Washington, D.C., November 21, 2023 - The World Bank said in a new report that preserving and restoring blue carbon ecosystems, such as mangroves, seagrasses, and salt marshes, which capture more carbon than forests, can help combat climate change, create productive jobs, and improve people's quality of life.

The research paper, "Unlocking Blue Carbon Development Activities," funded by the Multi-Donor Trust Fund for the Conservation of the Oceans, ProBlue, reveals that blue carbon storage in coastal and marine ecosystems, from mangroves to seagrasses, is a powerful tool in the fight against climate change. For example, halting the destruction and degradation of seagrasses worldwide could save up to 650 million tons of annual carbon dioxide emissions, which is roughly equivalent to the entire annual emissions of the global shipping industry.

Commenting on the report, Valerie Heikki, Global Director for Environment, Natural Resources, and Blue Economy at the World Bank, said: "Investing in saving and restoring mangroves, seagrasses, and other natural blue carbon storage systems can support the creation of a world free from poverty on a planet that is livable. These ecosystems not only store carbon, but they also provide a variety of benefits, including supporting fisheries and food security, promoting tourism and job creation, helping to protect coastal communities from climate disasters, and providing natural habitats for wildlife."

Blue carbon ecosystems show how development, climate, and nature can work together to provide food for communities, protect them, empower them, and lift them up. Around 4.1 million small-scale fishers worldwide depend on mangroves for fishing. Mangroves also protect more than 6 million people from annual floods, preventing additional annual losses of $24 billion in productive assets.

The report provides a framework and recommendations, the first of their kind, to guide countries through the process of investing in blue carbon. These include:

• Data and analysis: Develop greenhouse gas inventories and promote the consideration of blue natural capital in decision-making.
• Public policies and institutions: Support an enabling environment to maximize the local benefits of blue carbon and leverage partnerships to manage risks and influence the global work agenda on this issue.
• Finance: Adopt a comprehensive approach to mobilizing finance, access international grants for blue carbon readiness, encourage public-private partnerships to develop the blue carbon market, and identify value chains to reduce ecosystem degradation.

The report notes that despite these enormous benefits, blue carbon ecosystems have been degraded, with the world losing more than 50% of its original salt marshes during the 20th century. This degradation is ongoing.

Michele Diez, a senior environmental expert and director of the ProBlue program, said: "People don't realize the potential power of these carbon sinks - they store five times as much carbon as forests. If the carbon that has been stored in these ecosystems for thousands of years is released, it will be released into the atmosphere, with all the harmful consequences for our climate. It is time for governments to take action to invest in these powerful ecosystems. The World Bank is ready to support our partners in investing in a livable planet."

Source: the world bank