MARI Oceans is one of the finalists of ORRAA’s Ocean Resilience Innovations Challenge announced February 15th, 2021.
The Ocean Risk and Resilience Action Alliance (ORRAA) is a multi-sector collaboration designed to drive $500 million into finance products invested in coastal natural capital by 2030. ORRAA hosted the Ocean Resilience Innovation Challenge to help foster finance and insurance innovations that build coastal resilience to ocean-derived risks and in line with ORRAA’s goal to surface at least 15 novel finance products by 2025.
MARI Oceans' proposal – to empower climate resilient coastal communities by rebalancing the seaweed production supply chain through improved farming practices, finance and technology – is one of the four finalists of the ORRAA Ocean Resilience Innovations Challenge. MARI Oceans will enter into a Memorandum of Understanding with ORRAA in the coming days and will serve as the first step in preparing for this exciting new journey for MARI.
To know more about ORRAA’s Ocean Resilience Innovations Challenge, visit their website here: https://www.oceanriskalliance.org/innovation-challenge/