The Mediterranean has significant biodiversity, specific habitats, and an extremely high rate of endemism. Despite an area of 0,7% of the world’s oceans, it is one of the most biologically diverse seas in the world with over 17,000 listed species representing 8% of the world fauna and 18 % of the flora.
The Mediterranean Sea is threatened by numerous anthropogenic pressures that lead to a degradation of ecosystems, a significant drop in fish populations - 85% of which are overfished - and a decline in emblematic species, such as the monk seal or sea turtles.
However, scientific studies have shown that Marine Protected Areas (MPAs) are effective tools to protect biodiversity, if they have sustainable human and financial resources.
Thus, under the leadership of Monaco, France and Tunisia and with the financial support of the GEF and CI-GEF a custom-made Conservation trust fund The MedFund has been designed to support MPA management throughout the Mediterranean.
The International Waters Department of the GEF supported the project entitled “Long-term Financial Mechanism to Enhance Mediterranean MPA Management Effectiveness”, which effectively established and operationalized The MedFund a sustainable financing mechanism for Mediterranean MPAs according to the practice standards for CTF[1] and its donors’ requirements. It is today hybrid environmental fund composed of an endowment fund, a sinking fund, and a revolving fund.
To date The MedFund is fully operational and has committed EUR 2.7 M for 8 MPA core management cost projects in Tunisia, Morocco, Albania and Turkey.
As part of its initial fundraising activities The MedFund raised EUR 1M from the Fonds Français pour l’Environnement Mondial (FFEM) and EUR 4M from Agence française de développement (AFD) for its endowment fund, and a EUR 1M from Prince Albert II of Monaco Foundation for its sinking fund. This capital is invested according to a green investment strategy and will generate annual revenues which will be used to co-finance the core management costs of some of the targeted 20 MPAs.
Guided by science and encouraged by the commitments of several leaders to increase the number of highly protected MPAs in the Mediterranean, The MedFund Board of Directors decided to create a new funding window dedicated to MPAs with a high level of protection called the Highly Protected Mediterranean Initiative. The MAVA Foundation, which has been involved for many years in the protection of nature in the Mediterranean, has decided to support this initiative with M 1.8 CHF, thus becoming the first partner to join this Fund.
Romain Renoux The MedFund Executive director stated that “while many Mediterranean States raised their ambition to protect 30% of the Mediterranean including 10% under strict protection, by 2030, The MedFund will be a key player in the years to come”.
To support those commitments and the post 2020 CBD targets that will be defined this year The MedFund and MedPAN the network of Med MPA managers have joined forces to design and submit to the GEF a new project proposals entitled “Build back a blue and stronger Mediterranean” to develop strong, effective and sustainable management of Mediterranean MPAs in Albania, Algeria, Lebanon, Montenegro, Morocco and Tunisia.
“Stay the course towards a Mediterranean exemplary sea by 2030 !” as stated by Romain Renoux during the last IUCN World Congress that took place in Marseille on the shores of the Mediterranean.
Twitter @TheMedFund
https://themedfund.org/en/
.jpeg?auto=webp)
.jpeg?auto=webp)
/1x.jpeg?auto=webp)
/1x.jpeg?auto=webp)
/1x.jpeg?auto=webp)
/1x.jpeg?auto=webp)
/1x.jpeg?auto=webp)
/1x.jpeg?auto=webp)