The agreement made in Davos, Switzerland, will boost Indonesia’s national blue carbon roadmap. In turn, this will encourage the financing of blue carbon credits to support ocean conservation and restoration initiatives.
To use its blue carbon resources to achieve climate goals, Indonesia will be the first national government to enter into this relationship with the WEF. It will also unlock knowledge, engage champions, builds collaborations, and create innovation in Ocean innovation, Blue food, Climate and resilience, and Business and policy transformation. The ultimate purpose of these activities is to assist in meeting the fast-rising global demand for high-quality blue carbon credits and projects.
The largest archipelago country in the world, Indonesia, is a pioneer in blue carbon and the sustainable ocean economy. About 20% of the surviving mangroves on earth are found there, making it the most significant source of blue carbon on the entire planet. Before this agreement on blue carbon, the WEF and the Indonesian government launched Ocean 20 (O20) in November last year. Last year, the mission of accelerating sustainable blue economies in the area fell to the G20 President.
Participants from various blue carbon initiatives and sectors will come together thanks to the blue carbon partnership between the WEF and Indonesia. In turn, this will encourage the financing of blue carbon initiatives. The WEF will continue to support nations in attaining their national climate targets and actions while promoting blue carbon initiatives.