Date: 30 May 2024
Time: 8:00-9:30am EST
Location: Room 8, American University of Antigua, (American University of Antigua, Jabberwock Rd, Osbourn, Antigua & Barbuda)
This is a UNEP side event at the 4th International Conference on Small Island Developing States.
Event Overview:
With 52% of its portfolio in Small Island Developing States (SIDS) and Least Developed Countries (LDCs), the Global Fund for Coral Reefs (GFCR) is pioneering innovative approaches to sustainable blue & green transition with an emphasis on scaling up and replicating successful ocean-positive solutions. As SIDS move towards their next Decade of Action (post-SAMOA), the event entitled "Blended Finance for Blue/Green Transition in SIDS – Showcasing Global Fund for Coral Reefs Solutions," co-organised by the UN Development Programme (UNDP), UN Environment Programme (UNEP), and UN Capital Development Fund (UNCDF), will confirm GFCR’s commitment to scaling its support to SIDS and accelerating sustainable development through blended finance approaches over the next decade.
This side event aims to create a dialogue on reef ecosystems. It will showcase GFCR-supported ‘reef-positive solutions’ that include businesses and initiatives that have a positive impact on coral reef health while providing sustainable benefits for local communities, addressing local drivers of coral reef degradation in diverse sectors such coral restoration, integrating finance into marine spatial planning and sustainable finance mechanisms for Marine Protected Areas (MPAs). By unlocking sustainable conservation funding flows and transitioning coastal communities away from harmful activities, these enterprises can achieve triple bottom line returns.
The session will invite panelists to share practical experience of their reef-positive solutions from four regions, providing applicable lessons for SIDS. Panelists will discuss challenges and opportunities in building a bankable pipeline of projects; and show how government support through policy action is crucial for success.
