Blue Carbon encompasses the carbon stored in coastal and marine ecosystems, including mangroves, salt marshes, seagrass meadows, macroalgae (such as kelp), and benthic sediments, recognized for providing vital ecosystem services that benefit humanity. These ecosystems contribute to climate change mitigation by burying three to five times more carbon per unit of area than tropical forests, while also offering adaptation benefits such as flood and storm protection, freshwater filtration, soil fertilization, and food production. Despite their economic, environmental, and social importance, Blue Carbon ecosystems (BCEs) face severe pressure from a range of degradation drivers, including agriculture, aquaculture, infrastructure, and urban development. Rapid and substantial action is needed to scale protection and restoration measures and provide the necessary funding. Studies have shown that the benefits of Blue Carbon initiatives, environmental, social, and economic, far surpass associated costs. However, bringing about these changes requires substantial resources in data, science, finance, and tailored regulatory and institutional interventions. Governments, in their role as regulators, administrators, law enforcers, landowners, and social and economic mediators, are center stage in this process. With the pressing need to tackle climate mitigation, enhance climate resilience, and transition to a more productive and resilient Blue Economy, this report examines the readiness of Belize to facilitate, catalyze, and scale up public and private investments in coastal Blue Carbon, including through the international carbon markets.
Authors
- Disclosure Date
- 2024/10/04
- Disclosure Status
- Disclosed
- Doc Name
- Belize - A Blue Carbon Readiness Assessment
- Pages
- 122
- Product Line
- Advisory Services & Analytics
- Published in
- United States of America
- Rel Proj ID
- 1W-Piloting The Blue Carbon Readiness Framework And Opportunities -- P500975
- TF No/Name
- TF0C2489-G227 4.2 -Global-Piloting the Blue Carbon Readiness Framework and Oppor
- Unit Owning
- Planet - GLOBAL ENR PM (SENGL)
- Version Type
- Final
- Volume No
- 1
Table of Contents
- _Hlk168406265 40
- _Int_YvKvntuz 65
- Abbreviations list 8
- Executive Summary 9
- Introduction 19
- Data and Analytics 21
- Pillar 1 21
- 1.1 22
- Blue Carbon Ecosystems (Pillar 1-A) 22
- 1.1.1 BCE Extent & Carbon Stocks 24
- 1.1.2 Drivers of Degradation 28
- 1.1.3 Socioeconomic Valuation 37
- 1.1.4 Exploring Restoration Opportunities in Belize 40
- 1.1.5 Data Capacity 46
- 1.2 48
- Greenhouse Gas Inventories (Pillar 1-B) 48
- 1.2.1 National Greenhouse Gas Inventory 49
- 1.2.2 REDD+ Program & Forest Reference Level (FRL) 50
- 1.3 52
- Analysis of Pillar 1 52
- Policy and Institutions 55
- Pillar 2 55
- Analysis of Pillar 2 79
- Institutional Framework 69
- 2.4.1 Stakeholder Group 1 71
- 2.4.2 Stakeholder Group 2 74
- 2.4.3 Stakeholder Group 3 75
- 2.4.4 Stakeholder Group 4 77
- 2.4.5 Stakeholder Group 5 78
- 2.5 79
- Legal Protection for Blue Carbon Ecosystems 60
- 2.3.1 Protected Areas 62
- 2.3.2 The Forests (Protection of Mangroves) Regulations of 2018 64
- 2.3.3 Marine Spatial Planning and the Blue Economy 67
- 2.4 69
- NDC Implementation 59
- 2.3 60
- NDC Commitments 57
- 2.2 59
- 2.1 57
- Finance 81
- Pillar 3 81
- Analysis of Pillar 3 98
- REDD+ Finance 96
- 3.5 98
- Carbon Markets 95
- 3.4 96
- Financing Mechanisms 87
- 3.2.1 Blue Bond (Debt for Nature Swap) 87
- 3.2.2 Project Finance for Performance (PFP) 89
- 3.2.3 Protected Areas Conservation Trust (PACT) 90
- 3.2.4 Climate Finance Mobilization 91
- 3.3 95
- Blue Investment Strategy 83
- 3.2 87
- 3.1 83
- Recommendations 101
- 4.1 102
- Pillar 1: Data and Analytics 102
- 4.2 104
- Pillar 2: Policy & institutions 104
- 4.3 106
- Pillar 3: Finance 106
- Bibliography 110
