🐘 Long Read (1-Min Read)

US swap $35 million of debt to save coral reefs

Coral Ecosystem Importance:
- Coral reefs are biodiversity hotspots, providing a home to 25% of all marine species.
- These ecosystems generate $375 billion annually in goods and services globally.

Conservation Status in Indonesia:
- Indonesia boasts 5.1 million hectares of coral reefs, representing 18% of the world's total.
- Over 35% of Indonesian reefs are in poor condition, and 2023 saw devastating coral bleaching events.

Coral Triangle Focus:
- The deal targets the Bird's Head and Lesser Sunda-Banda Seascapes
- These areas are home to over 75% of all coral species and more than 3,000 types of fish, turtles, sharks, whales, and dolphins.

How does it work:

1. A portion of Indonesia's debt to the US ($26 million) is forgiven and redirected to conservation efforts.

2. Conservation International and The Nature Conservancy have added an additional $4.5 million

3. Representatives from both governments will manage the funds to ensure optimal outcomes for Coral Reefs

Bigger picture:
- This is part of the Tropical Forest and Coral Reef Restoration Act, which allows countries to reduce their debt to the U.S.
- In the 25 years since its adoption, the act has supported swaps in 14 countries and unlocked more than $415 million for Coral Reefs and Tropical Forests

For NatureTech?
- The devil is in the detail with these swaps. Validating how funds are used for conservation and being able to validate their success is critical. 
- Clearly Measurement, Reporting and Verification technologies (eDNA, Bioacoustics, Camera Traps) can all play a critical role in supporting transparency.

What start-us are working in this space?

1. Coral Vita (Bahamas) - Land-based coral farming. Grows resilient forms of coral 50x faster than nature.
2. Coral Guardian (France) - Community-driven reef restoration. Trains local "coral gardeners" to be guardians of the reefs.
3. Corals. AI (USA) - AI-powered reef monitoring. Uses computer vision to assess reef health. Predicts bleaching events before they occur
4. Blue Oasis Technology (Australia) - 3D-printed reef structures. These are then sunk to support coral growth.
5. Wildflow (UK) - A data platform for Coral Reef management. Accelerating conservation research.

 (Full story here)

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Special thanks to Theresa Lieb for this awesome list…

🐝 Corporate 🐝

Lindt & Sprüngli, Head of Responsible Sourcing (Zurich, Switzerland) https://lnkd.in/eiSJdAkQ

DSM Firmenich, Global Sustainability Nature Trainee (Barcelona, Spain) https://lnkd.in/ea-sjK-e

Salesforce, Analyst, Water, Nature and GHG Accounting (London, UK) https://lnkd.in/efmu6NuV

Gap, Senior Manager, Global Water Stewardship (San Francisco, US) https://lnkd.in/eCwVECdF

Pernod Ricard, Nature Impact Manager (Paris, France) https://lnkd.in/eW85KHGk

🐝Finance🐝

Rabobank, Quantitative Analyst for Biodiversity (Utrecht, Netherlands) https://lnkd.in/eYMz-Ve8

IDB, Nature Financial Instruments Consultant (Washington DC, US) https://lnkd.in/eQjukR_X

🦊 Nature-based solution projects & nature tech startups 🦊

The Ocean Clean-Up, Senior Finance Business Partner (Rotterdam, Netherlands) https://lnkd.in/e7xGkqWu

Terraformation, Head of Commercial Finance (remote, US) https://lnkd.in/eUaCsVbj

Renature, Project Support Officer internship (Amsterdam, Netherlands) https://lnkd.in/evkbifUS