Blue Economy for Resilient Africa Program

About the Blue Economy for a Resilient Africa Program 20180510-Guinea-Tremeau-015

The African Union estimates that the Blue Economy currently generates nearly US$300 billion for the continent, creating 49 million jobs in the process. These and other crucial benefits—most notably food security, livelihoods, and biodiversity—are entirely dependent on the ocean’s health. By safeguarding and enhancing marine and coastal health, countries will be in a better position to take full advantage of future Blue Economy opportunities, which range from sustainable blue energy to aquaculture to blue carbon.

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Costa Rica’s Forest Conservation Pays Off

STORY HIGHLIGHTS World-Bank-Climate-Funds-Management-Unit-48050851712-db2b2023b6-b

  • Costa Rica has become the first country in Latin America and the Caribbean to receive payments from the World Bank’s Forest Carbon Partnership Facility for reducing carbon emissions from deforestation and forest degradation—commonly known as REDD+.
  • This first payment – of $16.4 million for independently verified emission reductions — is a milestone for Costa Rica.
  • Results-based climate finance such as payments for emission reductions increasingly is being used to incentivize climate action and help countries achieve their Nationally Determined Contributions to the Paris Agreement.

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Countries Could Cut Emissions by 70% by 2050 and Boost Resilience with Annual Investments of 1.4% of GDP