Fourth International Workshop on Bridging the Gap between Ocean Acidification Impacts and Economic Valuation
Bf participated in the fourth International Workshop on Bridging the Gap between Ocean Acidification Impacts and Economic Valuation in Monaco 15-17 October. The theme of the workshop was From Sciences to Solutions: Ocean Acidification Impacts on Ecosystem Services – Case Studies on Coral Reefs. The workshop combined keynote presentations from experts in the field, with working groups which were divided along oceans lines: Red Sea, Indian Ocean and SE Asia, French Pacific Islands, Australia, Caribbean and West Atlantic and Non French Pacific Islands. Each group was charged with developing papers on regional solutions for acidification. Bf´s work is not only on sustainable financing, but also improving management and conservation of coral reef ecosystems. The workshop helped to strengthen Bf´s work on coral reef resilience in the face of climate change. Solutions developed here will be considered in our project areas.
The Latin American and Caribbean Network of Environmental Funds – RedLAC
Bf presented its Caribbean projects at the 19th Assembly held October 30th in Punta Cana. Founded in 1999, RedLAC is the Latin American and Caribbean Network of Environmental Funds. With a current membership of 21 Trust Funds from 17 countries in the region, RedLAC serves as a knowledge and cooperation platform oriented to innovation in financial mechanisms for biodiversity conservation and sustainable development.
The 19th RedLAC Assembly in the Dominican Republic was co-hosted by three members: the Caribbean Biodiversity Fund (CBF), Fondo MARENA and Fundación Sur Futuro. It focused on the Blue Economy as a key theme, and also showcased solutions and discussed challenges that affect all types of ecosystems and financial needs.
Bf has been charged with developing factsheets for the International Coral Reef Initiative (ICRI) on the value of ecosystem services provided by coral reefs, sea grass beds and mangroves. These ecosystems provide a wide range of benefits which are fundamental to the well-being of people (coastal and island communities in particular) who depend on coral reefs and other marine and coastal ecosystems for food, protection and livelihoods. Globally, they are essential to Sustainable Development, and have been found to support 10 out of the 17 SDGs, in addition to the dedicated ocean goal.
Economists have undertaken many economic valuations of these services, or of specific areas’ total economic value which are highly useful for raising awareness, making informed trade-off planning decisions or setting fees for damage compensation. The process of deriving a value also generates a deeper understanding of which benefits are being generated by ecosystems, and who is benefits from them.
Bf and partners which include GRID- Arendal and CRIOBE, is developing short and reliable facts on social and economic benefits of coral reefs and associated ecosystems, the value of these benefits, and concrete examples of how these can be communicated and incorporated in planning processes for local environmental officers, NGOs and media.
Duke Environmental Law & Policy Forum (DELPF)
Bf presented at the fall symposium titled “Rethinking Ocean Conservation: Technology and Law in Action” which focused on new ocean conservation strategies. Three expert led panels: 1. Current ocean challenges 2. Bright spots within ocean conservation and 3. New conservation strategies that use new technologies, policies and laws, as well as a series of smaller breakout sessions for further discussion of the panel topics between the panelists and attendees were hosted. The Blue finance project was one of the new conservation strategies presented in panel 3.
Coalition for Private Investment in Conservation CPIC
Bf has joined the Coalition for Private Investment in Conservation (CPIC) which is “a global multi-stakeholder initiative focused on enabling conditions that support a material increase in private, return-seeking investment in conservation.” Their mission includes utilizing blueprints which would facilitate the scaling up of conservation investments, which is fully in line with the aims of Bf projects. BF will develop a blueprint on the PPP approach for marine conservation.
 Neumann, C., T. Bryan, L. Pendleton, A. Kaup, J. Glavan (eds). 2015. The Ocean and Us. AGEDI/GRID-Arendal