The sovereign territory of most Latin American and Caribbean countries is composed of marine territory, while 60% of the region's population lives in coastal provinces and/or states.
BLUE ECONOMY
CAF finances and mobilizes resources to promote the health of coasts and oceans in Latin America and the Caribbean with an emphasis on the restoration of marine and coastal ecosystems, blue carbon, renewable marine energy, and sustainable fishing and aquaculture. Among the main supported areas are: Marine Protected Areas (MPA), sanitation and waste management, flood prevention, illegal fishing control, invasive species, corals, sargassum, and the sustainability of economic activities.
This action has multiple positive impacts. For example, the prevention and eradication of invasive species in the Galapagos Islands and Cocos Island, as well as the translocation of species, would likely recover the populations of affected species and the ecosystems in which they inhabit. Additionally, the rehabilitation of corals in Colombia, Costa Rica, Ecuador, and Mexico could not only restore degraded corals but also enhance their capacity to adapt to climate change.
The ocean plays a crucial role in LAC as a fundamental source of employment and food, housing unique marine biodiversity, enabling climate regulation, and contributing to climate change adaptation efforts. However, climate change, coastal developments, pollution, invasive species, and overfishing are deteriorating these ecosystems and putting both biodiversity and the economic benefits they generate at risk.
In response to this situation, CAF has financed and mobilized resources amounting to USD 952 million to support projects aimed at preserving ocean health and promoting a sustainable blue economy. These actions are directed at strengthening oceanic and coastal policies with a focus on planning, monitoring, and project execution.
CAF's actions could have the following potential impacts, according to the following areas of action:
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The creation and management of Marine Protected Areas (MPAs) could benefit the size and richness of fish populations and boost resilience to climate change by protecting the capacity to store carbon.
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The prevention and eradication of invasive species in the Galapagos Islands and Cocos Island, as well as species translocation efforts, could likely recover the populations of affected species and the ecosystems in which they inhabit.
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Support for surveillance systems for the monitoring, detection, and control of illegal, unreported, and unregulated fishing (IUU fishing) will be key in Ecuador, Costa Rica, and the Caribbean to reduce the overexploitation of marine resources.
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Coral restoration in Colombia, Costa Rica, Ecuador, and Mexico could not only restore degraded corals but also strengthen their capacity to adapt to climate change.
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Achieving comprehensive management of sargassum in the Caribbean Sea and the Gulf of Mexico is crucial to strengthen the response capacities of affected areas to sargassum inundations and prevent economic losses.
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Ensuring better sanitation in coastal cities of Brazil and Colombia, as well as better solid waste management, will contribute to reducing the discharge of polluted waters and plastics into the sea.
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Flood prevention infrastructure can help avoid or reduce the human and material costs of flood events.
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The provision of electrical, logistical, and road infrastructure in coastal areas has the potential to increase the productivity of economic activities based on marine and coastal resources.
Highlights
The sovereign territory of most Latin American and Caribbean countries is composed of marine territory, while 60% of the region's population lives in coastal provinces and/or states.
18% of the world's eco-marine regions are in LAC, more than any other region.
Since 2021, CAF has financed and mobilized resources amounting to USD 952 million to support projects aimed at preserving ocean health and promoting a sustainable blue economy.
