International policy and financing processes under the UNFCCC encompass and enable coastal ecosystem-based mitigation activities. The area of mangroves, seagrass beds and tidal wetlands under sustainable management for climate change mitigation is increased in five developing countries, and greenhouse gas balance and other ecosystem services are consistently quantified and valued using standardized methodologies.

Through UNEP's Blue Carbon Initiative, the GEF project Standardized methodologies for carbon accounting and ecosystem services valuation of blue forests' was initiated in 2012, involving a range of country and technical partners. The project will improve scientific knowledge on carbon sequestration and storage in coastal ecosystems, notably mangroves, seagrass beds and tidal marshes.Standardized methodologies for accounting and reporting on emissions from coastal ecosystem sources and removals by sinks, as well as economic valuation of ecosystem services in these ecosystems, will be developed and tested through a range of small-scale demonstration interventions. Through communication and awareness raising as well as policy consultation, the adoption of such methodologies in national and international policy frameworks will be furthered, so that REDD+, NAMA, LULUCF and other relevant processes recognize and enable coastal ecosystem-based mitigation. Better understanding of associated ecosystem service values will support integration with coastal adaptation, development and conservation planning. The initiative will ultimately enable financial transactions that help countries, communities and companies employ ecosystem management in achieving mitigation targets while enhancing provision of other ecosystem services for the benefit of coastal communities and other stakeholders.

UNEP, GRID-Arendal, UNEP-WCMC, IOC of UNESCO, IUCN, Academic Institutions, NGOs