The Blue Carbon Accelerator Fund (BCAF) supports the development of blue carbon restoration and conservation projects in developing countries and helps pave the way for private sector finance.
THE BLUE CARBON ACCELERATOR FUND
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 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 demonstrate and measure benefits for climate, biodiversity and people, and enhance the business case for private sector investment in coastal blue carbon ecosystems.
As a member of the Global Ocean Accounts Partnership (GOAP), the Australian Government is funding the GOAP Secretariat to help the selected BCAF Implementation Support projects to compile and report relevant social, economic and environmental baseline and outcome data in accounting formats that are compatible with international statistical standards.