SeaTrees has announced the launch of the first Marine Biodiversity Credits at COP16, in Cali, Colombia.
The new project aims to deal with the issue of properly directing conservation funding by using a block allocation model.
Only 4% of conservation and restoration funding is allocated to marine ecosystems. Clearly, this is not sufficient, and steps need to be taken to remedy this due to the important role of marine ecosystems.
SeaTrees Marine Biodiversity Blocks is an innovative funding model designed to funnel critical funding toward marine ecosystems. The first three blocks are as follows:
- Kenyan mangrove forest
- A kelp forest off Sydney’s coast
- A Fijian coral reef.
According to SeaTrees Co-Founder Michael Stewart:
“Ocean-based projects like kelp and mangrove restoration are in high demand and extremely effective for coastal protection, habitat, and carbon sequestration, yet support for them hasn’t met their outsized role in our planetary emergency.
“The SeaTrees biodiversity funding model enhances our ability to direct resources to where they’re needed most, with transparent, real-world results.”
While SeaTrees fellow Co-Founder Kevin Whilden added:
“Biodiversity Blocks are an evolution in crediting and conservation. They allow those of us working in restoration and protection to focus on the full ecosystem, not just carbon capture. We hope this model offers a pathway to restoring balance and ensuring ecosystems continue to support life on Earth.”
You can find out more about SeaTrees here.