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Yesterday at COP27, the U.S. Government announced the Red Sea Initiative – a major new initiative aimed at conserving the Red Sea’s coastal ecosystem, while promoting high-value, low-environmental impact ecotourism.
Through an initial U.S. Government contribution of $15 million, the Red Sea Initiative plans to:
● Protect the Red Sea’s coral reef and surrounding coastal ecosystem against the impacts of climate change and human activity;
● Empower local communities to lead on climate action;
● Establish a blended finance mechanism to support businesses in building resilience against climate change, reducing emissions, and creating jobs; and
● Partner with private businesses and other donors to leverage up to $50 million in total funding.
To advance the w...
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