At CBD COP16 in Cali, Colombia, Ocean Risk and Resilience Action Alliance was delighted to unveil five innovative new projects that are being supported by the UK’s Department for Environment, Food and Rural Affairs.
Each project will further ORRAA’s mission of building the resilience and adaptive capacity of coastal and ocean ecosystems and the coastal communities that rely on them through the development of finance or insurance products.
Learn more about these pioneering initiatives:
- Tanzania and Kenya – Aqua-Farms Organization (AFO) and Mawimbi Ocean Innovations have developed The Africa Fair Seaweed Facility, to build resilience for 25,000 East African seaweed farmers with sustainable technologies, with access to capital and markets through an innovative blended finance model, in Kenya and Tanzania. (Read more here)
- Tanzania – WWF-UK is piloting an innovative approach to financing sustainable blue economy enterprises in Tanzania’s Rufiji-Mafia-Kilwa (RUMAKI) Seascape, by combining different revenue streams to support conservation and livelihoods for coastal communities, scaling investment and ensuring long-term environmental and economic resilience. (Read more here)
- Dominican Republic – CI-Atabey Foundation is pioneering the Dominican Republic’s Blue Carbon Exchange, with the goal of protecting 10,300 hectares of mangroves, sequestering up to 1,131 Mg/ha of carbon, and building the resilience of over 480,000 coastal residents. (Read more here)
- Global – Nautilus, the Blue Guarantee Company, being developed by The Development Guarantee Group and the Ocean Risk and Resilience Acton Alliance (ORRAA), will de-risk regenerative and sustainable blue economy sector investments through the provision of guarantees. (Read more here)