The initiative, which was announced at a TED talk in Vancouver today, is based on delivering Blue Bonds to up to 20 countries over the next five years. The international environmental non-profit organisation hopes that these will help ensure the new protection of up to 1.5 million square miles of the world’s most biodiversity-critical ocean habitats – a 15 percent increase in the amount of protected ocean that currently exists. The Blue Bonds scheme aims to increase the amount of protected ocean by 15 percent The plan, which was selected from more than 1,500 Audacious Project applicants, has already secured more than $23 million in funding from various donors out of the $40 million TNC ultimately requires to unlock $1.6 billion toward marine conservation. How does it work? If a coastal or island nation commits to protecting at least 30 percent of its near-shore ocean areas – including coral reefs, mangroves, fish spawning sites and other important ocean habitats – TNC helps restructure a portion of the nation’s sovereign debt, leading to lower interest rates and longer repayment periods, and supports ongoing conservation work such as improving fisheries management and reducing pollution. TNC’s scientists then create a marine spatial […]
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