Conservation and avoided deforestation of the mangroves at MarVivo is anticipated to reduce emissions by an estimated 26 million tonnes of carbon dioxide equivalent over 30 years.
Situated in Magnificent Magdalena BayTM in Baja California Sur, Mexico, MarVivo is a unique ecosystem of mangrove and marine conservation networks known for its pristine habitat and incredible biodiversity. The MarVivo Blue Carbon Conservation Project is anticipated to be one of the largest blue carbon conservation projects in the world, devoted to the preservation and sustainable management of approximately 22,000 hectares of mangroves and 137,000 hectares of surrounding marine environments. Blue carbon refers to carbon stored in coastal and marine ecosystems, which are highly efficient at sequestering carbon. The project also aims to have a sustainable impact beyond mitigating climate change by protecting biodiversity and creating programs to improve the livelihood of local communities.
Magdalena Bay offers unique temperature fluctuations which attract an abundance of marine life including sharks, whales, turtles, seals, and many endangered species.
As poverty is one of the main drivers of deforestation, the project creates new economic opportunities for local communities, like ecotourism and sustainable sea scallop farming.
Conservation of Mangroves
Magdalena Bay is home to Baja's largest mangrove forest. The MarVivo Blue Carbon Conservation Project aims to prevent significant deforestation of the mangroves due to shrimp farming which has occurred in the nearby area. Current studies suggest mangroves and coastal wetlands annually sequester carbon at a rate ten times greater than mature tropical forests. They also tend to store carbon for a longer period of time as much of the carbon is stored below water in organic-rich sediment or peat, which is why protecting blue carbon projects like MarVivo represent a critical step in solving the climate emergency.
The MarVivo project is estimated to reduce greenhouse gas emissions by approximately 26 million tonnes of carbon dioxide equivalent during its initial 30-year project life and generate an equivalent amount of blue carbon credits. The project developers plan to certify the project through the Verified Carbon Standard (VCS), the Climate, Community & Biodiversity Standard (CCB) and the Sustainable Development Verified Impact Standard (SD VISta), all of which are administered by Verra.
For additional information on MarVivo, please visit their website at marvivo.earth.
Protection of Biodiversity
In addition to the economic potential of blue carbon credits, Magdalena Bay’s abundance of mangrove forests shelters unique biodiversity which includes multiple species listed on the IUCN Red List.
- Shortfin & Longfin Mako Shark
- Mobula Ray
- Scalloped Hammerhead Shark
- Smooth Hammerhead Shark
- Blue Shark
- Striped Marlin
- Silky Shark
- Pacific Green Sea Turtle
- Loggerhead Turtle
The Baja Peninsula and Sea of Cortez’s Mangrove forests have been identified as pupping grounds for 6+ species of sharks. Magdalena Bay in particular is frequented by many species of sharks including Mako sharks, Blue sharks, Hammerhead sharks and Silky sharks, all of which are particularly vulnerable to shark fishing.
The CoOp at Magdalena Bay is building generational relationships where local business can come together and foster sustainable industries beyond aquaculture for further economic growth in the community. It will be a creative space for tourism, gastronomy, science, education and community building, fostering participatory learning to improve lives and connect with nature.
Sea scallops are endemic to Magdalena Bay, and their cultivation enjoys a rich artisanal history among local fishermen. Scallop meat yields high market value for human consumption, shells can be integrated in mother-of-pearl compounds for the cosmetic industry, and the non-edible portions can be used as animal feed and fertilizer in other local businesses. With minimal infrastructure cost, technology requirement, and low environmental impact, the CoOp has developed a near zero-waste and regenerative process that supports a thriving community-owned enterprise.
Project developers also believe that Magdalena Bay can be developed as a luxury eco-tourism destination that can deliver high economic impact to local communities with low environmental impact.
MarVivo Carbon Credit Stream
Carbon Streaming has agreed to invest US$6 million to implement the proposed MarVivo Blue Carbon Conservation Project. An initial US$2.0 million will be invested and there will be four separate US$1 million investments at specific project milestones. The Company will have the right to purchase each year the greater of 200,000 carbon credits or 20% of the annual verified carbon credits from the project. The Company is also obligated to pay 40% of the net revenue received on the sale of the MarVivo carbon credits on a quarterly basis. Carbon Streaming expects the MarVivo transaction to close in Q3 2021.