Terra Global is structuring a project to conserve > 16,000ha of mangrove forests on the Zanzibar islands of Pemba and Unguja. Grants from the BNCFF are used to sustainably manage vast REDD+ forest areas owned by communities. This requires strong local engagement and identification of additional livelihood opportunities.
This project is not new and considerable work has already been done on the ground and on verifying carbon credits. Yet, liquidity bottlenecks have halted essential processes leading to financial viability which is where the BNCFF comes in. It bridges the financial gap until securing a carbon investor who will generate profits from blue carbon credits to be sold on the voluntary market under the VCS program.