19 Nov 2018 - The Lab has opened its call for proposals for the 2019 cycle, seeking innovative financial ideas that can unlock investment to tackle some of the most difficult climate and sustainable development challenges. Understanding the importance of blue carbon in addressing climate change, this year Lab has a special call for ideas that targets blue carbon in coastal and marine ecosystems, along with three other priority sectors: sustainable agriculture for smallholders in West & Central Africa, sustainable cities, and sustainable energy access.
Blue carbon, or the carbon stored by the world's oceans and coastal ecosystems, plays a significant role in both climate mitigation and adaptation. When degraded or destroyed, ocean ecosystems emit the carbon they have stored for into the atmosphere and oceans and become sources of emissions they previously sequestered. In addition, healthy marine ecosystems improve extreme weather and climate resilience for coastal areas, and improved livelihoods for vulnerable communities.
Marine ecosystem restoration has been funded almost exclusively by limited public or philanthropic investment, though the introduction of innovative approaches that catalyze private sector investment in marine ecosystem conservation and restoration will be crucial in achieving Sustainable Development Goal 14, and creating a viable market for blue carbon investment. This year, with support from Australia’s Department of Foreign Affairs & Trade, the Lab is seeking innovative financing solutions that can drive private investment in coastal ecosystems around the world.
The deadline to submit an idea is December 19, 2018. Selected ideas will receive guidance and support from high-level leaders from both the public and private sectors, who contribute expertise, political capital, and financial capital to the instruments. Selected ideas will also benefit from robust analysis, stress-testing, and development by Climate Policy Initiative’s team of experts. Since 2014, the Lab has helped launch 35 instruments that have collectively mobilized $1.38 billion to date. Interested parties can learn more and submit their idea at www.climatefinancelab.org.