Countries on Africa's west coast are increasingly turning to climate funding initiatives to boost livelihoods of oceanside communities, aid biodiversity, and take climate action, the AP reports.
On the margins of the high-level political forum on sustainable development currently underway at the United Nations headquarters in New York, African coastal and island states and conservation groups outlined plans to boost ocean conservation and economic development through a system of "' blue bonds'a method of financing projects that would also benefit ocean health.
The Great Blue Wall initiative, launched last year by 10 western Indian Ocean states during the UN's climate conference in Glasgow, aims to create a network of coastal and marine protected areas which supporters say would restore and conserve some 2 million hectares of ocean, capture 100 million tons of carbon dioxide, and secure livelihoods for over 70 million people.
The project spans the continent's west coastfrom Somalia to South Africaand includes the island states of Comoros, Madagascar, Mauritius, Seychelles, Somalia, and the French territories, Mayotte and Reunion.
Jean-Paul Adam, who heads the climate division at the UN, says the blue wall initiative would recognize "the true value the environment has in future wealth creation and empowerment of local communities."
Adam says less than 1% of so-
A customized collection of grant news from foundations and the federal government from around the Web.
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.