BLUE BLOG: Builders Initiative Joins Global Partners in Making Major Commitments to Ocean Health and Sustainability
As global leaders at COP 26 recognized that the health of the ocean, and economies that depend on it, requires the world to urgently reduce greenhouse gas emissions and make progress on major ocean-related climate actions, Builders Initiative joined global leaders and partners in announcing major commitments to ocean health and sustainability. These new commitments will support the efforts of the United Nation’s Global Fund for Coral Reefs (GCRF) and the Ocean 14 Capital Fund.
“We hope these commitments help catalyze further investments and philanthropic giving to help protect our oceans from the dangerous impacts of climate changes. We believe healthy ocean ecosystems are a pillar of a global environmental recovery, a driver of economic growth, and a foundation for food and climate security and human health.”
— Peter Bryant, Senior Program Officer, Builders Initiative
Builders Initiative, which is part of the Builders Vision Impact Platform dedicated to helping build a more humane and healthy planet, is pursuing an integrated philanthropic and investment approach entitled the “2050 Impact Vision” that takes a systems approach helping ensure ocean ecosystems:
- Are resilient and balanced; and ocean resources are abundant
- Meaningfully contribute to climate resilience and emissions reduction targets
- Support food and nutritional security
Builders Initiative’s Oceans strategy currently centers around three core program areas: sustainable fisheries management, climate resilience, and catalyzing restorative aquaculture.
As a natural extension of that strategy, Builders Initiative is committing resources to the Global Fund for Coral Reefs and the Ocean 14 Capital Fund.
- · Global Fund for Coral Reefs: The GFCR invests in revenue-generating initiatives that address multiple and parallel drivers of degradation of coral reef systems. By supporting integrated solutions in targeted focal areas, the GFCR strengthens the resilience of both biodiversity and local communities. “We continue to see every day the impacts of climate change on our daily lives – with increased weather events all over the world, more severe draughts and fires, and storms with greater power to impact our lives. Under the ocean, coral reef systems are also being severely impacted. Reef bleaching events are happening more frequently and extensively, and disease outbreaks are threatening the health of these vital marine ecosystems. With reefs on the frontlines of the climate crisis, the only time left for action to save coral reefs is now,” said Builders Private Capital Chief Investment Officer Sanjeev Krishnan at a GCRF COP 26 event on November 6 in Glasgow, Scotland.
- Ocean 14 Capital Fund: Builders Initiative also announced that it has joined the European Investment Fund (EIF), Chr. Augustinus Fabrikker, and Andrew Forrest’s Minderoo Foundation in becoming the cornerstone investors in Ocean 14 Capital’s inaugural fund. Ocean 14 is the first large investment fund to focus exclusively on the blue economy. Builders Initiative committed $5 million to the effort. The fund is a unique combination of marine industry and nature conservation knowledge that comes from Ocean 14 Capital, a private equity firm focused on the United Nations’ Sustainable Development Goal 14 (SDG14), which aims to conserve and sustainably use the oceans, seas and marine resources for sustainable development.
“Builders Vision is excited to be part of Ocean 14 Capital’s first close. Builders is committed to developing the ecosystem of businesses focused on ocean health and sustainability. We believe the team at Ocean14 Capital have the drive and commitment to lead this impact-focused growth fund for oceans to meaningful market investments that can improve the health of our oceans,” said Bryant.