Description of project

CANARI is continuing its work to promote and support the process of transformation to environmentally sustainable, inclusive and resilient economic development in the Caribbean.  Micro, small and medium enterprises (MSMEs) were identified as a key pathway in this transformation but require enhanced support.  This project builds on earlier collaborative work with the Green Economy Coalition (GEC), of which it is a member, and looks specifically at how to enhance financing and other support to Local Green-Blue Enterprises (LGEs).  LGEs are informal or formal MSMEs which have a potential positive effect on the global or local environment, community, society, or economy, and are striving to meet triple bottom line returns (economic, environmental and social).  This global project is led by GEC and funded by the European Union (DCI/ENV/2020/417-985). CANARI is coordinating implementation in Trinidad and Tobago (T&T).

Within the broader project, CANARI’s work will continue to focus attention on how nature-based micro-enterprises can be more effectively supported, given that these are key in the Caribbean economy, particularly for the rural poor and marginalised, but are highly vulnerable to climate change and other threats.  The project will support local and national dialogues to convene LGEs and support agencies and partners (from the civil society, public and private sectors) and their networks at local, sector and national levels and connect their perspectives into policy dialogues with governments to address key constraints to investments and promote good governance.  See here for the project summary.

Highlights:

  • Development of the Contextual Financial Analysis (CFA) is currently underway to better understand the context, needs and opportunities for enhancing support to LGEs in T&T.

Key activities and results:

1.       Conduct Contextual Financial Analysis (CFA)

CANARI will review of the financial landscape and document laws, policies, regulations, practices and key stakeholders and initiatives.  The CFA will be developed via desk reviews, interviews and focus groups with key stakeholders. The report produced will provide the foundation for stakeholders to identify signature issues facing LGEs in Trinidad and Tobago.

2.       Convene dialogues

Dialogues will include:

  • Defining and mapping signature issues: CANARI will host a national workshop with key stakeholders to analyse findings of the CFA to identify signature issues and recommendations for engagement with LGEs, policy makers and support agencies on how to enhance financing and other support to LGEs. The workshop will also raise awareness on overall progress towards a sustainable, inclusive and resilient economy through discussion on the Trinidad and Tobago Green Economy Tracker.
  • Building action learning alliances and LGE finance reform policy platforms: CANARI will re-convene and expand the Trinidad and Tobago Small and Micro Enterprise Action Learning Group (TT SME ALG) established in 2017. CANARI will also re-convene and expand the Caribbean Green Economy Action Learning Group (GE ALG) established in 2012 as an independent group of experts from academia, civil society, government and key regional and regional organisations across the Caribbean.
  • Supporting stakeholder actions and local, national and regional dialogue to initiate action: Members of the two ALGs and other stakeholders will be engaged through local, national and regional dialogues that bring together LGEs, business associations, civil society organisations and networks, local activists, policymakers, financial institutions, investors and support agencies. They will explore the signature issues facing LGEs in Trinidad and Tobago, identify and test solutions and identify policy recommendations.
  • Generating and communicating evidence: Learning generated by the ALGs will be documented and communicated, including via CANARI’s online knowledge hub (https://hub.canari.org/) and targeted communication to policy-makers.

3.       Make evidence-based policy recommendations

CANARI and the ALGs will seek opportunities to input recommendations into policy processes at the regional and national levels in the Caribbean.  CANARI will also input into development of global LGE finance policy reform synthesis reports and policy advocacy work led by Finance Watch, including knowledge sharing across countries and participation in global sustainable finance events.

4.       Develop the global GEC network

CANARI will collaborate with other GEC members to explore strengthening and expansion of the network.

Publications

Written case studies

Recent news and blogs:

Coming soon

Related publications:

For more information please contact Nicole Leotaud at [email protected]

See related work under CANARI’s Green Economy and Rural Livelihoods programmes.

Photo: Grande Riviere Chocolate Company (GRCC) booth at an event in Trinidad and Tobago. Credit: GRCC