The Coca-Cola Foundation, the global philanthropic arm of The Coca-Cola Company, and Conservation International Ventures announce the launch of a new, innovative climate resilience project in Southeast Asia to protect and restore mangrove areas, which play a critical role in guarding against the impact of climate change. Globally, protecting mangrove areas against coastal flooding is estimated to help save more than US$80 billion in losses annually, and could impact around 18 million people worldwide. Southeast Asia is a critical region for mangrove ecosystems, including Indonesia, which is home to 3.
63 million hectares, representing a significant amount of the world's remaining mangroves. Mangroves contribute to coastal resilience, especially in the Philippines, which experiences the devastation of multiple typhoons yearly. Through a US$1.
5 million grant, the project will create a dedicated investment pool in Conservation International's Venture philanthropy fund, financing up to three to four small and medium sized enterprises. Investment will go towards businesses that support local communities and mangrove protection such as crab cultivation or wild shellfish harvesting. "This financing initiative delivers on The Coca-Cola Foundation's continued focus to help support climate resilience and enable vulnerable communities to adapt to the impacts of climate change," said The Coca-Cola Foundation President Carlos Pagoaga.
"While this is just the first step, we envision that th.