The Global Environment Facility (GEF) and the Bezos Earth Fund have become the first to pledge financial support for a Pacific Island initiative made Sunday to conserve or implement sustainable activities across more than 1 billion hectares of ocean.

Unlocking Blue Pacific Prosperity aims to implement sustainable management practices across the entire region’s marine area – which is almost 50% larger than the African continent – through activities such as sustainable coastal food systems, and rejuvenating coral reefs, mangroves, and other coastal ecosystems.

GEF has announced it will support the initiative by $125 mln in funds through its Star GEF 8 programme, while the Earth Fund will add up to $100 mln to that.

“We understand that, because of its vast size, what happens to our Pacific is make or break for the planet. That’s why we have committed to protecting 30% of our Blue Continent as we strive to protect and sustainably manage critical ecosystems,” said Tonga Prime Minister Siaosi Sovaleni.

“We mean to show the world that Pacific people are resilient and determined to hope, despite the dire Global Stocktake report card.”

At a launch event on the sidelines of COP28 in Dubai, GEF CEO Carlos Manuel Rodriguez encouraged other institutions and organisations to commit funding as well.

That view was echoed by Andrew Steer, president and CEO of the Bezos Earth Fund.

“Pacific Islands States are custodians of 30% of the world’s precious coral systems, provide over 50% of the global tuna supply, and care for the largest carbon sink on the planet,” he said in a statement.

“We are delighted to lend our support for this bold initiative to secure the health, food security, and livelihoods of people across the region. We urge other partners to join us to support this bold vision.”

WWF will contribute technical expertise to the venture.

By Stian Reklev in Dubai – stian@carbon-pulse.com

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