Project: Coral reef valuation & sustainable financing study
Client: Landell Mills/Asian Development Bank
Location: Philippines, Indonesia, Fiji and Solomon Islands.
Objective: To investigate and help implement coral reef finance/insurance and risk management models in four Southeast Asian/Pacific countries. These mechanisms will enable the deployment of sustainable finance for better coral reef protection and restoration in the event of hazards, especially extreme climate related incidents such as cyclones and bleaching events.
Our role: Leveraging our expertise in ecosystem services, Sustain Value has developed a methodology to value coral reef ecosystem services at selected sites in each country. The valuation includes site visits and collaboration with national consultants to gather data and apply suitable valuation technique. The results are being used in a cost-benefit analysis to inform the viability of coral reef insurance and other sustainable financing models.
Outcome: The project is ongoing, but so far we have developed a Rapid Site Prioritisation Assessment to identify priority sites in each country, considering a range of material risk, ecological, economic, social and governance factors. The valuation is currently being used to demonstrate the viability, help identify sustainable funding streams and inform selection of a final preferred site in each country.