TCP Lanka Secures $4M for Mangrove Restoration in Sri Lanka
A carbon-financing project led by TCP Lanka has restored 3,000 hectares of mangroves in Sri Lanka, attracting nearly USD 4 million. This initiative addresses economic challenges while enhancing environmental resilience and creating job opportunities.
Theia Market Signal Identification - AI Assisted
TCP Lanka (PVT) Ltd. has successfully implemented a mangrove restoration project across 3,000 hectares in Sri Lanka, attracting approximately USD 4 million from Singapore-based VNV. Launched in 2021 amidst economic turmoil, the project expanded from an initial 500 hectares following government consultations, highlighting its potential for foreign investment.
Registered under VERRA, this initiative exemplifies a shift in climate finance, where upfront capital is provided for restoration activities, expecting returns from future carbon credits. The project's ecological impact includes enhancing biodiversity and offering vital ecosystem services, positioning natural ecosystems as economic assets in the global carbon market.
Comments