Singapore-led initiative launched to better protect, restore marine habitats for carbon credits

Firms will be able to test their technology in actual conservation sites in South-east Asia

- Audrey Tan Assistant News Editor

A tree adoption site in South Sumatra, Indonesia, where mangrove seedlings have been planted. More than 30 per cent of the world's mangroves and seagrass are located in South-east Asia. These ecosystems can store more carbon per hectare than tropical forests, support a variety of wildlife and protect coastal communities from storms. ST FILE PHOTO

(ST FILE PHOTO)

A Singapore-led initiative that aims to boost the protection and restoration of marine and coastal habitats in Southeast Asia to generate carbon credits was launched in New York on Sept 24.

Blue Catalyst aims to help early-stage companies with technological solutions that can, among other things, accurately map out blue carbon habitats, monitor biodiversity or improve sapling mortality, and scale up their business models. The initiative is backed by the Economic Development Board (EDB).

Such solutions are geared towards tackling technical and operational barriers so more of such marine ecosystems can be conserved as carbon projects.

Under the 12-month programme, companies will be able to test their technology in actual conservation sites in Southeast Asia managed by the World Wide Fund for Nature (WWF), one of the world’s largest conservation organisations. WWF will also contribute its expertise on blue carbon science and carbon markets via its global network of specialists.

Hatch Blue, a global investment and innovation company that advances ventures supporting ocean health, will prepare the startups to attract investments and provide mentorship to help them scale up their businesses.