SeyCCAT is on track with its UN voluntary commitment

The Seychelles’ Conservation and Climate Adaptation Trust (SeyCCAT) was selected by the Sherpas of the Community of Ocean Action on sustainable blue economy to provide an update on SeyCCAT’s UN voluntary commitment undertaken in 2017 at the UN Ocean Conference in New York at the Meeting of the Communities of Ocean Action: “From commitments to action: Implementing SDG 14” on 30th May 2019 in Incheon, Republic of Korea.

Chief Executive, Pouponneau, indicated that SeyCCAT is on track and is certain that by the end of 2019 SeyCCAT will live up to its commitment and disburse US$ 750 000 towards Seychellois beneficiaries to advance the sustainable blue economy. So far, SeyCCAT has disbursed a total of US$660 883.57 and 14 of the 18 projects funded are research which will enable evidence-based decision-making to ensure the systematic transformation into informed policies and promote a sustainable blue economy.

In 2017, when SeyCCAT made the voluntary commitment, it was only capitalised from proceeds from the debt-swap arrangement. In 2018, the Government of Seychelles with partial guarantees by the World Bank and a concessional loan from the Global Environment Facility issued a US$ 15 million blue bond to advance sustainable fisheries. SeyCCAT now has the available funds to disburse US$ 750 000 per year compared to the US$ 250 000 in 2017. Although funds were available in 2018, uptake was slow so we learned that it is critical for investment in capacity-development and education, and working with  artisanal fishers, the small business and the young or female entrepreneur, i.e the people critical to the transition. In 2019, SeyCCAT learned that supporting the ultimate beneficiaries are critical. We invested in a strong targeted communications strategy that involved sitting with artisanal fishers at the end of their work day, not only to explain the opportunity but to also, engage them on understanding their views and their role on ensuring sustainable fisheries. This year was the first year, applicants could apply in their native language and SeyCCAT’s partners provided 2-day capacity-building workshop to complete its application forms and for the first time translated our application form into the native tongue of our applicants. The one aspect that we are currently thinking through has been this request from younger beneficiaries seeking to have mentorship and support alongside the financing.

Due to these front-end investment in people this year, the requested amount for funding from SeyCCAT is approximately, US$ 2.5 million whilst we are only in a position to disburse US$ 1 million (as a result of unused funds from 2018).  Lesson learned is that critical community and private sector buy-in to deliver on our voluntary commitment but the challenge of providing more finance is evident.

SeyCCAT is keen to scale up our commitment and continue to invest in Seychelles’ blue future. She called for partners and mentors who would like to carry out work in the Seychelles.

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