The Blue Carbon Accelerator Fund (BCAF) will support the development of blue carbon restoration and conservation projects in countries outside Australia and help pave the way for private sector finance.
The Blue Carbon Accelerator Fund provides funds for:
- Readiness support that will help project developers with activities to get projects ready for implementation and future private sector finance.
- Implementation support for on-the-ground blue carbon ecosystem restoration or conservation projects that will demonstrate and measure climate, biodiversity and livelihood benefits and enhance the business case for private sector investment in coastal blue carbon ecosystems.
Australia is working in partnership with the International Union for the Conservation of Nature (IUCN) to deliver the BCAF and support on-the-ground restoration and conservation activities.
The BCAF builds on the strong work and templates for success of the Blue Natural Capital Financing Facility (BNCFF), and will be managed in parallel to the BNCFF.
Further details will be available on the IUCN website shortly.