The Blue Carbon Accelerator Fund (BCAF) today launches its Readiness Support call for proposals to all entrepreneurs and project developers involved in blue carbon work. Readiness Support will help project developers to get coastal blue carbon restoration projects ready for implementation and introduce them to future private sector finance – growing the global portfolio of credible and investment-ready blue carbon projects.
Moving blue carbon forward
The Blue Carbon Accelerator Fund (BCAF) was established by Australia and IUCN, International Union for Conservation of Nature and Natural Resources, as a dedicated funding scheme to support blue carbon restoration and conservation projects in developing countries and help pave the way for private sector finance.
The BCAF contributes to addressing barriers to scaling-up and financing blue carbon restoration by supporting the development and implementation of quality blue carbon projects including funding early-stage activities, facilitating capacity building through technical collaboration, assisting with brokerage for future financing, and monitoring and valuing both carbon and non-carbon outcomes.
The beginning of tangible BCAF work, with more to follow
The Readiness Support call is Part 1 of BCAF work. It also announces the beginning of tangible BCAF work to potential project sponsors and contributors, governments, and other audiences. Other calls for proposals will follow.