Tuesday, 07 Apr 2020 09:52 PM MYT
The Global Mangrove Trust plans to launch an app and website in the next six months using blockchain technology to fund mangrove restoration projects across India and Southeast Asia. The trees, together with related employment and conservation efforts, offer an opportunity to provide “a disproportionate benefit for the most vulnerable”, he added. Mangroves make up less than 1 per cent of tropical forests worldwide but are vital for the well-being, food security and protection of coastal communities, according to the United Nations Environment Programme .
Some mangrove restoration projects have approached the trust directly to seek funding via its new platform, called GROVE, while others were enlisted with the help of conservation groups. “There have been lots of projects in history where people have planted mangroves and three years later, all the saplings get chopped down and sold for charcoal,” said Merrill.