In celebration of the Coral Triangle today and for years to come, EcoAdapt and WWF present the Coral Triangle Climate Adaptation Marketplace. The Coral Triangle Climate Adaptation Marketplace is an online portal that aims to connect funding sources and climate adaptation projects in the Coral Triangle region.
“By linking projects to funds and funds to projects, the Marketplace contributes to the region by streamlining vital and often lacking information needed to develop climate change adaptation projects and create positive regional outcomes,” said Dr. Lara Hansen, EcoAdapt Chief Scientist and Executive Director.
The Coral Triangle Adaptation Marketplace provides an exchange between funders and project developers, serving as a matchmaking tool to aid in accessing adaptation funding for the region. Projects in all six Coral Triangle countries, Indonesia, Malaysia, Papua New Guinea, Philippines, Solomon Islands, and Timor Leste, including Fiji, are eligible to join the Marketplace.
Climate change is already affecting the vulnerable resources of the Coral Triangle region. Predicted increases of severe storms, rising seas, ocean acidification, and increased sea temperatures are threatening coastal communities and their food security, impacting the income and livelihood of over 120 million people in the region. Under the current trajectory, the ability of the Coral Triangle’s coastal environments to provide food for the local people is projected to decline 80% by 2100.
Priority adaptation projects have been identified in all of the Coral Triangle countries, however investors are facing challenges in allocating funds due to the lack of information and understanding of regional, national, and local adaptation priorities. At the same time, project developers are facing obstacles in accessing and understanding the requirements for unlocking funds to support climate adaptation projects to protect regional resources and communities. To address these challenges, WWF and EcoAdapt developed the Coral Triangle Climate Adaptation Marketplace.
“This innovative tool that brings together project developers with funders will help bring about more climate adaptation initiatives in the Coral Triangle and help strengthen the resilience of the millions of people in the region against the effects of climate change,” said Jackie Thomas, WWF Coral Triangle Programme Leader.