Respira, Microsoft, Trafigura and Carbon Growth Partners are the first buyers to invest in this exemplary blue carbon project
The world’s largest blue carbon project, Delta Blue Carbon, is protecting and restoring 350,000 hectares of tidal river channels and creeks, low-lying sandy islands, mangrove forests and inter-tidal areas on the south-east coast of Sindh in Pakistan. This incredibly rich and diverse landscape provides a critical ecosystem service. It sustains productive fisheries, serves as an important feeding ground for migratory shorebirds and supports the socioeconomic livelihoods of coastal villagers who collect shellfish and crabs.
The delta area also provides fertile ground for sequestering and storing vast amounts of atmospheric carbon. The delta’s mangrove forests are the largest area of arid climate mangroves in the world but have experienced massive-scale deforestation and degradation. This is a pioneering public private partnership between the government of Sindh and a private project developer, Indus Delta Capital.
Mangrove forests sequester 3-5 times more CO2 per hectare than upland tropical forests. The project is engaging in large scale mangrove planting across the delta. In total 220,000 hectares will be planted, the largest restoration programme in the world. To date, over 70,000 hectares have been planted. The project will operate over a 60-year lifespan and will generate over 128.5 million high-quality credits, and sequester 142 million tonnes CO2.
Respira, Microsoft, Trafigura and Carbon Growth Partners are the first buyers to invest in this exemplary blue carbon project.
“We are delighted to be involved in this landmark transaction and use our balance sheet to invest in the world’s largest blue carbon project, which will deliver large scale impacts for climate, biodiversity and local communities.
“We believe this commitment will provide Indus Delta Capital and the Government of Sindh with the resources they need to move forward with financial certainty, helping them focus on implementing and developing this truly impactful project.” Ana Haurie, CEO of Respira in the announcement press release.
Read more in this Environmental Finance article.