Marine Habitat Regeneration
With Blue Carbon Markets
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The report emphasises the importance of blue carbon ecosystems, like mangroves and seagrasses, in carbon sequestration, coastal protection, and biodiversity. It promotes blue carbon credits to incentivize their conservation and restoration.
The report emphasises the importance of blue carbon ecosystems, like mangroves and seagrasses, in carbon sequestration, coastal protection, and biodiversity. It promotes blue carbon credits to incentivize their conservation and restoration.
Key Highlights
Key Highlights
Importance of Blue Carbon Ecosystems
The report underscores the vital role of marine habitats, such as mangroves, salt marshes, and seagrasses, in capturing and storing carbon. These "blue carbon" ecosystems not only contribute significantly to carbon sequestration but also support ecosystem health.
Multiple Environmental Benefits
Beyond carbon storage, these marine ecosystems provide critical environmental services, such as coastal protection from storms and erosion, supporting biodiversity, and acting as nurseries for important fish species, which in turn enhances fisheries.
Threat of Degradation
The report highlights that the degradation of blue carbon ecosystems, often due to human activities, results in the release of stored carbon, contributing to global climate change. This degradation releases an estimated 0.2 to 0.24 gigatons of CO2e annually, comparable to 3-19% of global deforestation.
Carbon Storage Efficiency
Blue carbon ecosystems are highly efficient at storing carbon, with their soils sequestering over 20 times more carbon than terrestrial soils. Seagrass, for instance, buries carbon 35 times faster than tropical forests, making them crucial in the fight against climate change.
Blue Carbon Credits
The report introduces blue carbon credits as a financial mechanism that incentivizes the conservation and restoration of coastal ecosystems. These credits are issued through verified projects and represent the amount of carbon dioxide removed from the atmosphere by these ecosystems. Each credit corresponds to one tonne of CO2 equivalent.
Market Dynamics and Growth Potential
Blue carbon credits are in high demand as companies seek to meet their net-zero pledges and diversify their carbon credit portfolios. These credits often come with price premiums, driven by their perceived quality and limited supply. In 2022, blue carbon credits were sold for an average of $13 to $35 per credit, higher than the average for forestry credits.
Several blue carbon projects around the world, such as those in Pakistan, Senegal, and the UAE, demonstrate the potential impact of these initiatives. These projects not only generate carbon credits but also deliver co-benefits like biodiversity protection, community support, and economic growth through ecotourism and enhanced fisheries.
Positive Economic and Social Impact
Thriving blue carbon ecosystems provide significant benefits for local communities. They boost tourism revenue, create jobs, protect coastal areas from storms and erosion, and support local fisheries. Additionally, these projects are appealing to impact investors due to their competitive returns and positive social impacts.
Government and Financial Institution Support
Governments are encouraged to develop national blue carbon policies that attract investment, contribute to climate action, and support sustainable financing of blue carbon projects. Financial institutions can play a key role by offering purchase agreements, providing upfront financing, and promoting nature-based solutions in coastal infrastructure projects.
Policy Frameworks and Strategic Implementation
The report outlines the need for clear policy design, stakeholder engagement, and capacity building to support blue carbon projects. A comprehensive approach to project implementation, monitoring, and integration with broader climate and development strategies is essential for long-term success. Governments, NGOs, and the private sector are urged to collaborate on establishing these frameworks.
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