The Blue Natural Capital Financing Facility awards € 718,778 to three winning project proposals
In response to a Call for Proposals for coastal Nature-based Solutions and green-gray infrastructure projects, the Blue Natural Capital Financing Facility (BNCFF) in collaboration with Conservation International received entries for projects located in 14 different countries, from 17 NGOs and 11 private enterprises. This outcome is indicative of the growing interest of project developers to respond to the critical need for climate-resilient coastal infrastructure around the world in the face extreme weather events that are increasing in frequency and intensity.
Three noteworthy winners were selected by a Grants Approval Committee: these project developers will receive funding and technical support to conduct feasibility assessments, develop financial models, identify scalability, and get their proposals ready for implementation and future private sector finance – adding to the international portfolio of credible, high impact and investment-ready blue natural capital projects.
The winners are composed of both NGOs and private enterprises that are well connected with other civil society organizations and community groups within their respective territories. Projects will be executed as part of broader consortia and partners. As the pressure to ramp up climate change adaptation increases, an estimated USD 94 trillion in global infrastructure investment is needed by 2040. Nature-based Solutions and coastal green-gray infrastructure present a way to fill this infrastructure gap, and will be especially beneficial to those in emerging economies where this gap is most pronounced and they are most vulnerable to the growing negative impacts of climate change.
With the recent uptake of Nature-based Solutions throughout the globe, the experience and expertise of the BNCFF in advancing financially viable coastal climate resilience projects will help drive investment towards a more sustainable future for both people and planet. This has been made possible by the commitment of the International Union for Conservation of Nature (IUCN) and support from Government of the Grand Duchy of Luxembourg.
We’d like to thank all those who sent proposals and particularly congratulate the winners as we move forward together with them.
How BNCFF will help
Blue Indigo Foundation
Green-grey hybrid coral reef solution at San Andrés Island to provide a protective buffer to infrastructure – including a public road, commercial and residential properties on the coastline.
Funding will be provided by BNCFF for project preparation efforts, covering the costs of a coral reef nursery and a green-gray hybrid restoration pilot, for undertaking environmental, economic and social cost-benefit analyses and developing a strong financing strategy to attract private sector finance.
Jan de Nul
Feasibility assessment for a potential pilot project on reclaiming 50 hectares of mangrove habitat in the Gulf of Guayaquil, Ecuador, through the circular reuse of dredged material. The pilot project will integrate nature-based solutions in climate mitigation and adaptation strategies in coastal environments, and will also focus on socio-economic and biodiversity challenges.
This approach is the first of its kind in South America. This new concept will be thoroughly investigated during this project, starting from the case of Ecuador and paving the way for further upscaling possibilities in the region.
With the support of BNCFF funding, the project will support the demonstration of the proof of concept and the implementation of the pilot project, while also assessing potential long-term revenue streams. The project will also look into governance and financial assessments, local community and stakeholder engagement. Through this feasibility assessment and the pilot project, collaboration will be demonstrated between governments, NGOs, scientists, businesses and local communities, to solve climate and environmental challenges.
Ridge to Reefs
Pilot test of a nature-based wastewater management system in the state of Airai that combines a septic system with a bioreactor garden and vegetative leach field to reduce nitrogen pollution that is damaging coastal ecosystems in Palau.
BNCFF will provide support to defining the project’s financial model and scalability strategy, assessing the effectiveness and cost structure of the proposed bioreactor model versus the current and future strategies for on-site wastewater management in Palau.
What is the BNCFF?
The Blue Natural Capital Financing Facility supports the development of sound, investable Blue Natural Capital (BNC) projects with clear ecosystem service benefits, based on multiple income streams and appropriate risk-return profiles.
BNCFF is excited to start work with these three projects, all of which were selected during a rigorous Call for Proposals process with the ultimate decision on which projects to fund being made by a Grants Approval Committee.
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