Developing a framework for coastal and marine ecosystem services in Trinidad and Tobago

The Inter-American Development Bank (IDB), in close coordination with the Institute of Marine Affairs (IMA) of Trinidad and Tobago, invites consulting firms to submit proposals to establish a scientific and economic baseline for a national biodiversity credit mechanism, assess market feasibility, and design the legal, regulatory, and policy frameworks required to operationalize private conservation financing.

1. Ecosystem services valuation & ecological baseline
Priority site valuation: Conduct economic valuation and baseline assessments for leatherback turtle nesting sites at Grande Riviere and Matura, digitizing and integrating ten years of historical NGO and agency data.

Valuation methodology: Quantify monetary contributions to tourism, coastal protection (storm surge resilience), and biodiversity support using standard environmental economics while implementing safeguards against double-counting.

Credit-unit framework: Formulate a credit-unit calculation methodology grounded in measurable ecological outcomes (e.g., nesting access, hatchling success, threat reduction, sargassum management) rather than raw nesting counts, incorporating community livelihood consultations.

2. Market demand, risk analysis & investment prospectus
Market feasibility assessment: Analyze demand across tourism, energy, financial, and corporate sectors with ESG obligations, distinguishing compliance buyers from financial return investors.

Risk analysis & pricing thresholds: Determine optimal credit pricing thresholds and risk-return profiles by analyzing market volatility, regulatory risks, and operational/verification exposures.

Investment Prospectus: Synthesize valuation, market, and risk data into an investor-ready Biodiversity Credit Investment Prospectus to attract private ESG capital.

3. Legal framework, policy roadmap & Green Paper
Gap analysis & legal review: Review the Environmental Management Act, Forests Act (Prohibited Areas), and related legislation to identify legal barriers and recommend statutory amendments for credit trading.

Regulatory design & safeguards: Draft a National Regulatory Framework defining credit legal nature, verification standards, additionality, credit ownership/transfer rules, and alignment with the Marine Spatial Plan (MSP) and NBSAP. Establish strict safeguards ensuring credits cannot substitute for legal compliance or offset critical nesting habitats.

Policy Implementation Roadmap & Green Paper: Prepare a Green Paper on biodiversity finance, facilitate national public consultations (town halls), and consolidate feedback into a final Cabinet Submission Package alongside an institutional roadmap.

Note: Interested consulting firms must review the requirements on the BEO Bidders Portal.