The Blue Carbon Accelerator Fund (BCAF) is launching its BCAF Readiness Support Call for Proposals, aiming to increasing the global supply of investment-ready blue carbon restoration projects.
Coastal blue carbon ecosystems are attracting high interest from the private sector, including businesses seeking to offset their emissions through carbon credits or to meet corporate social responsibility goals, philanthropic funders looking to contribute to biodiversity and livelihood outcomes, investors interested in coastal resilience, and local businesses gaining revenue from blue carbon credits on top of financial profits from fishing and nature tourism.
Coastal blue carbon ecosystems are environments that support mangroves, tidal marshes and seagrasses. They play a crucial role in CO2 removal and long-term storage of carbon. They also provide significant benefits for biodiversity, supporting livelihoods and protecting shorelines.
What are we funding?
Readiness Support provides funding for early-phase design, set-up, and implementation of coastal blue carbon projects in developing countries. Projects must demonstrate a clear path to entering the carbon markets and to deliver positive habitat outcomes, as well as supporting local livelihoods.
Funding is available to non-governmental organisations (NGOs) and private sector entities for project activities such as:
- Coastal blue carbon project feasibility assessments, including related scientific work
- Coastal blue carbon area management plans
- Environmental and social impact assessments
- Financial and economic analysis of projects, including accounting
- Legal, technical and commercial consultancies
- Blue carbon business planning
- Stakeholder mappings and engagement
- Preparation of regulatory filings and related public processes
- Project monitoring and implementation planning.
Deadline and funding guidelines
Full eligibility and selection criteria, and information on how to prepare and submit a proposal are accessible in the Readiness Support funding guidelines. Deadline for the applications is 15 May 2022.
The BCAF will be selecting projects under a total available budget of AUD $1.6 million with maximum funding of AUD $240,000 per project.