BLUE FINANCE DEVELOPS SOLUTIONS FOR MANAGEMENT OF MARINE PROTECTED AREAS
Blue finance is a social entreprise with expertise and a track record in establishing blended finance solutions for 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.
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’).
Collaborative management of MPAs with non-profit partners (NGOs and community groups) leveraging sound business models for revenue generation are proven vehicles through which this challenge of ‘paper parks’ can be addressed. 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.
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.