2024-08-17 09:30:06
The Ministry of Environment, Water and Ecological Transition (MAATE), led by Minister Sade Fritschi, has obtained an allocation of USD 36.4 million from the Green Climate Fund (GCF) to develop the ‘Mangroves for Climate’ project.
This project, approved at the 39th GCF Board Meeting, will focus on the conservation and restoration of mangrove ecosystems as part of efforts to address climate change.
The project will officially begin on January 1, 2025 and will run for 72 months. Its objectives include promoting a more sustainable aquaculture sector and strengthening the Socio Manglar initiative, which seeks to improve production practices and conserve mangroves through long-term financing in collaboration with the private sector and the Ecuador Carbon Zero Program.
With the implementation of the project it is expected:
- Increase the area of mangroves under sustainable management to 150,000 hectares.
- Reduce the risk of flooding for 89,600 people directly and 3.4 million indirectly.
- Decrease 732,000 tons of CO2 equivalent per year.
- Strengthen the institutional framework for mangrove protection and coastal planning.
- Improve regulatory systems for climate resilience at national government, nine subnational governments and 60 community groups.
- Increase the adoption of sustainable shrimp production practices on 20,000 hectares.
- Raise the economic value of fishing for artisanal fishermen, generating an additional USD 12.6 million annually.
This project reaffirms MAATE’s commitment to the conservation of fragile ecosystems and the mitigation of climate change. During the current administration, 14 Agreements for Sustainable Use and Custody of the Mangrove Ecosystem have been delivered, conserving 29,121 hectares of mangroves. In addition, agreements have been signed to conserve an additional 22,931 hectares of mangroves and forests in the provinces of El Oro, Guayas and Pastaza, with annual conservation incentives of USD 165,720, the Ministry indicates on its website.