Public Disclosure Authorized Public Disclosure Authorized UNLOCKING BLUE CARBON DEVELOPMENT INVESTMENT READINESS FRAMEWORK FOR GOVERNMENTS Public Disclosure Authorized Public Disclosure Authorized © 2023 The World Bank Group 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000 | Internet: www.worldbank.org This work is a product of the staff of The World Bank Group, with external contributions. “The World Bank Group” refers to the legally separate organizations of the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). The World Bank Group does not guarantee the accuracy, reliability or completeness of the content included in this work, or the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever, or for reliance thereon. The boundaries, colors, denominations, and other information Please cite work as: shown on any map in this work do not imply any judgment on the part of the World Bank Group concerning the legal status World Bank. 2023. Unlocking Blue Carbon Development: of any territory or the endorsement or acceptance of such Investment Readiness Framework for Governments. boundaries. The findings, interpretations, and conclusions Washington, D.C.: World Bank. expressed in this volume do not necessarily reflect the views of the organizations of the World Bank Group, their respective Boards of Executive Directors, and the governments Rights and Permissions they represent. The material in this work is subject to copyright. Because The contents of this work are intended for general the World Bank Group encourages dissemination of its informational purposes only and are not intended to knowledge, this work may be reproduced, in whole or in part, constitute legal, securities, or investment advice, an opinion for noncommercial purposes as long as full attribution to this regarding the appropriateness of any investment, or a work is given and all further permissions that may be required solicitation of any type. Some of the organizations of the for such use (as noted herein) are acquired. The World Bank World Bank Group or their affiliates may have an investment Group does not warrant that the content contained in this in, provide other advice or services to, or otherwise have a work will not infringe on the rights of third parties and accepts financial interest in, certain of the companies and parties no responsibility or liability in this regard. All queries on rights named herein. Nothing herein shall constitute or be construed and licenses should be addressed to World Bank Publications, or considered to be a limitation upon or waiver of the The World Bank Group, 1818 H Street NW, Washington, DC privileges and immunities of any of the organizations of The 20433, USA; email: pubrights@worldbank.org. World Bank Group, all of which are specifically reserved. Unless otherwise indicated, “$” refers to United States dollars. Acknowledgements This report, Unlocking Blue Carbon The following peer reviewers provided valuable advice: Development– Investment Readiness Framework Peter Kristensen, Pablo Cesar Benitez, Julian Gonzalo for Governments, was produced by a core team of Jimenez, Loren Atkins, Isabelle Blouin, Fabiano de The World Bank Group (WBG) and external partners Andrade Correa, Markus Pohlmann, Neeta Hooda, led by Sylvia Michele Diez, Senior Environmental Erik Winter Reed, Rodrigo Martinez Fernandez, Specialist, and Juliana Castano-Isaza, Natural Brenden Jongman, Andre Rodrigues Aquino, Resources Management Specialist. The report was Ellysar Baroudy, and Rahat Jabeen. written by Moritz von Unger, Mackenzie Taggart, Regina Sánchez Sasso, Raquel Bustamante, and Guidance and strategic direction were provided by Steve Crooks from Silvestrum Climate Associates; Juergen Voegele, Valerie Hickey, and Christian Peter. and oriented and edited by Sylvia Michele Diez, Juliana Castaño-Isaza, Andres Espejo, and The team is thankful for the funding support Irina Likhachova. from PROBLUE. The team is grateful for the valuable insights The finding, interpretations, and conclusions expressed and technical contributions of Jacqueline in this