Blue Carbon Project

The Fi Wi Riif programme will support the development of blue carbon projects in the Seaflower Biosphere Reserve, in order to restore and protect coastal and marine ecosystems, and to provide additional resources to local communities in the Archipelago. The potential for blue carbon has already been studied in the region and Colombia has the legal framework and an established domestic compliance carbon market to support this. Revenues generated through the selling of blue carbon credits could also feed the Seaflower Fund and the Fi Wi Riif Investment Account, for supporting MPA conservation and reef-positive businesses.

In Phase I, the programme supported initial stakeholder consultations, activities to leverage co-finance for the prefeasibility study and support policy work. In the next phases of the programme, the required studies for blue carbon projects will be developed.