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The Climate Change Trust Fund Act

legislation type Legislative
Passed in 2010
This is intended as the government's quick-start domestic response to climate change adaptation activities, which are planned through the BCCSAP. As such this Act is closely linked to the BCCSAP. It stipulates allocating an initial budget of USD100m per year for three years between 2009 and 2011. It stipulates that 66% of its budget will be spent on the implementation of projects/programmes prioritised in the BCCSAP. The remaining 34% will be main-tained as a deposit for emergencies. Interest accrued on the deposit will be spent on project imple-mentation. Funds from the BCCTF can be used to finance public sector and non-government projects. It is not mandatory to spend the total grant within a given financial year. As of 2014, the Trust Fund is still operational, with US26m (approximately) allocated in the 2014/15 fiscal year.

from the Grantham Research Institute
from the Grantham Research Institute
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