Representatives of Republic Bank and Saint Lucia National Conservation Fund hold the cheque symbolising the bank’s donation.
CASTRIES, St. Lucia--On Wednesday, June 21, Republic Bank (EC) Limited announced a groundbreaking partnership with the Saint Lucia National Conservation Fund SLUNCF to support the conservation and sustainability of ecosystems and species within St. Lucia, according to a press release. The press announcement took place at the Harbor Club in Rodney Bay.
The Republic Bank Sustainability Fund – Saint Lucia, through which the Bank has pledged a sum of XCD 750,000 to the partnership over a five-year period under its Corporate Social Responsibility Programme – The Power to Make A Difference (PMAD), will serve as the medium for financing projects that focus on conservation, sustainability and protection of St. Lucia's ecosystems and species, the release states.
Over the next five years, the partnership will focus on supporting projects that conserve, protect and maintain biological diversity and natural resources in St. Lucia, starting with Biodiversity Protection and Sustainability of Livelihoods for 2023. Each year, Republic Bank and the SLUNCF will jointly select projects that have a significant positive impact on the natural environment, with the aim of financing them through the Fund.
At the press announcement, Republic Bank (EC) Limited’s Managing Director Michelle Palmer remarked, “Through our joint efforts, we are poised to contribute to safeguarding St. Lucia's stunning natural beauty, its rich biodiversity and its invaluable cultural heritage.” She added, “At Republic, we take our corporate social responsibility seriously. The Power to Make Difference programme is a testament to that commitment.”
Republic Bank has been working towards its 2020 promise to align with the Paris Agreement, the United Nations Environment Programme Finance Initiative (UNEP FI) and the Sustainable Development Goals (SDGs). It has emerged as a frontrunner in promoting environmental responsibility, being the only Caribbean-domiciled financial signatory to the UNEP FI Principles for Responsible Banking and a founding member of the UN-convened Net Zero Banking Alliance, according to the release. Republic Bank has set ambitious climate finance goals and established resilient infrastructure across the 14 territories in which it operates, the release adds. The bank's PMAD initiative, formally launched last year in the Organisation for Eastern Caribbean States (OECS), showcases its strong commitment to corporate social responsibility in the region.
According to SLUNCF’s Chairwoman Karolin Troubetzkoy, “The partnership between Republic Bank and SLUNCF is a natural fit, as both organisations share a common purpose: to promote and preserve St. Lucia's natural resources and biodiversity.” She added, “Equally important for both SLUNCF and Republic Bank is reaching out to our communities and working closely with them in an effort to build capacities for the creation of sustainable livelihoods.”
The SLUNCF will be responsible for awarding grants from the Fund while also ensuring effective project monitoring, management and assessment in accordance with its Grant-making Framework (Sub-Grant Policy and Procedures), the release states.
In his remarks, SLUNCF’s Chief Executive Officer Craig Henry stated, “This collaboration makes possible invaluable and strategic investments to support sustainability within our local community.”
While this partnership is limited to projects within St. Lucia, the scope of projects considered will align with principles of environmental sustainability, natural resource management, livelihood development, climate change and human capacity building. For this year, focus will be on projects that support improved food security, sustainable livelihoods, biodiversity protection and nature-based solutions in St. Lucia.
Eligible applicants for funding include government agencies, registered local non-governmental organisations (NGOs), community-based organisations, private businesses, local community associations, local universities or colleges and other appropriate local entities of St. Lucia.
To submit a project for consideration, interested parties are to respond to the upcoming Call for Proposals from the SLUNCF, which will be publicly announced on July 3. The application details, submission process and timeline will be made available on this date on SLUNCF's and Republic Bank's websites at
www.sluncf.org and
www.republicbankstlucia.com/pmad, respectively, the release concludes.
