Implemented by Blue Finance
About
As part of the upscaling of a ten-year EbA initiative, the project builds a portfolio of investment-ready businesses and projects to support building climate-resilient livelihoods for the communities of Marine Protected Area (MPA) networks in the Philippines Verde Island Passage and Calamian Islands. The project generates investment incentives through a Blue Economy Investment Facility. By strengthening food security and incomes for coastal communities and supporting more vibrant coral reefs, the project benefits 65 MPAs and 76,000 ha of coral reef and marine biodiversity, with an estimated 1,800,000 direct and indirect beneficiaries. By building the capacity of civil society and government to collaborate with the private sector on future EbA initiatives, and documenting these case studies, this project also contributes to building the evidence base for the potential of the private sector for investing in EbA as a part of climate adaptation strategies.
Project start date: February 2022
Duration: 22 months
Cohort: 1st (April 2021 cutoff)
Award: US$222,560
Project Status
The project began with a pilot site in North Oriental Mindoro, The Philippines, where Blue Finance signed long-term co-management agreements for a network of MPAs. These agreements are between local governments, local community partners and the co-management entity, Blue Alliance, a Blue Finance sister company. New MPAs have been declared in Puerto Galera and a process to extend existing ones has started in Calapan.
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Header Image: © Ocean Image Bank / Gregory Piper; Footer Image: © UNEP
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