Ocean Resilience Innovation Challenge
Author: Global Resilience Partnership
Posted on 14 October 2020
The Ocean Risk and Resilience Action Alliance (ORRAA) has launched the Ocean Resilience Innovation Challenge to build resilience in the regions that need it most.
Application details are available on the ORRAA Website. Competition closes on Friday, 20 November 2020 at 23:59 GMT.
Our ocean is changing faster than at any time in human history. Risks associated with sea level rise, storm surges and coastal flooding are multiplying, affecting billions of lives and livelihoods and threatening precious coastal ecosystems.
To build resilience in the regions that need it most, the Ocean Risk and Resilience Action Alliance (ORRAA) has launched the Ocean Resilience Innovation Challenge. The challenge is calling for novel and scalable finance and insurance products that build coastal resilience and reduce ocean risk. The initiatives must also reduce ocean risk for the most vulnerable, include a focus on gender, equity and human rights, and protect biodiversity.
Selected projects will receive customised support to maximise their potential for impact, scalability and investability. The Challenge’s winners will benefit from a program of tailored mentoring, and communications and leadership support to make their project ‘funding-ready’. They will also be connected to potential investors and partners from across the ORRAA network.
ORRAA will rigorously assess all entries to the Challenge based on criteria including viability, innovativeness, scale of impact and equity. Winners will be selected by the end of the calendar year and announced in early 2021.
ORRAA is working in partnership with the IUCN Blue Natural Capital Finance Facility, the UNEP FI Blue Finance Initiative and IDB’s Natural Capital Innovation Lab.
Key information about the challenge can be found on the ORRAA website, including the application form and a detailed guidance document for applicants .
The Ocean Resilience Innovation Challenge and several of the Alliance’s projects are made possible thanks to generous support from the Government of Canada.