A Blue Carbon Mediterranean Focused Feasibility Assessment

In January 2023, Blue Pangolin Consulting, in collaboration with Blue Seeds, signed a contract with the International Union for Conservation of Nature (IUCN) under the IUCN Centre for Mediterranean Cooperation to undertake a feasibility study and stakeholder consultation to guide The Blue Carbon Accelerator Fund (BCAF) for blue carbon projects in the Mediterranean.

The project will ensure the development of thorough and relevant Funding Guidelines and eligibility criteria for BCAF blue carbon projects, identifying gaps, obstacles, solutions and opportunities for blue carbon ecosystem conservation and restoration as well as blue carbon project development, financing and certification in the Southern and Eastern Mediterranean region and the Balkan Peninsula.

This project has five central activities:

• To identify key stakeholders, relevant countries and regions to within the Mediterranean to support blue carbon projects
• To conduct stakeholder consultations focusing on biophysical and economic analyses, policy and mechanisms for carbon management, and the status of current projects within the Mediterranean
• To identify possible opportunities for Calls for Proposals through BCAF
• To organise a virtual workshop with IUCN and Principality of Monaco to present and test the outcomes of the feasibility assessment
• To aid in the development of new BCAF funding guidelines

This contract will see close coordination with leading marine conservation organisations, pan-Mediterranean initiatives and stakeholders throughout the region.