Ocean Risk and Resilience Action Alliance: UK joins marine climate solutions drive
Jess Rawnsley
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Mangrove restoration could play a key role in storing carbon
UK government joins Canada as second G7 country to back the ORRAA, which aims to funnel $500m into nature-based ocean climate solutions by 2030
The UK has joined the Ocean Risk and Resilience Action Alliance (ORRAA), a multi-sector collaboration established to funnel $500m investment into coastal natural capital by the end of the decade, the government announced this week.
International Environment Minister Zac Goldsmith made the announcement at the World Economic Forum s Ocean Dialogue on Wednesday, which makes the UK the second G7 country to join following Canada.
26 May 2021 The UK has announced its full membership of the Ocean Risk and Resilience Action Alliance (ORRAA).
The alliance aims to drive $500 million of global investment by 2030 into nature-based solutions to climate change. The investment will be used to enhance marine and coastal ecosystems such as reefs, mangroves and seagrass beds to increase resilience to climate change and mitigate its impact on coastal communities.
The UK becomes the second G7 country after Canada to become a full member of the Alliance. Through the UK’s G7 and COP26 Presidencies, ORRAA will be uniquely placed to bring the financial sector, governments and NGOs together to drive investment in nature-based solutions and to build resilience in vulnerable coastal communities.