As the world works to recover from the ongoing crisis, governments need to include in their recovery strategies, actions that can especially focus on sustaining and improving one of the most critical, visible and universally needed environmental resources, our oceans – including all water bodies, seas, lakes and rivers. Asian Development Blog
The ocean which is essentially the source of life has been plagued by numerous problems from time immemorial. An 8-million-ton of problem which consists of plastics is one of them, among others. Nevertheless, there is an opportunity to save and protect our oceans. Projects such as plastic waste management, coastal protection, marine protected areas are existing and underway. The challenge to make these projects effective is the shortage of funds and financial incentives. Thus, an innovative financing approach is needed. Blue credits is a mechanism that gives financial support to project implementing entities thereby fueling private capital into oceans health improvement projects.
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