A nature capital alliance in partnership with a UK-government fund has opened a call for applicants from ocean-based projects, as it aims to drive investment of over $500 million into the space by 2030.

The Ocean Risk and Resilience Action Alliance (ORRAA), a cross-stakeholder collaboration, and the UK government’s Blue Planet Fund, opened the call for projects which stretches from now to July 3.

As part of the invitation for submissions, ORRAA said the funding will be put towards its goal to catalyse the investment of at least $500 mln into coastal and ocean natural capital by the end of the current decade.

It will do this through the development and deployment of financial products that build the resilience of an estimated 250 mln climate vulnerable coastal people by 2030.

As part of this call for financial support, prospective projects can apply for either a pilot or project grant, depending on the level of development of their project, the partnership stated.

The ‘Pilot Grant’ is “tailored for organisations to test and pilot innovative solutions” and offers between $50,000 and $150,000.

The ‘Project Grant’, meanwhile, is “tailored for organisations to pilot innovative solutions and scale up and replicate proven ideas in new contexts” and offers between $150,000 and $500,000.

The UK’s Blue Plant Fund, which supports this call for applications, is a £500 mln initiative set up to help developing countries protect the marine environment and reduce poverty.

It is financed from the UK Official Development Assistance (ODA) budget and was established to help meet 2030 nature goals, including a call to protect at least 30% of the global ocean by 2030.

By Roy Manuell – roy@carbon-pulse.com

*** Click here to sign up to our weekly biodiversity newsletter ***