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SOLUTIONS FOR THE OCEAN / THE BLUE ECONOMY
Mackerel fishermen on a beach in the Seychelles.
© Jason Houston - The Nature Conservancy
THE KENYAN COAST.
A SUCCESSFUL EXAMPLE OF THE BLUE
ECONOMY
"A coalition between financial institutions,
philanthropy, and Governments, the Global Fund
for Coral Reefs is a 10-year, 625 million dollar
blended finance instrument with the goal to
finance innovative business models that increase
the resilience of coral reefs and the communities
that depend on them. A regional programme in
Kenya and Tanzania is among the first projects
supported by the new fund, the first one dedicated
to Sustainable Development Goal 14. This funding
has the potential to be transformative for local
communities”, noted Leticia Carvalho, coordinator
of UNEP’s marine and freshwater section in Kenya.
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THE SEYCHELLES, A LEADER IN MARINE
CONSERVATION
The Seychelles have developed innovative and
local tools to reconcile conservation with fair
economic development. One of these tools is
the development plan for the Seychelles ocean
space, prepared with The Nature Conservancy
and UNDP, the centre piece of which is the
restructuring of the Seychelles’ debt in exchange
for the designation of 30% of its exclusive
economic area (1.4 million km ) as a marine
2
protected area. The debt-for-nature exchange
will fund climate change adaptation through
the management of coasts, coral reefs and
mangroves.
In 2018, the Seychelles also launched the world’s
first sovereign blue bond to support sustainable
fisheries and develop the blue economy, whilst
at the same time extending marine protected
areas.
Lamu Old Town Waterfront in Kenya,
Unesco World Heritage Site.
©Javarman - stock.adobe.com