We have selected five winning solutions amongst the high-quality submissions we received to our first Ocean Resilience Innovation Challenge. Our winners offer financial innovations that, beyond delivering a genuine local impact, have potential to build resilience and mitigate ocean and climate risk on a global scale. Using ORRAA’s role as a connector and catalyst, we will be working with all five teams over the coming months to scale and accelerate their project’s impact – providing them with tailored mentoring, communications and leadership support to make their project ‘funding- ready’.
Marine Change is designing and implementing a number of micro-insurance products and traceability technologies in small-scale fisheries in Indonesia, as well as applying for Fair Trade USA certification. Implemented together, these interventions will increase the resilience of both coastal communities and ecosystems to ocean-based risks such as stock declines, climate impacts and ecosystem services devaluation.
“The Ocean Resilience Innovation Challenge will be a great platform for Marine Change to share ideas, brainstorm and collaborate. This is essential in finding and testing solutions to some of the bigger challenges facing our Ocean and sustaining fisheries that so heavily depend on them.”
Aqua Farms Organization has been working with the coastal communities in Dar es Salaam, Tanzania, to conduct mangrove restoration, replanting more than 10,000 seedlings between 2017 and 2019. This project will establish a community-based voluntary carbon market to help the Kunduchi and Mbweni communities conserve mangrove forests. The funds generated will be used to support education in local villages. The project will ensure sustainable mangrove protection and rehabilitation, and improving the resilience of the coastal communities.
“The Ocean Resilience Innovation Challenge will provide us with critical financial and mentorship support to establish our carbon credit project. Once in place, we expect to sell more than 3,000 tonnes of carbon credits per year, generating about 30,000 US$ annually for local communities.”
This project is creating the world's First Plastic Credit Platform dedicated to reducing waste, reviving lives, and restoring nature's balance. rePurpose Global are a global coalition of conscious consumers and businesses going plastic neutral by empowering innovators and diverting urgently needed financing to waste management, recovery, and recycling projects across the world. The project aims to empower coastal regions to improve their waste management systems and thereby stem the flow of nature- and ocean-bound plastic.
“Winning the Challenge gives us a unique reach and helps us amplify our impact journey. We are extremely excited to partner with the ORRAA network and benefit from their vast expertise in building coastal resilience.”
Mari Oceans Indonesia is working to rebalance the seaweed production supply chain through improved farming practices, finance and technology. By developing community-aligned organisations, the project will facilitate positive social, economic, and environmental impact and monitoring in South Sulawesi, scalable both regionally and globally. Assisting in the development of a pioneering, partner-designed blockchain-based ecosystem platform, MARI will deliver consistent quality for customers internationally, stabilise price and upgrade artisanal farming to large-scale contract production. The framework will integrate community protection, financing and educational services to move livelihoods away from biased, exploitative systems to new ones which distribute profit in harmony with nature.
“Winning ORRAA’s Innovation Challenge validates MARI’s model. ORRAA’ support will accelerate the implementation of our framework and enable the technology needed for empowering progressive social change for vulnerable coastal communities - facilitating transformative financing, accelerating the transition from artisanal to contract farming, and fostering income stability and resilient livelihoods.”
Kota Kita Foundation is a non-governmental organisation seeking to establish a trust to guide the sustainable development of the Karimunjawa islandscape. Karimunjawa is an emerging ecotourism hotspot in Indonesia, recently designated as a critical biosphere, yet threatened by increased mass tourism and unregulated developments. The trust aims to capitalise on diversified funding sources and develop creative financial products, such as microloans, to leverage investments in resilient village infrastructures and to finance conservation initiatives. The trust will improve the resilience of the marine ecosystem through the development of sustainable tourism-based economy driven by the local communities in the islandscape.
“The Innovation Challenge will help Indonesia accelerate the development of new creative mechanisms much needed to finance efforts towards climate change and environmental conservation in fast growing tourism hotspots. This will be an opportunity to combine the double objective economic development and ecosystem conservation, and even enhancement.”