BLUE FINANCE DEVELOPS SOLUTIONS FOR MANAGEMENT OF MARINE PROTECTED AREAS
Blue finance is a social enterprise with expertise and a track record in management and sustainable financing of Marine Protected Areas (MPAs).
Blue finance’s objective is to improve the management of at least twenty MPAs by 2030.
Our approach relies on a proven concept of co-management lease for MPAs with tangible revenue models, leveraged by blended finance and empowering local communities.
Blue finance works with Governments, local stakeholders, donors and investors to design, finance and implement joint partnerships and blended finance solutions for the collaborative management of MPAs.
• One of the largest MPAs in the Caribbean (the SE Coral Reef Marine Sanctuary in the Dominican Republic) is under a long term management lease with local partners and Blue finance as lessees (more details).
• The Dominican Republic MPA protects 800,000 ha of coral reef ecosystems, benefits 60,000 households and supports 5,000 artisanal fishers (more details).
• 5 other MPAs have relevant works already underway in the Caribbean, South East Asia and Sub-Saharan Africa (total 1,400,000 ha of coral reef ecosystems) (more details).
• US$3M have been structured as blended finance for Dominican Republic MPA and other US$9M are committed with donors, development banks and impact investors for other MPA projects.
• Innovative Public-Private Partnership concept developed for leveraging blended finance for MPAs (more details).
When properly managed and financed, MPAs restore marine habitats and fish populations, generate food and incomes from sustainable fisheries for local communities, create job opportunities in tourism and other blue economy sectors, enhance shoreline protection and provide greater resilience to climate change.
Our projects contribute to SDGs nº14 (‘life below water’), nº1 (‘end poverty’), nº8 (‘decent work’) and nº13 (‘climate action’) as a priority.
RATIONALE & CHALLENGE:
Well managed and financed MPAs are considered to be among the most effective tools for reducing local threats on marine biodiversity. Yet MPAs face a broad range of challenges with >60% reporting inadequate budgets for basic management. As a result, many MPAs fail to meet their social and ecological objectives, existing only on paper (‘paper parks’).