A new publication by CSF helps to unpack the role of Blue Carbon ecosystems such as mangroves, seagrass and salt marshes in Sri Lanka in combating climate change, and how Blue Carbon projects can be leveraged to finance coastal ecosystem conservation. This latest Knowledge Primer on Blue Carbon, follows similar primers published during 2023 and 2024 on topics like Debt for Nature Swaps, Blue Bonds, and Conservation Trust Funds.
There is a lot of recent buzz about blue carbon schemes especially after the carbon market deal on the first day of COP 29, and they are gaining attention as a means of serving the dual benefit of climate mitigation and coastal conservation. The balancing act of navigating the challenges and the potential benefits was unpacked in a recent article titled, “Is COP29’s Carbon Markets Deal a Climate Lifeline or Coastal sell out?”.
For island nations like Sri Lanka, heavily reliant on the ocean and blessed with extensive coastal ecosystems, blue carbon markets present an opportunity to monetize the carbon capture potential of our rich marine ecosystems, while achieving national climate goals, contributing to global climate mitigation efforts, and attracting much needed finance for conservation.
This latest Knowledge Primer explains these aspects, reviews the international mechanisms that guide blue carbon markets, and puts forward key considerations for Sri Lanka in implementing blue carbon schemes. While there is significant potential for Blue Carbon to be considered as a powerful tool in mitigating the climate crisis and raising much-needed conservation and climate finance, global frameworks, guidelines and initiatives need to align to ensure that resources, communities and stakeholders are incorporated into planning processes. Sri Lanka must be aware of the risks and also know how to structure meaningful and impactful projects.
