The fifth Think Tank meeting recently held in Thailand

Opportunities for using nature, biodiversity and carbon markets to support sustainable management of coastal ecosystems

The IORA Blue Carbon Hub, in collaboration with the Thailand Department of Marine and Coastal Resources and the IORA Secretariat, recently hosted the fifth think-tank meeting on ‘Opportunities for using nature, biodiversity and carbon markets to support sustainable management of coastal ecosystems’ from 10-12 September 2024 in Phuket, Thailand.

The meeting focused on challenges and opportunities for using nature finance (from carbon to biodiversity) to support the protection and restoration of coastal ecosystems in way that provides economic benefits to the local communities that rely on them. Fifteen experts from eight nations joined over 50 delegates from 17 IORA Member States in presentations, discussions and a field trip to a beautiful Phuket mangrove forest.

Discussions covered challenges including the problem of attracting investment during critical early periods of project development, getting adequate prices for benefits as well as demonstrating return to potential investors, and an enabling regulatory environment. The final session included breakout groups in which delegates discussed and proposed recommendations ranging from capacity building to development of clear guidelines and public sector investment into enabling conditions and incentives.

A report with the recommendations and the content of the discussions will be produced and made available through the IORA Blue Carbon Hub website.