Dear ORRAA Members and Friends,
The heart of our mission is building the resilience of climate vulnerable coastal people. This is what drives us every day.
We call it the Beachfront.
And a key part of the solution is engaging the Boardroom. Please take a few minutes to watch this video which tells a story of the brilliant projects we are backing in Kenya and Tanzania. It is part of our overall drive to develop an investable product pipeline.
As many of you are aware, this quarter has been dominated by key convenings, including the Our Ocean Conference in Busan, the Blue Economy and Finance Forum (BEFF), and the Third UN Ocean Conference (UNOC3). This is truly an Ocean Super Year, and across these milestones, we’ve seen our Alliance in action to build a capital market for the Ocean.
See more on ORRAA’s engagement at the BEFF and UNOC3 in our Special Edition Bulletin here.
We are now at the halfway point of the year and the halfway point of the decade. We have taken stock of our progress so far and here are the key highlights of our action to date:
- We have deployed USD$20.1m of grants into 50 projects in 30 countries, helping support the resilience of over 340,000 climate vulnerable coastal people and protected and conserved more than 600,000 hectares of coastal habitat.
- 29 finance and insurance products have been developed, 15 of which will have been taken to market by the end of 2025.
- We have leveraged over USD$65m of additional finance – that means that for every USD$1 we have activated a further USD$3.25 of investment.
- Including the SCIFF instruments, ORRAA has activated USD$116.7m of investment in the past four years.
- We now have over 120 members across the finance, insurance, government, and civil society sectors.
It is clear the Ocean is in peril, but the window for action is still open if we act fast. In the short term we must use the momentum of the last few weeks to springboard into the second half of the year. The UNFCCC climate COP30 is on the horizon, and we will continue to highlight the importance of investing in the Ocean as living capital.
As always, if you have any questions or would like to set up a call to catch up with the team, please do let us know.
Karen & the ORRAA team
