In Rio de Janeiro, Brazil has launched a significant coral reef conservation program, allocating up to R$60 million (about $12 million) to preserve its coastal reefs.
The Brazilian Development Bank (BNDES) spearheads this initiative, promoting sustainable development and economic growth through marine conservation.
The funding supports shallow coral reefs and two major coral banks, crucial for biodiversity and tourism, yet threatened by warming seas.
The program aims to stabilize these ecosystems, enhancing tourism and fisheries along Brazil’s extensive coastlines.
Funded projects are required to enhance water quality, tackle harmful fishing practices, and foster community-based tourism focused on coral ecosystems.
This focus is particularly crucial in the densely populated reef areas of Brazil’s Northeast.
The total investment may reach $12 million, with BNDES providing half and the rest coming from project partners.
Each project must secure a minimum of R$5 million (approximately $1 million), with the costs shared equally.
BNDES research indicates that preserving each square kilometer of reef could save around R$940 million ($188 million) in coastal protection expenses.]
At the same time is is said to generate R$62 million ($12.4 million) in tourism revenue. This could boost Brazil’s coral tourism revenue by R$7 billion ($1.4 billion).
Brazil Launches Blue Economy Program for Coral Reef Protection
This initiative is part of a broader Latin American effort to protect marine biodiversity, with countries like Mexico, Belize, and Colombia also actively conserving their coral reefs.
These nations are improving coral reef health to support economic growth and ecological sustainability.
For example, Mexico concentrates on sustainable tourism and fisheries management at the Mesoamerican Reef, the world’s second-largest barrier reef.
Through these investments, Brazil and its neighbors are preserving their ecological heritage and fostering a sustainable, robust future.
This initiative emphasizes coral reefs’ crucial role in supporting marine life, boosting economies, and reducing climate change impacts.