Climate Impact Partners have teamed up with Deloitte and the UK’s National Oceanography Centre on a project to fund the recovery of seagrass in Britain’s coastal areas.
According to the groups, the initiative will help to fund important research into the importance of seagrass meadows, mapping the ecosystems and developing strategies to restore them at scale.
Seagrass plays a key role in sequestering carbon, protecting coastlines, and supporting marine biodiversity, however restoration activities have thus far been underfunded, with close to a third of seagrass in the UK lost over the past century.
The project will seek to address the barriers that prevent finance flowing into this important restoration area, as well as improving scientific knowledge about carbon sequestration, initiating new techniques for seagrass propagation and engaging communities in meadow restoration.
‘A connected system’
“Reaching net-zero will require the global economy to decarbonise as part of a connected system,” commented Smruti Naik-Jones, chief sustainability officer at Deloitte UK and North & South Europe. “This incredible seagrass program, developed by Climate Impact Partners, enables us to learn more about these marine ecosystems, fund critical research and help unlock a powerful tool in the fight against the climate crisis.”
This initiative forms part of Deloitte’s Beyond Value Chain Mitigation (BVCM) programme, which focuses on fostering innovative solutions that extend beyond its direct value chain.
By leveraging its skills, influence, and targeted investments, Deloitte aims to catalyse significant environmental and social impacts in key areas such as energy transition, circular economy practices, sustainable food systems, and nature restoration.
Climate leadership
“Deloitte is demonstrating true climate leadership through this program,” added aid Kirsty Schneeberger, head of product innovation at Climate Impact Partners. “Seagrass offers a unique opportunity to mitigate climate change while delivering significant co-benefits for biodiversity and coastal communities.”
“Imagine seagrass meadows as underwater vaults – they lock away enormous amounts of carbon for long periods, potentially millennia, as long as they remain healthy and undisturbed. We need to ensure they receive long-term and large-scale financing to accelerate the restoration and protection of these underwater wonders.” More information on the initiative can be found here.
