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Traditional Economy – subsistence but sustainable: Characterized by being:

The Circular Economy: CARILED project – a comparative study from the OECS Presented by Felix Finisterre, OECS Sub-regional Coordinator 4 th June, 2015. Traditional Economy – subsistence but sustainable: Characterized by being:

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Traditional Economy – subsistence but sustainable: Characterized by being:

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  1. The Circular Economy: CARILED project – a comparative study from the OECSPresented by Felix Finisterre, OECS Sub-regional Coordinator4th June, 2015

  2. Traditional Economy – subsistence but sustainable: Characterized by being: • Sustainable & Community-based (Coup-de-main, lend-a-hand, maroon, gyap) • Common property (forests, beaches & marine resources, grazing lands for animals, • Family enterprises (absence of tenure to land Subsistence economies dependent upon the sustainable exploitation and utilization of natural resources • Logging (timber for shelter, burial, commerce) • Farming (family kitchen gardens, market crops) • Fishing • Charcoal • Boat building • Furniture making • Small trades/services

  3. Economic transition – ecological impacts • Historicaldependence on mono-crop/primaryproduct (sugarcane, bananas) • Seriousecological – clearing of slopes for banana cultivation • Negatiuve impact of globalization & tradeliberalization – loss of market protection • Result in devastationn of the rural economy – unemployemnt, migration, illicitcrops, viz. ganja

  4. Shrinking of the public sector – loss of the PSIP All states of the OECS grouping face fiscal challenges – widening revenue/expenditure gap & debt trap: • cut back/reduction in social programs • expressions of desire - reduce size of public sector • shrinking of the PSIP (capital works) • state initiated temporary employment programs (NICE, NEP)

  5. The idea of the Circular Economy – old wine in new bottles? • “Green economy,” “Sustainable production and consumption”. Two of the many sobriquets to describe an approach to development that is: • People-centred • Ecologically sensitive • Dependent on renewable sources of clean energy • Seeks to recycle as opposed to increasing waste

  6. Local in LED means… • Optimizing local resources and local capacities to build local potential • Driving forces are economic stakeholders in the communities, municipalities and cities • Shared benefits are reaped by the community in working together • While focused on local, there are links to the regional, national and international levels

  7. Economicin LED refers to… • Seizing business opportunities - effectively utilisinglabour, capital & other resources to achieve local priorities. • Supporting entrepreneurial initiatives (formal or informal, micro or large) • Facilitating market access & creating a climate conducive to investment & business • Improved facilities to serve the collective interests of the local communities

  8. Development in LED means… • Economic activities should help to protect the environment and quality of life • Strengthening local business to achieve sustainability goals • Holistic view of LED, covering not only the economic but also the social, politico-administrative and cultural aspects Sustainable development is at the heart of LED

  9. ✔Who are the stakholders? (Make sure private sector is there!) Results! Results! (How to monitor and evaluate, Adjust the LED Action Plan) Is you community Business-Friendly and Competitive? ✔Local Economic Profile, Value Chain Analysis ✔LED vision, goal, objectives and actions (Agribusiness? Tourism? Others? Need to consider Gender Equality, Environmental Sustainability and Poverty Reduction!) Focusing and prioritizing (Are LED actions market-driven? What are quick wins? What can be learned from other experiences?)

  10. Guiding Principles • Holistic approach – social, environmental, economic • Based on a shared vision • A range of initiatives: short, medium and long-term to build partnerships and confidence • Involve local champions – bring commitment, credibility, ability to unite stakeholders • Includes capacity building of management/implementing teams • A participatory approach - Owned by multi stakeholders • Integrated approach to monitoring and evaluation

  11. SustainableLED…….LED is Sustainable if: • It is market-driven, gender-sensitive and environmentally sound and economically viable • Contributes to poverty reduction • Follows participatory, inclusive processes that enable collaboration among LGUs, Private Sector, Civil Society and local communities in decision- making and management • Promotes cooperation and partnerships as well as responsibility and accountability in behavior and relationships

  12. Caribbean Local Economic Development • Six-year US$25 million targeting all CARICOM member states: Belize, Dominica, Grenada, Guyana, Jamaica, Saint Lucia and Trinidad/Tobago • The project in funded by the Canadian Government, Dept of Foreign Affairs, Trade and Development • And is implemented by the Federation of Canadian Municipalities (FCM)

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