partnership Endorsement Video | www.vicctf.org 

About GSIS:

The Global Sustainable Islands Summit, hosted by Island Innovation is an international platform designed to strengthen coordination between island governments, institutions, and implementation partners. It focuses on supporting the translation of policy priorities into deliverable projects by aligning expertise, finance, and governance systems across sectors and regions.