PREVIOUS
✖
Ocean Coordination Mechanism
February 4 , 2025
10 hrs 0 min
32
0
- It was announced by the Intergovernmental Oceanographic Commission of the UNESCO with focus on the Caribbean and the North Brazil shelf.
- These areas are rich in biodiversity, their coral reefs and fisheries support local economies, contributing about $610 million each year.
- The North Brazil Shelf was classified as a Large Marine Ecosystem.
- It is home to over 500 fish species and acts as a natural barrier against storms.
- It has secured an initial $15 million investment from the Global Environment Facility through the UNDP/GEF PROCARIBE+ Project.
- The initiative has also benefited from a substantial co-financing total of $126.02 million facilitated by the GEF.
- The other such initiative – Global Fund for Coral Reefs - has raised around $225 million to date and aims to leverage up to $3 billion by 2030.
Leave a Reply
Your Comment is awaiting moderation.