Goal: Improve the management of 410,000 km² of existing ocean conservation areas by reducing financing gaps and standing up the governing and managing agency

The Seychelles Conservation and Climate Adaptation Trust (SeyCCAT) and the Government of Seychelles are working in collaboration with the Blue Nature Alliance to ensure the effective and durable management of the Seychelles’ newly established marine protected areas (MPAs). With this collaboration, the country’s network of protected areas will have increased funding and the strong management needed to ensure thriving communities and ecosystems in the long term. 

As an archipelago made up of 115 islands, Seychelles’ fishing and tourism industries are the backbone of its economy. Located within the Madagascar and Western Indian Ocean Biodiversity Hotspot, Seychelles’ marine environment features large and pristine coral reef complexes and hosts scores of iconic species such as endangered dugongs and turtles. Seychelles also boasts multiple Important Shark and Ray Areas (ISRA), large seabird roosting and nesting colonies, as well as a host of resident and migratory cetacean species. 

Seen as one of the world’s most environmentally conscious nations, Seychelles has protected half of its total land area and over 30% of its territorial waters through a network of 13 MPAs. These designations were made possible using proceeds from a US$21.6 million debt conversion in 2015 with the support of The Nature Conservancy – the world’s first debt conversion solely for marine protection.      

An additional transaction also led to the issuance of the world’s first sovereign Blue Bond, a pioneering financial instrument designed to support sustainable marine and fisheries projects. The bond also raised an additional US$15 million from international investors, demonstrating the potential for countries to leverage capital markets for financing the sustainable use of marine resources. 

These innovative financial instruments have supported the Seychelles’ Marine Spatial Planning, a process that engaged an impressive coalition of over 70 partners and contributors across government, international and local NGOs, academic institutions, and the private sector.    

Building on Seychelles’ Debt restructuring model, the Blue Nature Alliance is working closely with SeyCCAT to increase and manage the streams of sustainable financing required to ensure a robust and durable MPA network.  

The Alliance is also supporting Seychelles’ Ministry of Agriculture, Climate Change, and Environment (MACCE) to establish the MPA network’s governance body and management office, a key piece in coordinating implementation and monitoring across such a large network. Through this partnership, essential components for implementing MPAs have been established, such as ensuring that all MPAs have management plans and capacity building for implementation, surveillance, enforcement, monitoring, and evaluation.