Mangrove Breakthrough: Unprecedented $4 Billion Initiative Launched to Protect 15 Million Hectares of Mangroves by 2030

New York City, September 23, 2024 – The Mangrove Breakthrough project, an ambitious multi-stakeholder initiative, was officially presented in New York City today, marking a pivotal step toward protecting 15 million hectares of mangrove forests by 2030. This groundbreaking effort aims to unlock $4 billion in funding to accelerate action for the conservation and restoration of these vital ecosystems.

Led by the Global Mangrove Alliance (GMA), High-Level Climate Champions (HLCC), and Ambition Loop, the Mangrove Breakthrough forms part of the Sharm El-Sheikh Adaptation Agenda. Building on the work of the GMA, this initiative offers a comprehensive framework for governments, businesses, and civil society to halt mangrove loss, restore half of the lost ecosystems, double protection efforts, and secure long-term, sustainable financing for all remaining mangrove forests.

During the launch event, stakeholders underscored the need for breaking silos between policy, finance, and on-the-ground action to achieve transformative change. “We have lost one million hectares of mangroves since 1996—far too much,” said Jennifer Morris, Chief Executive Officer of The Nature Conservancy.

Since COP28, the Mangrove Breakthrough has made significant progress, including launching the NDC Task Force and Finance Task Force, establishing an Advisory Council, and creating the Mangrove Breakthrough Secretariat. “Since COP28, 29 governments have endorsed the Mangrove Breakthrough,” said Carlos Correa, Senior Fellow at Conservation International and Mangrove Breakthrough Ambassador.

The next phase of the initiative will focus on realizing the full potential of mangrove ecosystems in combating climate change and biodiversity loss. Emily Averna, Program Officer for Land Restoration at Bezos Earth Fund, emphasized the urgency of scaling efforts: “We need to triple, even quadruple, our efforts to incubate and grow mangrove projects, and ensure that funding reaches the grassroots level.”

The Mangrove Breakthrough also aims to foster cross-sector collaboration, facilitating dialogue between policymakers, financial institutions, philanthropy, practitioners, and the private sector to create synergies in mangrove conservation. Key priorities include unlocking long-term financing for mangrove protection and restoration, while also enhancing national and international policy frameworks, such as integrating mangrove-positive commitments into Nationally Determined Contributions (NDCs).

Looking ahead, the initiative will continue to showcase progress at major global forums, including CBD COP16, COP29, and beyond. Ignace Beguin Billecocq, Chair of the Mangrove Breakthrough Council, concluded: “We can create a blueprint for how to finance nature. Mangroves can serve as a model for how investment in ecosystems can succeed and be replicated across the globe.”