Backgrounder: Canada’s new funding to protect and restore ocean ecosystems in developing countries
Canada has announced $69.5 million in climate financing for 4 projects that is being distributed as follows:
Partnering for Climate: Regenerative Seascapes for People, Climate and Nature
$30 million for fiscal year 2022 to 2023 to fiscal year 2025 to 2026
This project will support the establishment of a network of sustainable seascapes that will help enhance the climate and socioeconomic resilience of coastal communities in Kenya, Tanzania, Mozambique, Comoros and Madagascar.
Partnering for Climate: Natur’ELLES
SOCODEVI (Société de coopération pour le développement international [international development cooperation corporation])
$20 million for fiscal year 2022 to 2023 to fiscal year 2025 2026
This project will enable the adoption of nature-based solutions to help conserve mangrove ecosystems, enhance climate resiliency and biodiversity, and support inclusive and equitable governance of the natural resources of mangrove systems in Senegal.
Partnering for Climate: Conservation and Sustainable Management of Coastal and Marine Ecosystems (COSME)
$16.5 million for fiscal year 2022 to 2023 to fiscal year 2025 to 2026
This project seeks to improve sustainability for women in the blue economy who depend on healthy oceans for their livelihoods. The project also aims to improve coastal management in Kenya by supporting communities in restoring and conserving mangroves, sustainably farming seaweed, and managing and conserving forests.
Nature-Based Solutions for Climate Adaptation: Monitoring and Impact project
International Union for the Conservation of Nature (IUCN)
$3 million for fiscal year 2022 to 2023 to fiscal year 2025 to 2026
This project seeks to increase the number of best practices and the knowledge and capacities related to nature-based solutions of the implementing partners of Canada’s nature-positive climate finance programming in developing countries. Canada’s contribution will support gender-responsive nature-based solutions project design, implementation and monitoring; climate change vulnerability and biodiversity assessments and monitoring systems; implementation of corrective actions in projects; tracking of and reporting on the progress of Canada’s nature-based solutions and biodiversity portfolio; and wide sharing of tools and lessons to nature-based solutions practitioners and other stakeholders.
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