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(f) Coastal Vulnerability and Risk Assessment.
Three countries (Barbados, Grenada, and Guyana) have agreed to participate in the development of vulnerability and risk assessments for their coastal areas. The component will begin with a review of coastal vulnerability assessment models and the application of the IPCC common methodology in these three countries and throughout the region. With the execution of the three vulnerability and risk assessments, representatives from these three countries will receive special training, and information will be transferred throughout all the agencies dealing with coastal zone management issues. A regional workshop will be held to present the results of the three case studies to the entire region. Manuals will be prepared for the execution of coastal vulnerability and risk assessments, and a public awareness and education program will be conducted to raise the level of public consciousness concerning the vulnerability of coastal areas.

(g) Economic Valuation of Coastal and Marine Resources.
This component will include the design and implementation of pilot studies in the Commonwealth of Dominica, Saint Lucia, and the Republic of Trinidad and Tobago on the economic valuation of resources in selected coastal ecosystems at risk from sea level rise. Each of the three pilot studies will focus on an ecosystem and associated economic activities. Using existing information and input from other project components, the pilot studies will identify resources of significance, resource uses, and threats from sea level rise. Each pilot study will then use alternative approaches to estimate market and non-market values of resources at risk. The pilot studies will illustrate the use of valuation data, in some cases by demonstrating the development of environmental accounts with linkages to national accounting frameworks, in others by demonstrating cost-benefit and other decision-making frameworks for selecting among environmental management approaches. Capacity-building activities under this component will include the training of regional and local personnel in the use of alternative resource valuation strategies, the development of environmental accounts, and cost-benefit analysis. In addition, the results of the pilot studies will be used to develop and disseminate appropriate techniques for use throughout the region.

(h) Formulation of Economic/Regulatory Proposals.
This component will implement two pilot studies in Antigua and Barbuda and Saint Kitts and Nevis to demonstrate the design and use of economic and regulatory approaches to environmental protection in response to threats from sea level rise. The component will demonstrate how innovative approaches to environmental regulation, such as the use of economic incentives, can provide flexible, cost-effective alternatives to traditional "command and control" regulatory policies. In addition, the two pilot studies will address methods for generating funds to finance other programs aimed at mitigating the impacts of global climate change. Under this component, local and regional personnel will be trained in the design of economic-based regulations and other innovative approaches for coastal and marine management, as well as in program finance for environmental management. The results of the pilot studies will be used to develop training materials for use in regional workshops and will serve as input for the development of a region-wide policy framework.

(i) Enabling the preparation of national Communication in Response to Commitments to the UNFCCC.
This component will enable St. Vincent and the Grenadines to prepare its initial national communication to the United Nations Framework Convention on Climate Change (UNFCCC). This component has the following elements: start-up activities; establishment of an Information Network and a Web Site; preparation of a report on national circumstances; preparation of green house gases (GHG) inventory following the guidelines adopted by the UNFCCC; planning for adaptation to global climate change, concentrating on impacts on coastal areas and agricultural and water supply sectors; and preparation of the Initial National Communication to UNFCCC.




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