Marine Climate Finance & Markets
Creation of new finance, markets, products, jobs and incentives for marine-climate initiatives. Includes: 1) Marine climate finance through generation of new funds, financial and insurance products and funding alliances to increase funding allocations to climate adaptation, mitigation and reparation; 2) Creation of blue carbon markets via generation of credits based on carbon sequestration potential of blue carbon ecosystems that have been restored or conserved. Credits are sold to industries to offset their emissions; and 3) Creation of blue carbon products which includes interventions that create and market new low-carbon products.
These types of interventions pose a range of risks and challenges. Resources exist to help identify and address these.
Useful resources
Dencer-Brown, M. et al. 2022. Integrating blue: How do we make nationally determined contributions work for both blue carbon and local coastal communities? Ambio 51: 1978-1993.
Johannessen, S. C. & Christian, J. R. 2023. Why blue carbon cannot truly offset fossil fuel emissions. Communications Earth & Environment 4: 411.
Kuwae, T. et al. 2022. Implementation of blue carbon offset crediting for seagrass meadows, macroalgal beds, and macroalgae farming in Japan. Marine Policy 138: 104996.
Shumway, N. et al. 2018. The risks and opportunities of translating terrestrial biodiversity offsets to the marine realm. BioScience 68: 125-133.
WEF et al. 2022. High-Quality Blue Carbon Principles and Guidance: A Triple-Benefit Investment for People, Nature, and Climate.
More resources can be found under ‘Marine and Coastal Restoration’ interventions.