The Coca-Cola Foundation (TCCF), the global philanthropic arm of The Coca-Cola Company (TCCC), and Conservation International Ventures (CI Ventures), have on Tuesday announced the launch of a new, innovative climate resilience project in Southeast Asia to protect and restore mangrove areas – which play a critical role in guarding against the impact of climate change.

The duo said in a statement that through a $1.5 million grant, the project will create a dedicated investment pool in CI Ventures philanthropy fund, financing up to three to four small and medium sized enterprises (SMEs).

According to the statement, the investment will go towards businesses that support local communities and mangrove protection such as crab cultivation or wild shellfish harvesting.

It is noted that globally, protecting mangrove areas against coastal flooding is estimated to help save more than $80 billion in losses annually, and could impact around 18 million people worldwide.

Southeast Asia is a critical region for mangrove ecosystems, including Indonesia, which is home to 3.63 million hectares, representing a significant amount of the world’s remaining
mangroves.

Mangroves contribute to coastal resilience, especially in the Philippines, which experiences the devastation of multiple typhoons yearly.

“This financing initiative delivers on The Coca-Cola Foundation’s continued focus to help support climate resilience and enable vulnerable communities to adapt to the impacts of climate change,

“While this is just the first step, we envision that this project will help improve the lives of thousands of people living in vulnerable shoreline communities by restoring and protecting mangrove coastlines across Indonesia and the Philippines,” said Carlos Pagoaga, President, TCCF.

Gracie White, CI Ventures Director of Global Ocean Investments, said marine and coastal ecosystems, such as mangroves, seagrasses and salt marshes play a significant role in global climate mitigation and adaptation.

“Mangroves are climate superstars — a single square kilometer of mangroves can lock away as much climate-warming carbon as the annual emissions of 35,000 cars,

“This new innovative climate resilience project is the latest to transform the way we approach climate protection and support businesses that are focused on the growth and protection of vital mangrove ecosystems. We are excited for the support of The Coca Cola Foundation on this effort,” she added.

CI Ventures is an impact investing program that provides loans to small-and medium-sized enterprises that operate in key landscape and seascape ecosystems where Conservation International works.

The program uses philanthropic capital to provide flexible, patient, and risk-tolerant investments to nature-positive enterprises.

Returns are reinvested in new businesses, enabling conservation to pay for itself and for capital to be recycled, multiplying the impact of every dollar invested.

TCCF supports transformative ideas and institutions that address complex global challenges and that leave a measurable and lasting impact.

Its giving is focused on sustainable access to safe water, climate resilience and disaster risk preparedness and response, circular economy, economic empowerment, and causes impacting our hometown community.

Since its inception in 1984, TCCF has awarded grants of over $1.5 billion in service of its mandate to strengthen communities across the world.

Singapore-based blockchain exchange Net Zero-X launches to tackle financing gap for climate projects