Encouraging businesses to commit to environmental conservation

Seychelles unveiled the Ocean’s Resolve program during a workshop at the Eden Bleu Hotel, aiming to inspire local businesses to engage in coral reef conservation efforts.

The Seychelles Conservation and Climate Adaptation Trust (SeyCCAT) will oversee the newly launched Ocean’s Resolve program. Financed by the Global Coral Reef Fund (GFCR), this seven-year initiative marks a significant step towards coral reef conservation. The GFCR stands out as the first multi-stakeholder fund dedicated to advancing the United Nations’ Sustainable Development Goal. Operating as a blended funding system, it has the capacity to mobilize USD 500 million in grants and investment capital to safeguard and improve coral reef ecosystems, while also enhancing services for communities reliant on them.

Marie-May Jérémie, Executive Director of SeyCCAT, highlighted the significance of this project’s launch, stating, “By introducing this new initiative today, we are offering opportunities for individuals from civil society or the private sector who are keen to invest in coral preservation.” Meanwhile, Flavien Joubert, Minister of Agriculture, Climate Change, and Environment, unveiled plans to integrate the program into Seychelles’ blue investment strategy.

This initiative entails the expansion of a Business and Technology Incubation Center (BTI) tailored for coral-friendly small and medium-sized enterprises (SMEs), exploring collaborative prospects with the Seychelles Investment Board (SIB), and establishing a green enterprise fund.